Boating insurance is similar to auto insurance. There are many factors that affect how much your premiums will cost. Understanding what factors affect the cost and what you can do to keep your premiums low will help you keep the cost of your boating insurance under control. Let’s take a look at these factors.
Many boats have an automatic fire extinguisher on board. Keeping the fire extinguisher in good working order is important and will help keep your premiums low. Extinguishers should be checked at least once a year to ensure they are fully charged.
It's important to maintain a clean driving record. Much like driving your car on the highway, you can also get ticketed while driving your boat on the water. Speeding and reckless driving on the water are just as dangerous as if you were driving your car on the road. Monitoring your insurance score will help you keep your insurance score more manageable.
Your boat insurance premiums can be bundled with your home and auto insurance. This allows you to bundle your policies and qualify for a multi-policy discount. Having all of your policies bundled together makes it easier for both you and your insurance company to manage them.
Your insurance company will take into consideration the number of years you have been boating. The more experience you have, the lower your premiums will be. Make sure to let your insurance agent know how long you have been boating and create a detailed list of the different types of watercraft you have experience with.
Keep a list of the other boats you have owned. This will help provide details associated with your boating experience. It will also let your agent know any skills you may have when it comes to managing different types of watercraft. If you have copies of past insurance policies, this may offer you the information you need.
If you own your boat, your age may play a role in how much your insurance company will charge you for your monthly premiums. Many associate age with an increase in responsibility. The older you are, the more experience you have, especially if you started boating at a young age.
Taking a boating education course will lower your monthly premiums, much like a defensive driving course will lower your auto insurance premiums. Young boaters are often required to take a boater education course. Adults can also sign up for a similar course to refresh what they know about boating.
It's important to know what insurance carriers look at when calculating your boating insurance premiums. Contact the experienced agents of Humble Insurance Group today to learn more. Our agents can discuss what factors will influence your boating premiums and help you find ways to effectively manage the cost of your insurance policies.