Boat insurance rates sinking your spirits? Don't worry — we'll help you set sail for savings! You don't need a crow's nest to spot the boat insurance discounts at your disposal. Take a minute and find out how you can save big (and we promise … no more boat metaphors).
how to save on your boat insurance policy
Looking to save some major dough? There are tons of ways you could cut down your premium and score boat insurance discounts when you buy a policy through an Esurance partner.
In general, keeping your boating record clear as a tropical lagoon is one of the best ways to avoid high rates. And depending on your specific policy, going a certain number of consecutive years without an accident or violation could even qualify you for a discount.
Own a home
Boaters who own their own home could enjoy a discount and reduced rate on boat coverage.
Pay your premium up front
Receive a lower premium if you agree to pay it all up front instead of in periodic installments.
Take a boat safety course
By taking a boat safety course, you'll increase your boating knowledge and could get a discount.
boat insurance savings 101
Cost of boat insurance
Boat insurance rates depend on a number of factors, including the size and value of the boat, how often you use it, and your boating experience. Boat insurance policies through Esurance start as low as $100. You can find out how much you'd pay by getting a free boat insurance quote.
Options for your policy
When you buy your boat insurance, you have the option of paying your premium either all up front, which qualifies you for a discount, or in monthly intervals.
Canceling boat insurance in the off-season
Given that boating and water sports are mostly summertime activities, it makes sense, then, that boat insurance would be mostly summertime insurance, right? Well, maybe not.
While you would save on monthly premiums, your boat is still at risk during the off-season. That means if your boat is damaged by fire, flood, or vandalism, or if your boat is stolen, you'd be responsible for paying all damages out of pocket. Plus, you will lose out on tenure-based benefits like disappearing deductibles and large-accident forgiveness.
If you need to save money on boat insurance in the off-season, consider lowering your liability limits and dropping coverages like uninsured boaters, emergency labor and towing, and personal effects. Just don't forget to readjust your policy prior to next boating season!
If you raise your deductibles, your premium will typically go down. Just like any kind of insurance, however, it's important to consider how much risk you're assuming in exchange for lower monthly or full-term payments. Deductibles tend to range from $250 to $5,000. If you're considering raising your deductible, set it at a level you can comfortably afford.
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