| There are three factors that are most commonly | | | | All of these accessories can add to the total premium |
| used to determine the cost of boat insurance | | | | of your boat insurance. |
| coverage. | | | | Most boat insurance will also cover theft of the boat |
| One of the first questions that will be asked is the | | | | and may or may not cover the trailer. If you keep |
| size of the boat. The agent is looking for the length, | | | | your boat in a slip and don't have a trailer to insure |
| in feet, of the boat that you want to insure. The size | | | | and are not transporting it to area lakes, then your |
| is used in order to determine the basic starting | | | | policy could cost you considerably less. |
| premium. On average, the premium for, let's say, a | | | | You also want to keep in mind that sea-faring boats |
| 25 foot boat will be somewhere between $300 to | | | | are going to cost more to insure as they are more |
| $500 per year, depending upon where you live and | | | | at risk from unpredictable weather and wave |
| depending upon the deductible that you choose to | | | | damage. Lake-going boats are not considered to be |
| have. Of course, the higher the deductible, the lower | | | | at such risk. Restored antique boats will also fetch a |
| the premium. | | | | high premium, as will personal watercraft due to the |
| Then the age is taken into consideration. The cost | | | | dangerous nature of the craft and the incidents of |
| above is for a new boat. When looking to insure an | | | | accidents and death as a result of personal |
| older boat, the premiums can be considerably less. It | | | | watercraft usage. |
| is also worth noting that some insurance policies will | | | | Basically, each individual policy will differ, as it does for |
| separate the motor from the boat and that | | | | your car. Check first with your automobile company. |
| mechanical issues will not be covered on a motor, | | | | A boat may qualify you for a multi-vehicle discount, |
| just like it wouldn't be for your automobile. But, since | | | | but more than likely your auto insurance company will |
| motors can be newer than the boat, they are often | | | | offer boat insurance through a partner that will not |
| insured separately, and the HP, as well as the age of | | | | allow you to claim that discount. Also shop around. If |
| the motor will also be taken into consideration. | | | | you are completely happy with your auto company it |
| Finally, the number of fixtures that you have on a | | | | may be worth it to pay a little higher premium, but in |
| boat will be assessed. Some yachts, for example, can | | | | shopping for boat insurance you might find an auto |
| have a ton of expensive accoutrements. Even a bass | | | | policy with the same or better benefits for less. |
| boat can have a quite expensive fish finder, live well, | | | | As a final word though...it is not a good idea to skip |
| GPS and other accessories permanently affixed. A | | | | over the coverage. Most states don't require proof |
| bimini top can set you back a good $500 to a couple | | | | of insurance in order to register your boat, but it is |
| of thousand, dependent upon the size of your boat | | | | much better to be safe than sorry. Accidents do |
| and the coverage and quality of the top. You may | | | | happen...even to you. |
| have upgraded the seats or have added Tilt & Trim. | | | | |