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06.17.2019 Drew Bartek

How to Save Money on Your Boat Insurance

As you get back on the water this summer you might be reminded of how expensive watersports can be.  There is always something breaking and always something on my list of things I want to purchase when it comes to watersports.  We are going to talk about some simple steps that you can take to save some money on your boat insurance this summer.

Lay-Up Period

What is your lay-up period? A lay-up period is the months of the year in which your boat is out of the water due to the off-season.  You should check to see what your lay-up period is and make sure it is appropriate. If you are only out on the water from June to September you should make sure that you aren’t paying extra for all those months your boat is in storage.  You can ask your insurer to extend your lay-up period if it is appropriate.

Adding Safety Features

Adding safety features on your boat is not only a smart thing to do for those riding on your boat but it can also save you some money.  If your boat has any safety features like auto tethers that will kill the engine of the boat if a passenger falls overboard you should let your insurance company know.  You can ask your insurance company about other features that you could add that would reduce your premium. There could potentially be some simple and small improvements that could lead to great savings over the next 10 years.  

Boater Safety Classes

Another way you can save money is by taking a boater safety class.  First verify with your insurer that you can earn a discount by completing it.  You can ask them if there are any classes that you can take to receive a discount.  Insurers often give around a 5% discount a year for taking a safety class.

Get Competing Quotes

The last piece of advice I have for you is to shop around Insurers to see if someone can give you a better deal.  There are always companies vying for new business and will often be able to beat others on the market.

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Published by Drew Bartek June 17, 2019
Drew Bartek