by Administrator
8. April 2016 12:23
If you are looking to invest in a boat, make sure you have it insured. While it is not mandatory, having an insurance policy will save you a lot of money and hassle in the event of a mishap. Insurance is also necessary if you are looking to finance the boat purchase.
Following are ways you can make your boat insurance affordable:
- Boat selection: Just like other motor vehicles, luxury boats will cost more to insure. The insurer will look at the maximum speed of the boat and length to horsepower ratio to arrive at this cost. A high speed boat is prone to accidents hence it will need to be insured at a higher price. Also, if you have bought an old model or a second hand boat, your premium may go up. Keep these factors in mind while purchasing a boat.
- Cut the accessories: If you have lots of accessories along with the boat, your monthly premium will be higher as they will have to be replaced in case of any damage. A mid priced boat with the basic amenities can help you bring down the insurance rate.
- Join a safety course: Many insurance companies extend special discounts to people who have done a professional course in boating safety. This assures them that you will drive the boat safely hence lowering the chances of accidents.
- Safety gear: If you have GPS or other safety gear installed on the boat, you may be eligible for further discounts. Investing in these devices will not only increase your safety but also lower the insurance premium.
- Good track record: If you have a clean driving record, you may be able to get a better deal for boat insurance. Your monthly premium will go up if your license indicates that you are reckless driver.
- Compare quotes: It is best to first compare all rates, discounts and offers that multiple agents are offering. Ask them to simplify the terms and coverage options offered by different policies so you can choose the one that perfectly fits the bill.
You may also bundle your other policies like home or auto insurance with your boat insurance. Check with the existing insurance agency if they offer you a special rate and discount for doing so.
We, at Shawn Camp Insurance Agency, Inc., offer a wide range of boat insurance policies in Killeen, TX. For details about the coverage options, call at (254) 526 – 0535.
