7 Tips to Save a Boatload on Boat Insurance Coverage

A boat can turn a hot summer day into an adventure—but at a cost. Not only is it expensive to purchase and maintain one, but you also have to pay for marina fees, fuel, and of course, boat insurance coverage. Fortunately, we can help you decrease that expense a little with a few coverage tips.


Get the policy you actually need.

Pay careful attention when purchasing your policy and make sure it’s the right one for your boat. A pontoon doesn’t need the same level of coverage that a houseboat requires.


Choose a high deductible.

Purchase boat insurance coverage with a high deductible, and you’ll get a low premium in return. Just remember that you’ll be responsible for covering more of the cost if you have an accident.


Start with a small boat to build credit.

It’s not wise to start driving a large vessel because that could be too much boat for a rookie to handle. Your insurance carrier knows that and may give you a pricey rate as a result. Instead, start small and build credibility with your company so it keeps your premium low. Or take a safety course if you want to jump straight to a more expensive vessel. 


Keep your driving record clean.

Accidents can hike your insurance costs, so stay alert when boating. Don’t drink and drive, and follow all laws.


Take a boating safety course.

Some insurance carriers offer discounts to customers who take boating safety courses, so this is an easy way to save on your premium. Plus, a safety course will help you become a better driver and, hopefully, avoid costly accidents in the first place.


Don’t file small claims.

Save your insurance claims for the big stuff. If you file for every lost life jacket, then your premiums will just get larger year over year.


Make your boat safer.

Carriers often give discounts on home insurance when you increase security. The same principle applies to boat insurance coverage and safety. Talk to your Hibbs agent about what safety features will decrease coverage costs for your vessel.


If you have any other questions about boat insurance coverage, our agents are ready to help! Call us at 270-554-2105.