If you own a boat, you are probably going to want to buy boat insurance. This can be one of the more expensive types of insurance to buy, so here are some tips to help you save as much as possible:
- Know what type of coverage you need. As you start looking for boat insurance, you will want to think about what type of coverage you will need for your boat. Think about how often you sail, what kind of deductibles you can afford, and if there is any special coverage you might need, because of where you sail or where your boat is docked during the off-season.
- Have your boat inspected. Before you even start looking for insurance, it might be worth your time to have your boat inspected, especially if it is more than ten years old. Why bother with this step? Because you will likely have to have it inspected anyway, and knowing the issues your boat does and does not have can help you get a more accurate quote.
- Look at many different companies. Do not immediately sign a contract with the insurance provider offering you the lowest rate. You want the insurance that is right for you, which might not necessarily be the cheapest option. Make sure that the one you ultimately choose is the one with the coverage you need—this will save you money in the long run.
- Talk to a person. There is some value to getting an online quote, but only talking to a real insurance agent or provided will enable you to make sure that the coverage you are getting is right for you—without paying for coverage you do not need or leaving an aspect of your boat uncovered due to ignorance.
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