Are you eager to take your new boat out on her maiden voyage? Perhaps you've been boating for years, but you’re looking for a way to cut costs. Whatever the case may be, there are many ways you can save money on your boat insurance premiums.
Look for Discounts During the Off-Season
Most boat insurance policies have what is called a “lay-up” period, which is a time of the year when your boat will not be in use. If you have a watercraft policy with a lay-up period, check the dates. You may find that you’re paying for full insurance even though you’re not out on the water. Many insurers will extend your lay-up period, which will cut your premiums during the days or weeks that you aren’t using your boat.
Think Safety
Many insurance companies will give you great discounts if you have certain safety features on-board. One example is a wireless auto-tether. This device shuts down your boat’s engine should someone go overboard. If your boat insurance is from the same provider as your auto policy, you may also be able to have your safe driving discounts extended to your boat policy.
Take a Safety Class
Enrolling in a boating safety class can often result in deep discounts from your insurance company. The United States Coast Guard provides some of the best boating safety courses, but you can always check with your insurance agent to see what other organizations are offering classes in your area.
Classify Your Boat Properly
Most insurance companies insure a wide variety of boats, including bass boats, small wood boats, house boats, speed boats and more. You don’t want to pay for power boat insurance if you own a rowboat! Be clear with your insurance agent about the size, capability and purpose of your boat so that you don’t end up paying higher premiums than necessary.
These are just a few of the ways you can save money on your boat insurance policy. You may be able to save even more by bundling your boat policy with home and auto insurance. Some insurers let you earn safe boating rewards for accident-free boating. Check with your insurance agent to learn all the ways you can save!
We’ll help you save. Call The McCallum Insurance Agency ay 440-899-2700 for more information on West Lake boat insurance.