- Before you shop around for insurance, you should know what you need. Know the coverage you need and how much deductible you can readily afford.
- Get a survey if your boat is more than 10 years old. Most insurers require a survey and having it ready will save time as you shop. The survey needs to be within the last 30 days, covering both in and out of the water. Doing so will also establish the value of your boat, ensuring that you get accurate quotes.
- Don’t settle for one insurer, shop around. You may be surprised how rates differ from one company to the next. Better yet, let an independent agent shop for you!
- Get an agent that is an expert in boat insurance. A boat insurance expert will help customize a policy according to your needs and ensure that you’re not paying for anything that you don’t need at all.
- Keep a clean driving record. A speeding ticket may affect your boat insurance.
- Having a good credit rating will also help you reduce your rates.
- Consider tweaking your deductibles. It’s important to note that large deductibles mean higher out-of-pocket costs in a covered loss. What is a small premium if you can’t afford the out-of-pocket expenses, right? Choose a deductible that is just right for you. Insurance experts usually have a balance point that is about 2 to 3 percent of the value of the policy.
The bottom line is to get a good agent. A good agent can easily be the difference between a high premium and a reasonable one. He/she should be able to help you find the coverage that would best suit your need.
Wahoo Insurance Agency is an independent insurance agency that offers quality services to the residents of Florida. We specialize in providing boat insurance that you can rely on at an affordable price. Get a quote from us today and call us at (866) 275-9797 or visit us at our office!