Estimating Boat Coverage Prices
Owning a boat is an exciting experience for anyone. The possibilities of the open water make it seem liking boat ownership is all fun and games. Still, there is one issue you should worry about before heading out to sea: insurance. If you are a first time owner, then you may be asking yourself, “How much is boat insurance?”. Typically, you can expect to spend around 1% to 2% of your boat’s value every month. However, the exact amount really depends on a number of different factors.
Just like auto coverage, insurers may likely look into your boating background. If you have been involved in several accidents or have been found inebriated while sailing, then you can face higher rates than boaters with clean histories.
What you intend to use your boat for also matters. Using your boat for long fishing trips can make your insurance increase as opposed to using it for weekend recreation out on a lake.
Many insurers can lower your costs if they see you have taken a boating safety course. They view this option favorably as they see you are serious about avoiding accidents.
Other factors like past claims and location also affect your monthly prices. With this information you can now answer the question “How much is boat insurance?” for your next boat purchase.