the Cost of Boat Insurance

I have used the same insurance company for several years to insure our boat and the cost of the current policy is $1150 for the year, which includes the minimum coverage for bodily injury liability, property damage liability and uninsured/underinsured other driver protection. Our deductible is $1500 and the price for the insurance includes a ten percent discount because we have other policies with the same company.

I am pretty satisfied with the insurance company and the coverage provided by the policy on our boat. We only use the boat infrequently on local lakes that are all within a few hours driving distance, but we did have someone run into us several years ago and there was coverage by our insurer to repair the damage because the other boat did not have any insurance. The insurance company's agent helped us to decide the right liability limits and we are pleased with the customer service that we have received. The cost of the insurance is in line with quotes from other carriers, so I consider it to be fair and it makes me feel better to have it.

Many boaters go without insurance to save money, but it's important to have even just a basic policy with minimal coverage to protect your boat and your passengers. Try to go with the same company that provides your auto or home insurance; that might get you some type of discount.