However, insurance is only as good as the plan itself. Many consumers will foolishly buy insurance without much concern for detail. This is not wise. Clever shopping requires comparing different boat insurance estimates to find the best price.

Price is not the only valuable metric in boat insurance. It is also very important to make sure that the fine print allows for the coverage you need. There are so many different situations where you might need to make a claim; the contract will stipulate when you are allowed to make such claims and for how much. This is why comparing different boat insurance estimates alongside their various scopes of coverage is the right strategy to ensure that you have the coverage you want.

Insurance can be expensive. You want to get the best coverage at the lowest price. The internet has allowed providers to reach consumers at a lower marketing cost. It is very easy to track down different providers and compare boat insurance estimates. This is the competitive nature of the pricing mechanism of the free market working for you.

If you own a boat, you want to protect your investment from the variety of problems that might befall you. This is why boat insurance is very important. There is no reason to spend such sums of money to have it destroyed by circumstances beyond your control. A low cost monthly insurance payment could protect you from damage.

However, paying too much for insurance might have the effect of prepaying for damage whether it happens or not. This is why it is important to make clever shopping choices. These insurance companies are competing for your dollar. Take a long hard look at their coverage options and compare boat insurance estimates to find the ideal coverage that works for you. You will be glad that you protected your investment.

What does boat insurance cover?

Because boat insurance is not required by law, it’s also not as standardized as say, auto insurance.  You will find a lot of variation in boat insurance policies, so it really pays to shop around.  Boat insurance covers physical damage to the boat—to the hull, sails, engines, furnishings and standard accessories.  It covers losses due to vandalism, collisions, or sinking. It also covers damage you cause to another water craft, dock, or person.

Look for coverage for your personal property including fishing equipment, special electronics, or other accessories.  You may want uninsured boater coverage.

If you need boat insurance in Florida, you need to make sure you have hurricane coverage.  Check the wind damage deductible as many companies raise this deductible to save themselves a lot of money. If you plan to go deep sea fishing or sail to the Bahamas, make sure you are covered or purchase extra or temporary coverage for such long voyages.

What will you need to get a boat insurance quote?

Gather this information and use the internet to get several quotes (3-5 at least) to compare.  Don’t just look at price, really check the coverage and limitations.

The make, model, year and size of the boat, its engine(s) and accessories and safety features

Your current boat insurance and its expiration

Boat purchase price

Past boat insurance claims

Past traffic violations

Your age and occupation

A list of boats you have owned and/or operated plus any other boating experience

Where you plan to sail-fresh water, salt water, the Bahamas, etc

Mooring location, lay up time and location, if you have a trailer

Saving money on Boat Insurance in Florida

Include all of your boats and personal watercraft under one boating policy.  See if you can include them with your home or auto insurance for further savings.

Take a Coast Guard or Power Squadron safety course

Store your boat in a safer place

Choose a higher deductible.

Shop around.