Having a Boat is one of the dreams of many Americans. The experience that a boat provides you cannot be measured in dollars. Imagine yourself sailing through the waters of your backyard river, teaching junior some fishing skills that you learned from your dad. While purchasing a boat, you need to buy boat insurance. Understand that boat insurance is one of the most neglected documents. Nobody cares that with some homework, they can significantly reduce their boat insurance rate.

In this blog, we will talk about the most important factors that affect your boat insurance rate. Contrary to popular belief, boat insurance has many factors that can help you save some money. Visit website to learn more.

The complicated nature of owning and operating a boat affects the boat insurance rates. This is the reason that your boat insurance rates can vary significantly from one company to another. Factors like navigating area, ownership experience, motor vehicle record, claim history, and storage location all have an overbearing effect on your boat insurance coverage.

To derive the maximum discount from your boat insurance company, you must understand how these factors affect your boat insurance rate. The following is a list of discounts that you can apply for from your boat insurance company.

Previous boating experience

The years of actual boating experience will affect your insurance rate. The more years that you have under your belt, the less you can expect to pay for your insurance

Previously owned boats

If you have experience operating an 18-foot boat then there are fewer chances that your boating insurance company will think that you can safely operate a 45-foot yacht. All boating insurance companies usually only insure your boat if you have a comparable boat ownership history. This rule particularly applies to larger vessels.

Owner’s age

The older you get, the lower your boat insurance rate will be.

No prior claims

No boating insurance company will want  to insure you if you do not have a safe boating record. Hence having a safe boating record can prove advantageous in terms of boating insurance rates. Understand that many boating insurance companies do not differentiate between at-fault and no-fault claims. Be sure to ask your agent the company that differentiates between these two claims. This way, in case you already have a claim record you can get a lesser rate if it was a no-fault claim.

Top Speed Of Your Boat

As a rule of thumb the lower the maximum speed of your boat, the lower your boat insurance will be. There are insurance companies that may insure your boat by applying a surcharge, but most of them avoid insuring a boat that is too fast. You might even get credit for boats with a maximum speed of 25 to 35 mph.


If you own a home, then your boat insurance will be lower. Boat insurance companies take homeownership as a positive factor and charge you less.

New boat

A newer boat will normally fetch better insurance rates. This is one expense that can save you some money!


Some boat insurance companies rate marriage as a positive factor. Hence if you are married then you can command a cheaper boat insurance rate. This is no reason to worry for singles though as many insurance companies do not take marital status into account while insuring your boat.

Good driving record

Yes, your automobile driving record is also taken into account by your boat insurance company. If you have a clean driving record, then you can command a lower boat insurance rate.

Consider the above-mentioned factors and command a lower boat insurance rate.

 Meta:- Want to buy boat insurance? You can get heavy discounts if you take these factors into account.