A little bit of education on the different types of discounts available can literally save a boat owner hundreds or even thousands of dollars.
It is a proven fact that most boating accidents are the result of inexperienced operators, so it is in the best interest of boat insurance companies to ensure that their clients are both skilled and safe.
As a result, there are often substantial discounts offered to boaters who have completed a U.
Coast Guard approved boating education course.
The classes are normally very affordable and often reduce the insurance premiums by at least 10-15%.
Although many boating enthusiasts enjoy traveling to different locations with their watercraft, there are also plenty of boat owners who don't even own a trailer and do not take their boat off of the lake.
It is important for an insurance company to know if their insured doesn't ever move their boat on any public roads.
A significant number of claims come from accidents that occur while a boat is being towed, so any consumers that do not ever tow their watercraft should receive lower premiums.
Another very important consideration that influences the premium is the location in which the boat is kept throughout the year.
Many boat owners keep their watercraft in storage for most of the winter months, and there is virtually no use during this time.
When requesting a quote on boat insurance, it is imperative that a consumer properly estimates the amount of time that the watercraft is actually used on an annual basis.
Although premiums may be reduced to compensate for the colder parts of the year, boat insurance still remains in effect and would cover any property damage or losses incurred during this time.
Most insurance companies truly believe that individuals that opt to purchase boat insurance are showing a great deal of responsibility.
If an insured takes the necessary steps to ensure that they are well-trained operators, there are significant rewards.
The less time the boat is on the water, the less liability there is for the marine insurance company.
As a result, many premiums are based on a number of different factors.
Consumers that realize that these discounts exist often enjoy lower premiums for the same high level of protection.