• Mayer Insurance Agency

Different Factors That Impact Watercraft Insurance Policies

Millions of people operate watercrafts every year. They are a great way for you to enjoy some fun time with your friends and family. However, using a watercraft comes with serious risks, as a serious accident can occur at any time. Therefore, watercraft insurance is essential.

While you research watercraft insurance, be aware that several different factors impact your potential insurance rate. Learn about these other variables so that you will be prepared for any scenario when receiving a quote.


  • Safety Equipment Having the most up-to-date safety features on your watercraft prevents the likelihood of you having a major accident while out on the water. You may qualify for a policy discount if you have GPS systems or depth finders installed on your watercraft.


  • Taking a Boating Education Course You can qualify for a discount on your watercraft insurance policy if you have a certificate from the USCG Auxiliary or the US Power Squadron. You are also eligible for a discount if you pass any courses approved by the US Coast Guard.


  • Clean Driving Record Having a clean driving record is beneficial. Many insurance companies believe that your ability to operate a motor vehicle without any issues should carry over to your watercraft.


  • Previous Watercraft Experience If you have an extensive track record of owning and operating boats, you should be able to find a good rate. Many insurance companies will look at your watercraft history before deciding to insure your latest vessel. Previous experience is mandatory if you want to find coverage for large watercraft.


  • Insurance Score Research shows that more insurance companies are using credit history to help figure out the insurance rate they will offer. Insurance companies will perform a soft look, allowing them to view your credit history without impacting your credit.


  • The Coverage You Choose If you opt for more comprehensive coverage, that will increase your insurance rate. Also, remember that choosing a high deductible will lower your insurance rate.


  • Combining Policies You may qualify for a multi-policy discount if you combine policies, such as including your boat in your home insurance policy. You may receive additional credit for a multi-line policy. Keep in mind, though, that multi-line companies do not necessarily specialize in boat insurance. Do not work with an agent who is not familiar with boats.


  • Already Insured If your boat is already insured, many insurance companies will offer you a discount. This shows that you care about keeping your boat protected.


  • Navigation Limits The places where you plan to operate your watercraft have a direct impact on your insurance rate. This is especially true if you live in a coastal region. Different parts of the coastal area are seen as high risk, which leads to higher rates. If you live in a coastal region but are an inland boater, it may not impact you. Some insurance companies have broad navigation limits, while others are more detailed. You can ask for a one-trip rider if you plan to travel out of the country. Remember that you may not be protected if you operate your watercraft outside of the navigation limits.


Because there are so many factors that impact your insurance rate, research quotes from experienced agents who clearly understand the market. At Mayer Insurance, we will guide you through the process to ensure that you find the right policy.

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