the Cost of Boat Insurance

The $975 figure represents annual insurance for the boat. The insurance is "hull and liability insurance". The boat itself is valued at about $70,000. At $975 annually, I pay $81.25 per month for the insurance. The insurance covers most any forseeable problem that might occur to the boat including any weather or animal related damages.

My boat is one of my most treasured and valuable possessions. Unfortunately, it has been known to be vulnerable - to accidents, storms, and animal damage. In addition to giving you peace of mind, boat insurance coverage provides protection for you, your passengers and your boat. For me, it is a necessity to have.

One tip is to determine whether you really need the insurance year-round. A big way to save money is to take the boat off insurance during the winter months if it is in save storage you do not feel you need it. However, this could also come back to haunt you if you think that there is a chance your boat might get damaged in storage. Another tip is to investigate your homeowner's plan to figure out exactly what it does and does not cover before jumping into a boat insurance plan. Sometimes your homeowner's can actually cover certain damages to your boat, so there is no sense in overlapping everything if you already might have coverage that you weren't aware of!