Stop Paying Too Much for Insurance

boat on waterYou’re considering buying a new boat. You’ve thought about all of the features you want, the size and the type of engine. Now, you just need to make a decision about the cost. When considering an investment in a boat, it is often important to also look at the likely boat insurance cost you’ll pay for it. The cost of boat insurance depends on many factors but often is different based on the size and type of boat you buy. There are several key things to keep in mind while shoppingfor a boat.

Recognize the Risks

Why do you have to have boat insurance and what are the risks you face? This is the ultimate factor in how much you’ll pay for the insurance. Did you know that recreational boats are involved in an estimated $52 million of property damage each year spanning some 4,600 accidents? There are more than 750 people who die due to boating accidents each year with more than 3,000 additional people being hurt. This is why you may need boat insurance.

The overall cost is related to a number of factors:

  • How do you use your boat? You’ll probably need a higher amount of liability insurance if the boat may be used for high-speed events. You’ll also spend more if you plan to use it for routine events involving a lot of people.

  • The value of the boat should provide some indication of the upper limit of your insurance coverage.

  • Collision coverage can be very common; you’ll pay more for boats that are larger or more expensive to repair.

  • Where you take your boat matters. If you are going into rougher water, you’ll likely be at a higher risk of accidents.

  • Your motor vehicle driving record also plays a role in the cost of your insurance.

Additional factors that play a role in your boat insurance costs include where you live, your credit score, the specs of your boat including the size of the motor and the safety measures you have on board to minimize risk. Most of the time, boat insurance remains affordable and you can easily get a quote for it before you buy the boat. Doing a bit of homework to find the right balance of features and costs can matter to most owners.

Get a free quote today. Call Auto Insurance Discounters at (816) 252-2255 for more information on Kansas City boat insurance.
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