How to Determine Boat Insurance Costs

average boat insurance costs

How to Determine Boat Insurance Costs

If you own a boat or if you’re in the market for a boat, then you’re probably curious about boat insurance rates. Once you’re ready to branch out and own your own boat, it’s only a matter of time before you’re trying to decipher the average boat insurance costs. When it comes to the cost of insurance, here is what you need to know.

How Much Boat Insurance Costs

On average, you can expect that boat insurance costs a few hundred dollars a year. This isn’t for every case, however. Some people spend up to 1,000 dollars a year on their insurance. If you want to know the average, however, you will probably expect to spend anywhere between 300 to 500 dollars a year on average. What Affects Boat Insurance Costs Some factors that affect boat insurance costs are in your hands, while others are out of it. Some of those factors include:

Driving records

Safety measures

Gender and age

Boat specs

Boat usage

Boat insurance claims

Every policy is different and customizable to the client. There are a lot of factors that an insurer may use to decide which option or quote best suits you.

As with most insurance policies, average boat insurance costs depend heavily on your insurer and the factors surrounding how you use it. While there are some average numbers that you can look at, you’ll have your best quote from an agent that knows your circumstances.