- The Use of the Boat.
If you use your boat occasionally your rates will typically be lower than if you tow skiers or parasailers every day.
- Your Motor Vehicle Driving Record.
Good automobile drivers tend to be good boat drivers.
- Your Record of Boat Insurance Claims.
You may have to pay more if you have filed many claims in the past.
- The Boating Experience of Others who will be Driving the Boat.
Adding your teenage son as a driver on your policy, for example, may increase your rates.
- Safety Measures.
Have you had a certified safety course? Do you have a specific hurricane haul-out plan; Do you have Coast Guard approved fire extinguishers and radios to communicate with the mainland? Are your navigational plans in place?
- Horse Power of the Boat.
Often, boats with a higher horsepower engine will have higher insurance premiums assigned to them.
- Your gender and age.
Studies have found that women over the age of 2710 to be quoted for better rates than men of the same age, even with equal driving records.
- Specs of your Boat.
Year, make and model of the boat and motor, and whether you have an inboard or outboard motor come into play when determining rate.
- Region of the Mooring.
This will determine if you will be using the boat in areas where there are natural hazards.
- Your Credit Score.
Insurance companies have found that a person with a lower credit score is statistically more prone to boating accidents.
