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Ways You Can Save Money on Your Boat Insurance Rates

Boat Insurance Discounts

Boat Insurance Discounts

If you own a boat, it is essential to know what coverages are available and what you will need. Boat insurance has a wide range of options, and rates.  Policy coverage can vary significantly from company to company. The Gordon Agency works with many carriers to find the best coverage at the best rate for each customer.

Look for These Discounts:

  • Automatic Fire Extinguisher System– Installing an automated fire suppression system and being preventative can save you money.
  • Additional Safety Equipment– Adding GPS systems, Depth Finders, or Radar on board keeps you save and can give you discounts on your policy.
  • Boating Course– Courses approved by the US Coast Guard or National Association of State Boating Law Administrators can save you five to ten percent.
  • Boat Currently Insured– You may get a discount for having protection when switching companies.
  • Choice of Coverage– Higher deductibles will lower your rate; choosing higher limits of coverage will increase your rate.
  • Clean Driving Record– Having a safe driving record shows you can safely drive a car and can mean discounts on boat insurance.
  • Diesel Engines– You could save on the cost of your Physical Damage coverage if your boat has a diesel engine.
  • Insurance Score– Your credit score can affect your insurance premium. Having a high credit score can mean lower insurance rates.
  • Married– Having a spouse is a decisive factor for some companies and can result in a cheaper rate. Not all insurance companies take your marital status into account.
  • Multi-Policy Discount– When adding your boat with your homeowners and/or auto policy, many companies offer an additional credit for insuring multiple lines.
  • Navigation– Where you plan to use your boat greatly affects your insurance rate. If you live in coastal regions like Florida, you are well aware of this stipulation. Areas with coastal exposure are considered high risk and therefore have higher rates. Since inland boaters are considered low-risk insurers, lower rates apply. Navigation limits are another variable that varies from company to company; size and power of the boat is also a factor.
  • New Boat Discount– The newer the boat, the higher the discount.
  • No Prior Claims– Having a safe boating record can mean lower insurance premiums.
  • Outboard Motors– Outboard motors are easier to maintain and generally warrant discounts.
  • Owner’s Age– The older you are, the better the rate.
  • Owning a Home– Homeownership can result in lower rates.
  • Previous Boats Owned– Boating experience and previous boat ownership can mean discounts on your policy.
  • Speed of Vessel– Certain companies may refuse to insure a boat capable of higher speeds, while others give credit for boats with a maximum speed of 25 to 35 mph.
  • Years of Boating Experience– The years of boating experience you have can have a positive effect on your rate.

The Gordon Agency

The Gordon Agency works with many insurance agencies to find a boat insurance policy with the right coverage and rates. Call us to explore your options and possible discounts. Using The Gordon Agency ensures you are protected by the best.

Insurance Agent West Palm Beach

This is the home of Florida’s Insurance Professionals. We are a multi-line independent agency that provides insurance solutions for both personal, and commercial lines. Combining decades of relationship building with motivated licensed insurance agents to provide coverage options for all of your insurance needs.  Our team of agents relies on our education, integrity, experience, and attention to detail to accurately assess each opportunity and to offer the optimal solutions for all of our clients. We are dedicated to matching the right product for every situation, always at the best price available. Call us at 561-988-3330, visit our websiteor paste our address in your browser
The Gordon Agency
2101 NW Corporate Blvd Ste. 211
Boca Raton, FL 33431
(561) 988-3330


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