Guide to Finding Boat Insurance

Most people would have no trouble shopping for an auto or homeowner’s insurance policy. They would probably begin their search online, doing price comparisons and learning more about different insurers’ coverage options. However, when it comes to boat insurance, consumers aren’t nearly as sure where to begin. In reality, the process is much the same. In fact, the company or companies that provide your car, home, and/or life insurance policies probably also offer boat insurance. As you begin your search, you will find that shopping for boat insurance isn’t nearly as difficult as you thought it would be, especially if you take advantage of online resources. In this post, we’ll discuss how to find a boat insurance policy and customize it to fit your needs.

Where to Look

Of course, insurance companies exist that specialize only in marine insurance. For the most part, though, boat insurance policies are issued by the same top insurers that issue more traditional forms of insurance. Here are some suggestions on where to look for your boat insurance policy:

• Your current insurer. If you have a home or car insurance policy with a major insurance company, then they will likely also have boat insurance policies. To find out, call your insurance agent or insurance representative to learn what, if any, marine insurance policies they offer.
• State department of insurance. Your state’s department of insurance must maintain a list of insurers that are permitted to operate in your state. You can visit the insurance department’s site to look up the names of boat insurers who have licenses to issue coverage in your area. You may also be able to find information on customer complaints and average premiums for boat insurance policies on the site.
• An insurance broker. An insurance broker can help you comparison shop with several different companies to determine which carrier would provide you with the most affordable boat coverage. Insurance brokers work for several different insurers, and some even have specific expertise in specialty coverage like pet or boat insurance. Remember, however, that brokers work on commission.
• The person/company from which you bought your boat. Your particular vessel may require special coverage with which an insurance agent may not be familiar. In such cases, you would do well to ask the person or company that sold you the boat what carriers they would recommend. More than likely, they deal with boat insurers often and know which companies are the most cooperative and have the highest customer satisfaction.
• Online quote sites. Especially if cost is a major issue for you, you might begin your search for boat insurance online using a site that offers multiple quotes simultaneously like ours. This way, we find the most affordable boat insurers for you and even list their estimated premiums, thus saving you a great deal of legwork. From there, you can research the individual companies to decide which quote you’d like to select.