The final cost of your boat insurance policy will be impacted by five main factors.

1)   Your driving record. Insurance companies consider your driving record on land, and at sea. If you have numerous traffic violations with your vehicle, the cost of your boat insurance will be higher.

2)   Your training and education. Those who complete boater safety courses or who have certifications in boat safety can save a significant amount on their boat insurance premiums.

3) Your estimated cruising location. Where you boat – whether on a lake, river, or on the ocean – will directly impact the cost of your insurance. Areas that are more likely to be impacted by mega storms will likely have higher insurance premiums. Most companies will request this information in order to write you a price quote. Be honest about your anticipated boating locations.

4)    The requested liability limits. The higher your liability limits, the more protection you have and the more expensive the insurance policy.

5) Your chosen deductible. Choosing a higher deductible will greatly reduce the cost of your insurance premium. Remember, however, that the deductible is the amount that you must pay out of pocket for accidents, damage, and injuries before your insurance will release a payment.