When you’re buying a boat, you’re probably thinking more about the places you’ll go and the things you’ll see rather than which boat insurance policy will give you the best coverage.

We don’t want to spoil your dreams of sunshine, gentle waves, and good times with friends and family, but you need a boat insurance policy to protect your investment before you hit the water.

If it’s your first time shopping around for a boat insurance policy, here are some facts you need to know:

Investigate specialized insurance – while you may be able to purchase insurance for your boat through your homeowners insurance company the policy may not provide ample coverage. It’s a good idea to compare a quote with a marine insurance specialist and ask detailed questions about coverage.

Boat safety features – if your boat has safety features like wireless auto tethers or depth finders, or if you have taken boating safety courses, it is worth mentioning this to your insurance specialist when you discuss your boat insurance policy. There are some safety features and training courses that could help reduce your rates.

Variables – rates will vary depending on a variety of factors, such as the age of the boat, the kind of vessel, and how powerful the engine is. A company that specializes in marine coverage will know and understand the risks and liability issues unique to recreational and commercial boaters.

Agreed Value Coverage – this means you and your insurer agree on a value for the boat, which will be the payout if something happens. Conversely, if you are insured for market value, you will get the depreciated value in the event of a loss.

Seasonal boat use – if you live where you’re not boating all year round, make sure that your insurance covers you for time on the water and out and check if a longer lay-up period (time out of the water) reduces your rates.

Special situations – check to see if you will have coverage while towing or transporting your boat, if you travel anywhere with your boat on land or in water while it is in storage or docked at a marina, in the event of a natural disaster, or if it is damaged by vandals or thieves. It is also important to have liability coverage for any passengers you might have on your boat as well as for anyone you might encounter in the event of an accident.