If you own a boat in California, you have likely searched for boat insurance quotes fairly recently. People tend to search for the average cost of boat insurance in California to understand what kind of rates they can expect. There are many factors that affect your pricing for this type of coverage. While the average cost may be in the hundreds for many boat owners, the coverage can range significantly depending on many factors and the type of boat you are insuring. Here is a review of the common factors that affect pricing.
Factors That Can Affect Boat Insurance Costs in California
Specifications of Your Boat
The make, model, motor, and year of your boat can have a large impact on the insurance coverage cost for your boat.
Horse Power of the Boat
Typically, a boat with a higher horsepower engine would have higher insurance premiums than a boat with a low horsepower. Some insurance companies may see a faster boat as riskier.
Usage of Boat
If you do not frequently use your boat, such as taking it out occasionally for fishing, you are likely to have a lower boat insurance cost. If you take your boat out regularly and have heavy usage like towing skiers, you will likely pay more for insurance coverage.
Your Boat Insurance Claim Record
If you have filed a large amount of boat claims in the past, some insurance companies may require that you pay more for your boat insurance coverage because of your history.
Your Credit Score
Many insurance companies take in to account your credit score when determining what rate to give you for your boat insurance. Make sure to maintain your regular payments and keep up with your credit score.
Where the Boat Operates
Coverage pricing can vary depending on if you operate your boat in lakes, bays, rivers, oceans, etc. Some locations may cause more wear and tear on the boat than others, which may affect insurance rates.
Safety Measures in Place
If you have taken a certified safety course, you may be able to get a lower rate on your boat insurance. It can also help if you have Coast Guard approved radios and fire extinguishers.
If you currently own a boat or are considering buying one, our boat insurance experts can discuss your insurance coverage options with you in more detail. Contact us today at 877-945-7233 to learn more.