What factors affect the price of boat insurance?

boats

The price of boat insurance will depend on many factors, as is the case for all insurance. Insurers must determine the level of risk to assess the amount of potential compensation, and therefore of contributions. Motorboat or sailboat, the boat of 6 m, 10 m, 20 m, more or less powerful engine, it is, in particular, the characteristics of your boat that impact the cost of your boat insurance.

What factors affect the price of boat insurance?

The price of your boat insurance is determined according to different elements. Each insurer reserves the right to set its rates according to an evaluation grid and very specific criteria. However, most of the time, the price of the insurance of a sailboat, a zodiac, or other motorboat is consecutive to:

  • its length;
  • its engine (brand, fuel, power, year of construction; the number of hours of engine use);
  • her brand ;
  • its model;
  • the year of construction;
  • the value to be insured;
  • the use of the boat (private or professional, for you or for hire, main residence or pleasure boat for a trip at sea, etc.);
  • the activities practiced (pleasure, fishing, water sports);
  • the navigation area;
  • the frequency of navigation;
  • Pavilion ;
  • the usual place of parking of the boat;
  • the wintering place;
  • your history as an insured for a boat.

What types of boats provide the cheapest insurance?

If you’re considering finding cheap boat insurance, it’s best to get a small, used boat. In terms of boats, it is clear that the choice is extremely important.

There are small boats of 4 m maximum like the Karel 400, the Rigiflex New Matic 360, or the 3D Tender World Travel. Even with comprehensive guarantees, you are sure to find cheap boat insurance.

For comparison, a bigger and more powerful boat will cost you much more in boat insurance. Take for example the 6.99 m Quicksilver 755 Cruiser, a quite reasonable size to enjoy the pleasures of sea navigation for a simple trip or even for sea fishing. This time, April Marine offers you the same guarantees (with additional nautical safety, standard assistance, and standard legal protection) at €829.12 per year.

How much does boat insurance cost?

When we study the subject of the price of boat insurance a little, it appears that on average, it costs around 100 € per year for minimum guarantees and 400 € for all-risk insurance. However, this remains an average and only concerns certain types of boats among the smallest.

In reality, the price to pay can be much higher as mentioned above. All you have to do is run a few simulations on certain insurer sites to find out the price of your boat insurance and get a more precise idea of ​​the price to pay according to your specific profile. Indeed, some insurers offer to make an online quote, which allows you to a better plan. It is also a solution that allows you to adapt your boat to your budget. It is possible to request a boat insurance quote without even having purchased your boat.

Also, by doing a few simulations, you will know which boat you will be able to insure according to your budget in order to navigate serenely at sea or on the rivers of France and Europe.

How to save on your boat insurance?

To save money on your boat insurance, it’s simple, you have to base yourself on the elements taken into consideration by the insurer when calculating its rates. Also, a boat capable of making you pay less for your insurance is a boat:

  • used with low value;
  • short ;
  • with a weak motor;
  • that you use from time to time near the French coast;
  • which is protected throughout the winter in an enclosed and secure space.

Is the price of boat insurance the only selection criterion?

It is perfectly understandable to see boat owners looking for the best price for their boat insurance. However, it is important to ensure that you find the most suitable rate according to the guarantees you need. To navigate, you have no insurance obligation. Also, even if it means taking out cover for your boat, you might as well be sure that you will be insured.

Hitting a rock is a major risk that leads to many costly material damages. A shipwreck, pillage, a grounding, these are the many risks with a boat. And don’t forget search and support costs. Clearly, at the slightest disaster, the bill can be heavy. Your boat insurance allows you to protect yourself and thus protect yourself financially. Therefore, if the price of your boat insurance is a criterion of choice, do not forget to estimate the cost of a claim not covered by your insurer.

How to find the best boat insurance at the best price?

If you do not want to make concessions on the price or on the guarantees, there is still a solution: take the time to compare prices. For this, two solutions are offered to you, namely the insurance comparator and the insurers themselves.

Just look at the table above to see that prices can vary greatly from one insurer to another. Comparing means offering you the possibility of finding a complete guarantee while benefiting from the best price for your boat insurance. Also, you make no compromises and can navigate serenely.

Take the time to carefully compare boat insurance guarantees, they may differ from one insurer to another. Compare essential guarantees, namely civil liability, damage to the vessel, theft, loss, and assistance. Then study the additional guarantees that could be adapted to your practice of the boat like water sports (buoy, pudding, water skiing). This is not necessarily included, some insurance companies offer these guarantees as an option.

By aamritri

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