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Safety Measures That Pay Off: Lowering Watercraft Insurance

Watercraft insurance is an essential investment for boat owners, providing financial protection in the event of accidents, theft, or damage to their vessels. However, the cost of watercraft insurance can be significant, especially for high-value boats or those with a history of claims. Fortunately, there are several safety measures that boat owners can implement to lower their watercraft insurance premiums. By taking proactive steps to mitigate risks and demonstrate responsible boating practices, boat owners can not only enhance their safety on the water but also enjoy substantial savings on their insurance policies. In this article, we will explore five key safety measures that can pay off by lowering watercraft insurance costs.

1. Install Safety Equipment

One of the most effective ways to lower watercraft insurance premiums is by installing safety equipment on your boat. Insurance providers often offer discounts for boats equipped with safety features that reduce the risk of accidents or injuries. Some essential safety equipment that can help lower insurance costs include:

  • Life jackets: Ensure that you have an adequate number of properly fitting life jackets for all passengers on board.
  • Fire extinguishers: Have at least one Coast Guard-approved fire extinguisher on your boat.
  • Navigation lights: Ensure that your boat has functioning navigation lights for safe operation at night.
  • Anchor and anchor line: A reliable anchor can prevent your boat from drifting into dangerous areas.
  • First aid kit: Keep a well-stocked first aid kit on board to handle minor injuries.
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By equipping your boat with these safety features, you demonstrate your commitment to responsible boating practices, which can lead to lower insurance premiums.

2. Complete a Boating Safety Course

Another effective way to lower watercraft insurance costs is by completing a boating safety course. Many insurance providers offer discounts to boat owners who have successfully completed an approved boating safety course. These courses cover essential topics such as navigation rules, emergency procedures, and safe boating practices. By completing a boating safety course, you not only enhance your knowledge and skills as a boat operator but also demonstrate to insurance providers that you are a responsible and educated boater. This can result in significant savings on your watercraft insurance premiums.

3. Maintain a Clean Claims History

Insurance providers consider a boat owner’s claims history when determining insurance premiums. Boat owners with a history of frequent claims or accidents are considered higher risk and may face higher insurance costs. On the other hand, boat owners with a clean claims history are seen as lower risk and may be eligible for lower insurance premiums. To maintain a clean claims history, it is crucial to practice safe boating habits, follow navigation rules, and take necessary precautions to prevent accidents or damage to your boat. By doing so, you not only reduce the likelihood of filing a claim but also demonstrate your commitment to safety, which can lead to lower insurance costs.

4. Choose a Higher Deductible

When purchasing watercraft insurance, boat owners have the option to choose a deductible amount. The deductible is the amount the policyholder must pay out of pocket before the insurance coverage kicks in. Opting for a higher deductible can help lower insurance premiums. While a higher deductible means you will have to pay more in the event of a claim, it also reduces the insurance provider’s risk, resulting in lower premiums. Before choosing a higher deductible, it is essential to consider your financial situation and ability to pay the deductible amount in case of an accident or damage to your boat.

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5. Store Your Boat Properly

Proper boat storage is not only crucial for maintaining the condition of your vessel but also for lowering watercraft insurance costs. Insurance providers often offer discounts to boat owners who store their boats in secure locations, such as marinas or storage facilities. Storing your boat in a secure location reduces the risk of theft, vandalism, or damage caused by weather conditions. Additionally, using boat covers, installing security systems, and implementing theft deterrents can further reduce the risk and potentially lead to lower insurance premiums.


Lowering watercraft insurance costs is possible by implementing various safety measures. By installing safety equipment, completing a boating safety course, maintaining a clean claims history, choosing a higher deductible, and storing your boat properly, you can not only enhance your safety on the water but also enjoy significant savings on your insurance premiums. It is important to remember that insurance providers may have different criteria for determining discounts and premiums, so it is advisable to consult with your insurance agent to understand the specific requirements and opportunities for savings. By prioritizing safety and taking proactive measures, boat owners can protect their investment and enjoy the pleasures of boating with peace of mind.

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