There are many factors that can affect boat insurance rates. While some of these factors can be in your control, others are not. So if your regular sailing route passes over a lake with higher number of claims, you should expect to pay more for the coverage compared to a lake that has a lesser claims rate.

But that is not the only factor that affects boat insurance rates. The other factors taken into account are:

How much your boat is used: A boat that is used occasionally for fishing trips will usually have lower insurance rates than a boat used for parasailing, wake boarding, and tow water skiing.Your previous claims record: The more claims filed previously, the higher the rate will be.Your previous record in automobile driving: If you are a good automobile driver, you are highly likely to be a good boat driver.Other’s experience in driving boat: If you add others like a teenager in the family as a driver, the rates can get higher.Boat horsepower: Usually, the higher the engine horsepower, the higher will be the boats insurance rates.Steps towards safety: If you have completed some certified safety course or your boat has fire extinguisher and radio approved by Cost Guard, the rates may get reduced.Age and gender: According to various studies, you are highly likely to get better boat insurance rates if you are a woman and above 27, as compared to men in your age. Even if the driving records are equivalent.