What's a Boat Insurance Quote?
You’re shopping around for boat insurance. You keep seeing “Get a Boat Insurance Quote” or “Get a Quote” when you’re searching for boat insurance. You’re new to boating and you are wondering what that means.
A boat insurance quote gives you an estimate of how much it will cost to insure your boat. You’ll need several quotes to compare boat insurance policy coverage and prices to suit your needs and budget.
Western Financial Group, a 100% Canadian company, can help you navigate your boat, car, home, and business insurance during this period of economic uncertainty.
What questions will I be asked when I am getting a boat insurance quote?
Information about your boat
The specifics about your boat will play a key role when you get your boat quote. These factors can impact your boat’s potential repairs costs and durability, and your quote.
You will be asked about:
- Make
- Model/type of boat
- Year
- Length
- Any modifications or upgrades
- Boat registration
- Hull number
- Any past claims/accidents
Western will get you a boat insurance quote that protects your boat at the right value for you.
Your docking location and where you store your boat
Where you plan to dock your boat and where you plan to store you boat in the winter can affect your boat insurance quote.
If your boat will be stored at a marina, warehouse, or private boat storage for the winter, it could potentially lower your premiums because the risk of damage from storms, ice, and snow would be reduced.
In boating season, are you docked at a marina or is your boat sitting in your yard or driveway? These options may affect your boat insurance quote.
How do you use your boat?
Your boat insurance quote will also depend on how you will use your boat. Are you using your boat for fishing, pleasure cruising, or water sports? Each activity has its own risks and different insurance considerations. Will you be sailing in fresh water or salt water? Are you going to be in international waters? Your geographic choices will affect your boat insurance quote.
Boat insurers will also want to know whether you plan to use the boat year-round or seasonally. If your boat is used seasonally, boat insurance providers will want to know where it will be stored and how it’s protected from the elements. If you don’t properly winterize your boat, a claim involving snow or ice damage could be voided by your boat insurer.
Your information
You’ll need to give your full name, address, and contact information when you are getting a boat quote. You could be asked for your date of birth. Older boaters are considered as more experienced and less likely to engage in risk boating behavior, which can mean a lower boat insurance quote.
Your boating experience, a clean boating record, and safety courses can contribute to a lower boat insurance quote for you, too.
If you are a new boater, you may end up getting a higher boat insurance quote due to your lack of boating experience.
Do you have any past boating claims? Is your driving record clean? This can affect your boat insurance quote.
Don’t forget to tell your boat insurer how many drivers will be taking the wheel of your boat.
Should I consent to a soft credit check for a boat quote?
It’s your choice when you’re getting a boat insurance quote, but it can be advantageous.
A soft credit check looks at the information in your credit report and, most importantly, does not impact your credit score. Your boat insurance broker will request your informed consent prior to checking your credit report.
In many cases, a soft credit check will allow an insurance broker to give you the best price for your boat insurance quote. It is a factor that determines the level of discount available to you on the insurance product you are seeking.
Why should I get boat insurance?
Boat insurance is not mandatory in Canada, but your financial lender may ask that your boat be insured as a condition of financing. If you are docking at a marina or use a private boathouse, you may be required to carry a specific amount of liability insurance and show proof of boat insurance. Many marinas require $3 million in liability insurance.
Boat insurance protects you, your loved ones, and your investment in your boat.
Your boat policy coverage with Western Financial Group is an all-risk policy subject to certain exclusions. Check with Western’s boat insurance experts about what your boat insurance policy includes and excludes.
Western will do the insurance shopping for you and provide you with boat insurance quotes to choose from that suit your needs and budget.
