As one of the premier boating spots, it is no wonder that boat insurance is a frequent component in many Floridian’s budgets. Before making boat coverage one of your monthly expenses, it is important to consider boat insurance Florida average costs. This can range from a few hundred to up to a couple of thousand dollars depending on a number of different factors. Here are some of the few details agencies look at to determine your rate.
Your Boat’s Size
Your boat size matters because it plays a large role in the boat’s selling value. Insurers typically calculate 1% to 2% of your boat’s price and use that as the starting point for your insurance costs.
As a Florida resident, you know that hurricane season can be unforgiving on property. That is why Florida is one of the most expensive states for boat insurance. Agencies run a big risk by covering your boat, and this risk passes on to you in the form of high rates.
Your Past Boating History
An accident or ticket never looks good on anyone’s record. These past mistakes can also affect your boat insurance rates. Certain insurers can look favorably upon owners who have taken safety training courses in order to remediate these events.
After considering boat insurance Florida average costs, contact a Florida agency to see where you can save and how you can get the best coverage.