Determining the Price of Boat Insurance

average boat insurance costs

Determining the Price of Boat Insurance

With all the variations in insurance policies, it can be difficult to determine a specific price. However, there are certain deciding factors that can help you determine the average boat insurance costs.

Deciding Cost Factors

Just as with any insurance policy, there are certain factors that determine the type, limit and scope of the policy. This is generally referred to as the risk assessment stage, where an agent analyzes certain factors that decide the policy you receive. The same is true for boat insurance. The following is a list of some of those factors:

Previous boat insurance claims

How the boat is used

Who drives the boat

Safety measures including equipment and courses

A valid driver’s license


There are also other factors such as the region your boat is located. This is because hurricane areas may have a higher risk factor than other locations, which can increase the price of your policy. The typical cost for boat insurance is between $300 and $500 per year, but you should be aware that this might fluctuate depending on the above factors.

Pricing Your Boat Insurance

Now that you understand the determining factors of insurance prices and the average boat insurance costs, you can select a policy. An agent can help you review the risks and factors, so you can end up with a policy that reflects your needs, your boat and your region.