When you’re looking for boat insurance there are many ways to spend less.
It’s a good idea to take advantage of as many of these discounts as you can. Each little saving adds up and can end up making a big difference. Here are five ways to save.
1. Increase your safety knowledge
Insurance companies know that when you increase your safety knowledge, it will make you more aware of potential dangers and lessen the chances that you will submit a claim. They will lower your insurance premium based on you taking appropriate classes.
2. Get a multiple policy discount
When you have more than one policy with the same insurance company, you can save money. If you have your homeowner’s and boat insurance with the same company, you can receive discounts of up to 20%.
3. Pay upfront for the year
You will usually receive a big discount if you can pay for your policy in full at the beginning of the year versus paying monthly—a 10% saving is typical. Not only does this save you money, it is one less thing to worry about each month.
4. Set up automatic payments
Many companies offer a discount for simply having your premium automatically deducted from your bank account each month. The insurance company saves on labor and passes these savings on to you.
5. Find specialty discounts
Boats are used for a variety of reasons. Your insurance agent may be able to find additional discounts based on your unique circumstances.
At John B. Wright, we believe we have more experience in the maritime insurance field than any other company along the eastern seaboard. Contact us to get a free review of your unique needs.
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