Not surprisingly, many factors affect the cost of Maine boat insurance<\/a>. Most of them depend upon you and the boat you own. Here are the top four factors that influence the cost of boat insurance.<\/p>\n The more expensive the vessel, the more it costs to insure. Makes sense, right?<\/p>\n Age matters, too. Picture two identical sailboats on adjacent moorings in Portland Harbor. One is 20 years older. The older boat\u2019s insurance is more expensive. Insurance underwriters charge extra for yachts over 11 years old. Vessels older than 20 years may need a condition & valuation survey to get insurance.<\/p>\n Have you operated boats for years? You get good insurance rates. Were those boats similar to the one you\u2019re insuring? That\u2019s even better. Have you owned<\/strong> (vs. operated) a similar vessel? Boat insurance underwriters love that. Have a Coast Guard Power Squadron certificate, or a captain\u2019s license? You\u2019ll get a discount. Bad auto driving record? You\u2019ll pay more for boat insurance.<\/p>\n Assuming boats of comparable value, sailboats are the cheaper to insure than power boats. Diesel powered craft are cheaper to insure than gas powered ones. The slower the maximum speed, the lower the insurance cost. Speedboat insurance costs the most. Do you live aboard your boat? Expect to pay quite a bit more than the weekend sailor at the next slip. But at least you don\u2019t have to mow the lawn.<\/p>\n You\u2019ll earn boat insurance discounts for onboard safety equipment. Some examples:<\/p>\n Your boat insurance policy may have a navigational limit. It may also have a \u201clayup clause\u201d, which specifies dates during which it can be in the water. If your vessel is outside the territory or in the water when it\u2019s supposed to be laid up, you have no insurance.<\/p>\n A smaller navigation radius and a longer storage period means lower boat insurance costs. \u201cFresh water only\u201d navigation is cheaper than coastal. For Maine saltwater boaters, Eastport to Cape Ann is a common navigation territory. The most common storage (or \u201clayup\u201d) requirement is November 1 to April 1. Some of our clients who take their boats south for the winter. They need a different navigation territory and layup clause \u2013 and pay more premium for them.<\/p>\n![\"\"](\"https:\/\/www.noyeshallallen.com\/blog\/wp-content\/uploads\/2018\/03\/Marina-1024x576.jpg\")
<\/a>Age and Value of Boat<\/strong><\/h2>\nYour Experience<\/strong><\/h2>\n
Vessel Type and Equipment<\/strong><\/h2>\n
Boat Insurance Discounts<\/strong><\/h2>\n
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Where and When You Use the Boat<\/strong><\/h2>\n
Where to Get Boat Insurance in Portland Maine<\/strong><\/h2>\n