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Motorboat Making Wake on the LakePerhaps you've heard that you can save money by bundling your home and auto insurance together. This simply means that you'll purchase your home and auto insurance policies at the same time and from the same insurer. By doing this, you may be able to get a lower rate than what you would pay if you purchased two separate policies from two different insurers.

Should you consider bundling your boat insurance along with these other coverages as well? It may help to lower your costs, but there are a few things to keep in mind.

Buy a Boat Insurance Policy Right for You


A key mistake when selecting boat insurance is not purchasing a policy that is a direct reflection of your boat and the way you plan to use it. If you are planning to buy a new policy and bundle it, be sure the details of the policy cover these key areas:
  • Does the policy provide protection at a high enough level based on the value of your boat?
  • Does it offer replacement cost coverage or actual value coverage?
  • Does the boat insurance policy offer ample liability insurance based on the way you plan to use it? Those who operate at high speeds or in rougher conditions may need a higher level of protection.
  • Have you considered the boat's engine size?
  • Is everything on board your boat covered (both in value and by name) on the policy?
Fortunately, you can often still customize your boat insurance plan to match your needs when bundling coverage. The key is to pay close attention to the details of any policy that you do plan to bundle, because this can directly impact how well the policy protects your assets.

Bundling can reduce the overall costs of boat insurance significantly. However, you should never compromise the quality of your coverage for a lower cost. Be sure you are buying a policy that gives you the peace of mind you need on the water. Ask about available boat insurance discounts for bundling coverage. It can save you money and time in many situations.

Learn more about bundling options today. Start by calling Lancette Agency, LLC at (651) 264-1230 for a Minnesota boat insurance quote.
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