5 insider tips for saving more on your boat insurance

Marine insurance companies look at a number of different factors when determining how much a person, or a business, should have to pay. Unfortunately, not every vessel, and not every boat owner is created equal. Luckily, there are some fairly simple things you can do to reduce the insurance premium on your vessel.

We’ve blogged our top 5 insider tips for saving more on your boat insurance.

  1. Your level of experience

The number of years and level of experience you have with boats makes a difference to the insurance premium you’re going to pay. This bodes well for mariners who have been on the water for a while, but what about those just getting into the sport?

Trident Group Operations Manager, Stephanie Muller, said that if experience is light on, boaties should consider doing an advanced course. Successfully completing an advanced boating course will indicate to marine insurance companies that you are capable on the water.

Ultimately, marine insurers use this, and other factors, to calculate how much of a risk you are to insure. The lower the risk you and your vessel present, the lower your boat insurance cover is likely to be.

  1. Where your vessel is moored

Vessels moored in the open ocean are far more likely to face damage due to hazardous weather conditions. There’s also an increased risk of boat collision, which makes it more likely that you’ll need to make a claim at some point in your boat’s lifetime.


Keeping your vessel in a marina berth over a swing mooring is probably the safest way to ‘park’ your vessel, when you’re not navigating the high seas (or whatever body of water takes your fancy).

Doing so is also likely to reduce your marine insurance premium further, which makes it even more worthwhile.

  1. Vessels under 8-metres

Stephanie also told us that vessels under 8-metres in length should ideally be stored on a boat trailer. Once again, this is all to do with reducing the likelihood of damage to your vessel, which in turn makes it a safer option for insurers.

Just make sure your trailer is in good working order by having it serviced on a regular basis. Also check your taillights, including your brake lights before you hit the road, as collisions of any kind are something every boatie wants to avoid.

  1. The age of your vessel

That old tug boat you fell in love with 30 years ago may be in great nick, but a marine insurer will almost certainly see it as a higher risk than, say, a brand new Anglapro Sniper. Your best bet is to have a survey report conducted to prove the vessel is in good working order.

“We don’t mind old vessels, as long as they are well looked after,” Stephanie said.

If you’d like contacts for reputable surveyors in your area, please email us.

  1. Pay a higher excess

It may sound obvious, but paying a higher premium on your marine insurance will lower the cost of your ongoing insurance payments. It’s worth discussing this with your insurer when you’re negotiating the terms and cost of your boat insurance, just to see what kind of margins you can achieve.

If you can achieve one or more of the tips above, you’re well on your way to reducing insurance costs on your vessel.

Get a free quote on your boat insurance now

Our competitive quotes are free of charge for recreational and commercial boat owners in Australia, and worldwide. Just contact us online, or call us to speak with a marine underwriter.

We insure many different kinds of vessels – from luxury liners to stand up paddleboards, and most others in between.

Contact us for a free quote on your boat insurance today.