Marine Insurance Florida Factors That May Impact Your Rate

April 4, 2022

Marine insurance Florida rates are highly variable due to a litany of important considerations that must be taken into account. Similar to how banks check a variety of areas before approving loans, marine insurance Tampa companies also have to do their research before deciding on rates for various boaters. This is because no two boat/boater combinations are exactly the same. If you’ve been considering purchasing marine insurance Florida, you may be wondering what exactly you can do to get a lower rate, if anything at all.

Outboard Motors

Insuring outboard motors may actually get you a discount on your overall insurance rate. Since outboard motors are easier to access for maintenance and repair, your outboard motor will likely have a longer lifespan. As a result, the motor will be less likely to result in an insurance claim. However, if you purchase many high-dollar motors, you may end up paying slightly more. This is due to the additional power and speed they contribute to your boat.

Top Speed

Higher speed, in the eyes of boaters insurance Tampa FL companies, means a higher risk for injury and vehicle damage. Some companies may actually give you a discount if your boat’s top speed is below 35 MPH. If your boat is extremely fast, companies may charge you extra or even outright refuse coverage due to the association between vessel speed and overall risk.

Operator Safety

The safety track record of the person purchasing the insurance is also taken into account. In some states, including Florida, a certificate from a NASBLA or Coast Guard recognized safety course is not required to drive a boat if you were born before 1988. However, having documented proof that you have taken a boating course, can take money off of your premium. Additionally, marine insurance Florida companies will consider your driving record. If you can prove that you have a tendency to safely operate vehicles, you may save yourself a little bit extra on your rate as well.


Where your boat is located can also greatly impact how much you’ll pay annually for boaters insurance Tampa. Being located in high-risk flood zones or in areas that are frequently hit by extreme weather conditions can mean that it will cost more to insure your boat in comparison to your inland counterparts.

Marine Insurance Florida | HH Insurance

Amazingly, insurance agencies consider even more aspects before they decide on the rate they will offer. Taking all of these points into consideration can be stressful and overwhelming to the buyer. That’s why HH Insurance helps you find the best policy for your new boat. Head over to the HH Insurance website and learn more about what contributes to your marine insurance Florida rate and how HH Insurance can get you the best premium possible!


**This blog provides a brief overview of the terms and phrases used within the insurance industry. These definitions are not applicable in all states or for all insurance and financial products. This is not an insurance contract. Other terms, conditions and exclusions apply. Please read your official policy for full details about coverage. These definitions do not alter or modify the terms of any insurance contract.