BoatU.S. unveils low-deductible insurance

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BoatU.S. marine insurance recently introduced its "Diminishing Deductible" program.

For every year a boater, sailor or angler remains claims-free, the program discounts the policy's hull coverage deductible 25 percent at renewal until it reaches zero. And once it reaches zero, it stays that way as long as you remain free of claims.

"This is another way we are trying to help boaters out in a tough economy," said Mike Pellerin, BoatU.S. vice president of marine insurance.

For boaters on a tight budget, BoatU.S. has tips to save on boat insurance:

  • Take a boating safety course free and get a discount on your insurance premium: Most insurance companies offer a discount for completing a boating safety course, but finding one that fits your budget, schedule and is nearby can be hit or miss.
  • Try taking the BoatU.S. Foundation's free Online Boating Safety Course at home. It allows you to start, stop and go back at any time, and it's also recognized as boater certification in 31 states. BoatU.S. membership is not required. If you prefer a classroom course, the BoatU.S. Courseline at www.BoatUS.com/courseline can show you where the next boating safety classes are being held in your area.
  • Try adjusting your boat insurance: If you have owned and insured your boat for a long time, you may want to consider reviewing and lowering the total value of your policy. Depending on your circumstances, you might even consider purchasing a liability-only policy to save money.