Paying your boat insurance premium gives you protection and coverage when you need it most, like after a total loss, for liability arising from an injury to a third party, and more.

Basically, insurance is a great idea. Not overpaying for that coverage is an even better one.

Hi, SkiSafe here. Nice to meet you (insert hand-wave emoji here). Allow us to introduce ourselves - we’re a recreational boat insurance company, offering quality coverage at a price that’s guaranteed to result in a smile. Got a center console? Sailboat? Inboard motor yacht? Or any other kind of boat? We got you.

We understand you may have some follow-up questions. Here are some of the most common ones we get:

Doesn’t everyone have the same premium?

Nope. Your coverage is specific to your boat, and therefore, your premium is specific to you. When we give coverage, we consider all the perils and risks you may face. Based on that information, we will assess the risk associated with a potential policy to determine your rate.   That’s called underwriting.

When everyone pays the same premium, one of three things is happening in the background –

1. You’re overpaying for coverage.
2. You may not have enough coverage.
3. Or worse, a combination of both - an expensive policy for little coverage.

That is exactly what we’re trying to avoid. Coverage should be comprehensive, but also fair and affordable.

» RELATED: Insurance Premiums and Deductibles - Explained

How is the premium dollar amount determined?

The premium is based on the information in your application. Things like your experience, location, and boating history will all play a factor when setting your premium.

Other factors include the type of boat you have, how many months out of the year your boat is in the water, how it is stored and the specific coverage limits you request.

So how can I pay as little as possible?

We’re glad you asked. There’s a difference between purchasing comprehensive coverage at an affordable price versus paying as little as possible. Paying as little as possible will give you basic protections, from liability-only scenarios, but it may not give you the coverage needed to fully protect your boat and your finances.

When it comes to insurance, think about what is going to be more beneficial and financially-savvy in the long-run. Short-term savings could lead to long-term regrets.

That’s why we always recommend getting the coverage needed to fully protect against the risks associated with owning and operating watercraft.

Okay, got it. So how can I get good coverage at an affordable price?

Also, glad you asked. The first step is to get a free boat insurance quote on our website. Getting a quote will give you an idea of the cost of coverage.

Next, you can tap an expert to review your coverage options. This could be your preferred broker or someone directly at SkiSafe. It’s always a good idea to confirm you’re signing up for something that’s a good fit.

Also – we offer a lot of discounts. Like a lot. Chances are you’ll qualify for at least one. Here are some of the most popular ones:

• Boating Safety Course: a qualified safety course will help you learn basic boating rules, while also saving you money on boat insurance.
• Clean Driving Record: you know that a spotless MVR helps save on car insurance. The
• same holds true for marine insurance.
• Navigable Waters: if you only navigate in protected waters, such as the Chesapeake Bay
• or Long Island Sound, you can save money without sacrificing anything.
• Multi-Craft: insuring more than one watercraft with us will give you a significant discount.
• Winter Layup: we offer big savings if the vessel is not used for at least four consecutive months.
• Experience: in boating, your experience counts. So you'll be able to count your savings by telling us about yours.

» MORE: Boat Insurance Discounts

From there, the underwriter will prepare a quote that outlines much of what we discussed above. It’s important to review your coverage and options  before signing on the dotted line. Make sure it’s exactly what you want.

Insurance is personal. Your coverage and premium should reflect that. You can assume anything that comes in a one-size-fits-all policy doesn’t necessarily reflect your best interests. Get a policy that gives you the coverage you need, at a fair price. At the end of the day, your boat insurance policy is there to catch you when something goes wrong.