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What Are the Main Factors That Affect Boat Insurance?

Boating is one of the most popular pastimes in South Florida. The state leads the nation in watercraft, with 959,816 thousand recreational vessels registered as of 2020. A boat represents a considerable investment and insurance is essential. The following factors will affect the cost of boat insurance.

Size Matters

Larger vessels will cost more to insure than smaller ones. A larger boat can cause more damage if there’s a mishap and increases the cost to the insurance company for repairs, restoration or replacement.

Navigation Area

The navigation area of a vessel significantly increases the potential for expensive repairs, recoveries, tow bills, and injuries. Those that venture into international waters will pay more than boat owners that stay closer to the shoreline.


People that regularly take their boats out will pay more than those that only take their vessels out for a limited time each year. The less a boat is utilized, the fewer chances there are for accidents, injuries and mishaps.


The age of the operator and the watercraft are factored in to insurance costs. A newer vessel will cost the insurance company more if its stolen, damaged or vandalized. Younger people also tend to take more chances than older and more experienced operators.

Driving Record

Insurance companies assume that an individual’s driving record on land is an indication of how they’ll behave on the water. People with accidents and tickets or who have claimed their car insurance will be charged more for their boat insurance.


Less experienced boaters are more likely to stray from their stated navigation areas and make mistakes accidentally. Taking a certified boating education course can net individuals a discount on their boat insurance.

Previous Coverage

Boats that have been insured in the past, or are ensured when the new owner obtains their own coverage, may receive a discount. The amount of coverage and deductible chosen will impact rates and premiums.


Vessels stored in a secure storage facility are less likely to be vandalized, stolen or sustain damage from storms and hurricanes. Mooring a vessel in a marina with adequate security measures may also earn a discount.

For more information about how The Sena Group can help you with any

of your insurance needs, please contact us at 561-391-4661.

We can be found on Social Media at the following links.


The Sena Group
6501 Congress Ave., Ste. 100
Boca Raton, FL 33487