If you own a boat and are getting out on the water you'll want to consider boat insurance. This all depends on what type of boat you have and how much coverage you want or need.

The good news is that if your boat is powered by you then boat insurance is not necessary as it is covered under your homeowner's policy. So a paddle boat, canoe or kayak would be the cheapest way to go; besides the fact that you save on gas and get some exercise. The only downside is that your liability coverage is limited to whatever your homeowner's policy covers.

When a power boat or any boat with an engine is your choice then you will definitely have to consider separate boat insurance. Since boat insurance is a form of vehicle insurance you get many of the same options and coverage as your car insurance. These typically are damage, bodily injury, medical, theft and liability.

Besides whether or not your boat has a motor, the insurer will consider the size, type and dollar value when figuring out the policy rate. Oh and location, location, location is also important. You might want to consider adding towing insurance for more complete coverage.

All these options can be discussed with your insurance agent or researched on the internet at sites like ask Jeeves, Google or InsuranceGuide101. The internet sites usually give a number of competing insurance companies to check out and hopefully find savings there. Another consideration in saving money is a higher deductible, although the “out of pocket” cost if you have to make a claim might not be so desirable. Some insurers give discounts if you never make a claim, have certain safety equipment like fire extinguishers or radio (ship to shore, not music), etc. Even the type of fuel you use can affect your rates. So check out your boat insurance options and then go catch a wave and a tan.

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