A similarly sized sailboat might cost 25 percent to 50 percent less to insure. Just as sports cars are more expensive to insure than sedans, fast powerboats will cost more to insure than sailboats. There's plenty you can do to keep your insurance costs down. These are offered around the country by the U.S. Coast Guard Auxiliary and the U.S. Power Squadrons, and can give you a premium discount of anywhere from 5 percent to 20 percent. In some states, such as Connecticut, you are required to take one of these courses to operate a boat.
Some companies even offer discounts for vessels powered by diesel engines.
As with any insurance policy, higher deductibles can lower your premiums. Deductibles for watercraft policies range from 1 percent to 10 percent of the coverage. Before you opt for a higher deductible, you should make sure you can afford to pay it.