With so many costs rising, protecting your boat in New York with insurance is a wise move. However, you may wonder how you can save money on policy premiums. Many people know that bundling auto and home insurance is common, but does the same practice apply to insuring your watercraft? AW Burchell Agency Inc., serving Cortland, New York, can help you find an economical boat insurance policy.
Common Policy Types for Bundling Boat Insurance
Possibly the most common policies to bundle boat insurance with are auto and home insurance. Other standard bundles involve motorcycle and RV insurance. Some companies offering renters’ insurance allow you to bundle a boat policy if your watercraft is small.
Benefits of Bundling
Buying more than one insurance policy from the same company provides several benefits. The most significant advantage of bundling is cost savings, as insurance companies offer discounts when you have multiple policies with them. Bundling also offers significant convenience because you only have to deal with one company. This advantage makes payments, claims, and a single renewal date much easier to manage. These cost savings can be substantial, but you have to weigh them against other advantages that might be served by having a non-bundled policy.
Additional Considerations
Before bundling your boat policy with other insurance policies, you need to ensure that a good rate offsets what you may receive from another company, like broader coverage. Some companies may impose a cross-policy impact. That means if you file a claim on your auto policy, it may affect the premiums on your boat or other bundled policies. You should also review the policies of other companies to ensure you receive the best coverage for your money.
Learn how bundling could save money on your boat insurance coverage by contacting AW Burchell Agency Inc., serving Cortland, NY and surrounding areas. Contact our office today for an appointment.
