GetMyBoat’s app offers users the ability to browse and book or rent watercrafts that fall into their budget and specifications. The reservations and payment can then be made through the application.

“The only way an insurance provider can make their application sticky is to offer an enhanced suite of content and information services such as weather, routes, boat safety, social-share-a-boat service that justifies the consumer’s time and phone top real-estate,” said Gary Schwartz, president and CEO of Impact Mobile, New York.

Mr. Schwartz is not affiliated with GetMyBoat but agreed to comment as an industry expert.

Innovative boating insurance
GetMyBoat’s insurance policies are the latest products of an evolving slew of financial services and products that are becoming readily more accessible through mobile devices.

GetMyBoat’s new global boat rental insurance promises customized coverage policies to users inside and outside of the GetMyBoat platform. The insurance is underwritten by a globally trusted insurance provider, Falvey Yacht Insurance, and offers daily, weekly or custom duration policies.

Basic plans begin at $29 per day, with plus and premium plans beginning at $45 and $65 per day, respectively. GetMyBoat’s app is designed to give customers the luxury of renting a charter as quickly as several minutes before their desired boarding time.

Once the type of policy is selected, the client is then directed towards a page to fill out information on the boat rental, type of watercraft, captain, and payment information.  A rental insurance quote is provided as well.

“At GetMyBoat, we make it as simple as possible to get insured,” said Kira Maixner, Social Media and Community Outreach Manager for GetMyBoat. “The process for purchasing this coverage is simple for anyone who needs it and is similar for both GetMyBoat users or boaters just stopping by to get coverage.”

“We want to combine ease with transparency, so you’ll know exactly what coverage you’re buying and what you’ll have on the water. We will bring this component to our app in the near future to better optimize the mobile purchase of boat rental insurance to allow renters and owners to get covered instantly, right from the docks.”

Easy access
GetMyBoat’s platform heavily relies on reviews from boaters and renters in order to enhance customer safety. This personalized approach has helped transform it into the fastest growing peer-to-peer charter marketplace and boat rental service, per the company.

“The call-to-action, activation, and download is a giant leap for the consumer. If a brand wishes to take the friction out of an impulse service at the dock before the consumer boards a boat, they need to think of the initial activation challenge,” said Mr. Schwartz.

GetMyBoat’s personalized approach and easy, several-step access to renting and chartering watercrafts has proven to be a successful activation technique. It markets itself in the vein of Airbnb, Uber, VRBO and other sharing platforms that enable users to list their available assets for reasonable prices.

The company was founded a decade ago with the hopes of combatting the high costs associated with watercraft ownership and providing consumers with an affordable and simple way of entering the “Sharing Economy” of boating.

“We strive to bring safe boating to everyone. With the launch of this unique product, we have seen more engagement and increased traffic,” said Ms. Maixner. “We really see GetMyBoat as a global boating community and this insurance product helps to protect each of its members. ”

 Final Take
Alexandra Samuely is an editorial assistant on Mobile Commerce Daily, New York