When you enjoy spending time on the waterways of Texas, it’s essential to look at boat and watercraft insurance. Having the protection can ensure that issues are taken care of in the event you’re involved in an accident, or something happens to your watercraft. At Beaty Insurance, we’re here to make sure that you get the coverage you need.
Is boat/watercraft insurance required?
While the state doesn’t require you to have boat or watercraft insurance, it’s still a good thing to have. Your homeowner’s insurance policy may cover some damage. However, it’s probably not going to cover everything. Further, if you’re still making payments on your watercraft, a policy may be required by the lienholder.
Knowing that you can file a claim with the insurance company if your boat is damaged, someone is injured, or your watercraft is ever stolen, it can make it that much more important to have a policy that you can rely on.
What You Need to Know About a Policy
When you’re getting a boat or watercraft insurance policy, you want to look at the type of policy that you’re getting. There are a few options based on how the insurance company will cover the cost of your boat:
- Replacement cost
- Actual cash value
- Agreed amount value
The cost of your boat will play a significant role in your policy as you want to make sure that you’re able to get the money you need to either repair or replace it. If you have to spend a lot of money out of pocket, it’s going to make it harder for you to get your boat or watercraft back into the water.
The good news is that there are several riders that you can add to make sure that you have all aspects of your watercraft covered.
Call us at Beaty Insurance today to discuss a policy for your boat or watercraft in Texas. We’re here to answer your questions and guide you through the process of customizing your coverage.