The water sources in Texas provide a number of opportunities for recreational water sport and boating. However, there is no Texas law that requires you to have boat insurance. It is important to note that there are still risks and while you are obligated to follow different strict operational requirements, there are still no guarantees. There are a number of reasons to have boat insurance and the different options you have.
With boat insurance in Austin, TX not required, it’s important to understand the coverage options you do have. Many home insurance policies do cover damage to your boat but these policies won’t provide any liability coverage. You will also need a separate boat insurance policy to cover a boat that is more expensive or to pay for injuries or damages to others.
There are different boat insurance policies that you can get. Replacement cost policies will pay to replace or repair your boat. Cash value policies will pay to replace or repair your boat minus current deprecation. With this type of policy, you may pay less in premiums but you will get less cash if you use your policy. A policy with an agreed-upon value will pay to replace or repair the boat up the set value that is stated on your policy.
It’s important to understand your policy in Austin, TX and discuss any concerns with an agent at Southwest Insurance Center. Since boating insurance is not required you may want a policy that suspends coverage during the time you aren’t using your boat. There also may be limits on your policy if you plan on using it in the ocean. You need to make sure your policy fits your needs. Don’t forget to ask about restrictions on underage drivers.
Contact Southwest Insurance Center to get a quote on boat insurance.