Boat Insurance Basics

Owning a boat in Austin, TX takes a bit of work and a lot of responsibility. However, all the hard work and responsibility are worth it when you get the boat out onto the water and spend a day with friends and family. To help protect you against paying high costs of repairs or medical bills for injuries from an accident, you should carry boaters insurance. The agents at Southwest Insurance Center understands the need for boat insurance and are ready to help get you the coverage you need. 

Small Craft Coverage

Small crafts, such as any watercraft with an engine less than a 25-mile per hour horsepower, small sailboats, and canoes, might be covered under your primary homeowners or renters insurance policy. Liability coverage is typically not included, but some endorsements can be added to your existing policy to provide you full coverage. 

Larger Boats

Larger and faster boats, such as yachts and speedboats, require a separate insurance policy. Your boaters insurance policy will cover physical damage to the boat, property damage if you hit another object, theft, and medical payments. Boat insurance policies have deductibles and caps on their payouts. Purchasing an umbrella insurance policy can help pay for any money owed over the cap of your insurance policy. 

Boat Insurance Coverage

Boat insurance coverage varies by policy, but most policies cover the following: 

  • Physical damage to the boat
  • Theft of the boat
  • Bodily injury to others than the boat owner
  • Damage caused to someone else’s property
  • Medical payment for injuries
  • Guest passenger liability
  • Trailer or boat accessories
  • Theft of belongings
  • Towing in the event of an accident

Those with a boat in Austin, TX should reach out to Southwest Insurance Center to learn more about their boater’s insurance options.