There are no state laws in Texas that require boat owners to obtain insurance. You should, however, consider purchasing a good indemnity plan if you own watercraft in Austin, TX. The best boat insurance policies prevent significant financial losses and may protect you from lawsuits. Southwest Insurance Center can help you create the boat insurance plan that best suits your budget and lifestyle.
What does boat insurance cover?
Boat insurance acts as a standard auto insurance plan by covering the following:
- Personal injury to individuals involved in an accident;
- Theft of the vessel;
- Damage to the vessel in an accident;
- Medical bills of those injured in an accident.
It may also be possible to purchase uninsured/underinsured motorist protection that guards you against financial loss if your boat is hit by another driver who lacks adequate coverage.
Does boat insurance pay for a new boat?
The best boat insurance policy will pay for a new vessel in the instance that your boat is damaged beyond repair. Not all policies, however, are equal.
Some boat insurance plans act as liability auto insurance coverage, which means they only pay for individuals injured and property damaged in an at-fault accident. You are responsible for all damages to your boat when you have this type of indemnity plan.
What type of policy should you choose?
Not everyone in Austin, TX can purchase a boat. You should, therefore, buy a plan that speaks of your accomplishment. While it may not be necessary to purchase the most expensive policy, you should certainly consider buying a boat insurance plan that at least pays to replace your vessel.
The agents at Southwest Insurance Center can help you fully understand what a boat insurance policy covers. Call them today to request a quote!