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Boat insurance protects you from the unexpected perils similar to how auto and home insurance policies would cover you. And even though it is not required in the state of Texas, it will still be a smart choice to obtain it for your jet ski, boat, personal watercraft, or any watercraft.
Different Types of Boat Insurance
As with auto insurance, there is liability insurance available. With this insurance, others’ injuries will be covered if you are at-fault while on your boat. Other insurance types include the following:
Replacement Cost
With this coverage, you can repair or replace your boat when it is damaged.
Actual Cash Value
This coverage reimburses according to your boat’s current value.
Agreed Amount
This is a reimbursement amount previously agreed upon instead of the current boat value.
Comprehensive
Comprehensive boat insurance typically covers almost everything except for intentional damage and normal wear.
Limited or Named-Peril
Named-peril insurance policies cover losses specifically listed, such as vandalism, lightning, collisions, fire, tornadoes, and collisions.
Boat insurance is not required to have in Texas, but it is surely good to have. Even if you are hardly using it and it’s in the garage, home insurance policies usually won’t cover your boat, jet ski, or other watercraft in case of damages occurring to your home and property.
So, for more information about boat insurance, contact a professional, reliable, and experienced insurance agency today. Collum Insurance Group LLC in Richardson, TX has been providing top-notch insurance products for approximately 30 years. So, if you live in Richardson, TX, or surrounding areas, contact them today. Collum Insurance Group LLC is more than happy to assist you.