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Watercraft & Boat Insurance

Watercraft & Boat Insurance Information

Texas Boat Insurance

There are ample places to have fun on the water in Texas. But unfortunately, a lot can go wrong while boating. As such, it's important for boaters to protect their vessels.

If you own or operate an independent insurance agency in Texas, offering boat insurance is essential.

Whether you're boating across Grapevine Lake or along Lake Texoma, there's no shortage of places to have fun in Texas. Taking a boat out during the summer is one of the best parts about living in Texas. But it's important to keep that boat protected in the event of damage or disaster. Boats aren't cheap, and damages can be expensive out of pocket.

What Is Boat Insurance Coverage?

Boat insurance coverage is insurance tailored for boats. A boat insurance policy typically includes coverage for physical damage and liability in case someone is injured. It may generally cover:

  • Physical Damage: This covers physical loss or damage and includes attached equipment and furnishings of the boat. It only covers certain incidents — which typically do not include insect damage, mold or normal wear and tear.
  • Theft: This can cover both the actual boat and the belongings on it.
  • Bodily Injury: This liability insurance provides monetary assistance if a boater causes someone else injury while operating the boat.
  • Guest Passenger Liability: This liability coverage steps in if a passenger on the boat is injured. Liability insurance is especially important on a boat, where slips and falls are common.
  • Towing: This helps keep boaters from being stranded on the water.

There are discounts available for boat insurance, as well. Boaters who don't hit the water during the winter, carry a Coast Guard approved fire extinguisher, have completed safety courses for boating and have ship-to-shore radios are eligible for boat insurance discounts.

If you're an agent selling boat insurance it's important to discuss coverage limits. Boats may be covered other under policies, such as home and auto, but that coverage may be limited.

How Much Boat Insurance Coverage Do My Customers Need?

Generally, insurance agencies suggest that customers purchase $1,000,000 or more in liability insurance.

How Much Does It Cost To Insure A Boat?

The cost of boat insurance varies depending on location, size or speed of the boat and more. On average, your customers may pay between $300-$500 a year.

What Is Covered Under Boat Insurance?

A boat insurance policy may include underinsured/uninsured motorist, theft, bodily injury, property damage, guest passenger liability and medical payments.

What Is The Best Boat Insurance To Get?

The best boat insurance depends on your customer's intentions. If they're just boating for fun, they'll need less insurance than someone who fishes for a living.

Is A Boat Covered Under Homeowners Insurance?

Yes, home insurance may cover a boat. However, homeowners insurance typically only covers $1000 for boat insurance, so it's important to consider additional coverage.


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