If you are like many Texans you enjoy recreational outdoor activities like rivers, camping and boats; especially when you live close to a lake! Whether you choose a local bank or cash when purchasing your first watercraft it will need to be insured. When financing a boat, the lender will want to confirm you have insurance to protect against physical damage for the boat hull and trailer. Additionally, the state of Texas requires you follow boating operational procedures and maintain the required liability insurance limits.
Can I insure my boat on my homeowner’s policy?
One may be able to insure some types of watercraft for physical damage on your homeowner’s insurance policy. However, coverage is minimal with multiple exclusions to type of watercraft, boat, size and value. It is important to read your home insurance policy carefully and understand if any coverage is afforded for your watercraft. Ultimately, we suggest a separate watercraft or boat insurance policy to be insured adequately and meet the state liability insurance requirements.
Your personal independent insurance agent has relationships with many different insurance companies and can help you compare quotes, benefits and insurance policies with the coverages you feel are most important. Contact us to start your boat quote!