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What Does Boat Insurance Cover?

At Great Southern Agency, we recognize that your boat is an investment you’ve made to have fun with your life to the fullest. That’s why we’re determined to help boaters in Tomball, TX protect this crucial investment. 

What is Boat Insurance?

A boat insurance policy is meant to cover you and your boat against liability and damage if an accident occurs. Boat accidents happen all the time, but with boat insurance, you can count yourself lucky. This insurance policy will cover you on and off the water. 

Can My Boat Be Covered Under Auto Insurance?

The fact is— if you don’t have a separate policy to cover your boat, you’re probably underinsured. Auto insurance is not designed to cover boats and personal watercraft. Don’t wait until an accident happens to realize that your boat is not insured. 

What Coverages Do You Get with Boat Insurance?

Boat Insurance Property Coverage

This coverage protects your boat from a multitude of risks. For example, if your boat is damaged accidentally, this policy will cover the repairs costs. Also, in the event your boat is stolen, this policy will cover the cost of replacement. 

You can choose from two coverage types under boat insurance property coverage: agreed amount coverage and actual cash value coverage. The former pays for repairs based on the boat’s value, while the latter considers the boat’s depreciation value at the time of repair. 

Liability Coverage

When you’re at fault for an accident, you’re legally liable for the losses incurred by the other party. Here’s when liability coverage saves the day. It pays for all expenses incurred by the other party.

Uninsured coverage

This coverage protects you in the event an uninsured boater is at fault for an accident that resulted in damage to your boat or bodily injuries to your passengers. Uninsured coverage will pay for the costs. 

Protect Your Boat with Boat Insurance

As a boater in Tomball, TX, it’s clear that boat insurance is an investment you can’t afford to ignore willingly. It would be best if you had it to protect yourself from out-of-pocket expenses that arise after a boat accident. 

At Great Southern Agency, we’ll be happy to listen to you and help you get the coverage that best suits your needs. Contact us today for more information.