Every boater should carry adequate insurance on his or her watercraft. This will ensure that the boat, its equipment, and everyone on board is protected, often for less than a dollar a day. Read on to find out what to consider when choosing a Boat Insurance Plan in The Woodlands TX for help with getting started.
Navigational Area
Different plans offer coverage for different areas. In Texas, most insurance companies offer coverage for up to 75 miles from the U.S. coastline. Some policies also cover inland and coastal waters in Canada and Mexico.
Actual Value Coverage
Cash value policies make it difficult to replace severely damaged or stolen boats since watercraft depreciate over time, just like cars do. It’s better to take out a plan that offers actual value coverage. Should anything happen to policyholders’ boats covered by this type of plan, the money they will receive to cover damages or replacements will be determined by how much insurance they took out instead of the depreciated value of the boat.
Liability Coverage
Every good Boat Insurance Plan in The Woodlands TX offers liability coverage. This covers damage to other boats and their owners if policyholders are deemed responsible for the accident. It will pay for everything from medical care and lost wages to property replacement.
Uninsured Watercraft Coverage
Not all boaters have insurance. That’s why it’s always a good idea to take out uninsured watercraft coverage that will pay for damage, medical care, and lost wages if policyholders get into accidents with uninsured or under-insured boaters.
Wreckage Removal
When boats sink or receive serious damage that causes oil or fuel leaks, their owners are required to pay for the cleanup. This can be expensive. Wreckage removal coverage pays for fuel and oil cleanup and removal of severely damaged craft from the water.
The Bottom Line
Not all boat insurance policies are created equal, so boaters should pay attention when discussing coverage options. Those who want comprehensive coverage can trust Insurance Offices Texas to provide them with the policies required to make sure that boaters, equipment, belongings, and passengers are all covered while on the water. Visit the website to learn more about this company today.
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