In Texas, many enjoy boating on area lakes with friends and family. Any boat is an investment that needs to be protected. You also have to consider that everyone enjoying the time on the boat also needs protection from a variety of situations. While you may understand home and auto policies, boat insurance policies are a little bit different. The team at RW Insurance Service Inc. can help you get the policy you need to protect your loved ones and your boat. We’ll take the time to explain all of your options so that you are financially protected.
Many think that their home insurance policy can cover their boats. With smaller watercrafts, this may be an option, but for most, it is not. Talking with your agent before you head out onto the water can give you peace of mind and the protection you need. This is particularly true of large boats or yachts that are destined for international waters.
Boat policies provide liability coverage and protection for any physical damage. If someone is injured on the boat, the liability policy kicks in. If the boat sustains physical damage or the mechanical equipment is harmed, an insurance policy can take care of it. Even issues such as vandalism can be covered. For those who only use their boats for part of the year, our agents will recommend that you maintain your insurance coverage for the whole year.
They will also give you several options, such as coverage for accidents involving uninsured boaters and policies that cover all the personal possessions on the boat. Finally, boat insurance policies give the option for ‘agreed value’ or ‘actual cash value.’ Policies defined by ‘agreed value’ stipulate the amount it will payout. ‘Actual cash value’ is based on the boat’s initial value with depreciation factored in.
In Texas, our agents at RW Insurance Services Inc. are ready to help you with the boat insurance you need. Come by for a visit. We’ll answer any questions that you have and get you the protection you need.
