Boat/Watercraft Insurance
Regarding boating, every state has its own set of rules and regulations. And regarding boat insurance, each state has its own minimum coverage requirements. So if you're planning on hitting the open waters in your vessel, it's essential to be aware of the insurance requirements in your home state.
Is Boat Insurance Required by Law in Texas?
The short answer is no. Boat insurance is not required by law in Texas. However, that doesn't mean that you shouldn't have it. We recommend all boat owners have some form of coverage, even if it's just the minimum liability limits. Why? Because accidents happen, and boats are expensive to repair or replace.
Types of Coverage to Consider for Your Texas Boat Insurance Policy
Even though Texas doesn't have any laws mandating boat insurance, there are still a few types of coverage that you should strongly consider. Here are a few:
- Liability- Liability insurance is important for any vehicle, and boats are no different. If you're found responsible for an accident, this coverage will help pay for any resulting damage or injuries.
- Replacement cost- If your boat is totaled in an accident or becomes irreparably damaged, replacement cost coverage will help you cover the cost of a new boat.
- Medical payments- If someone is injured while on your boat, medical payments coverage can help with their medical bills, regardless of who is at fault for the accident. This coverage is especially important if you don't have health insurance.
- Uninsured/underinsured Boater- Like auto insurance, this type of coverage protects you if you're involved in an accident with a driver who doesn't have insurance or doesn't have enough insurance to cover the damages.
Shop Your Policy: A Guide to Boating Insurance
When it comes to boating, every state has different insurance requirements. Some states require all boat owners to have insurance, while others don't. If you live in a state requiring boat insurance, ensure you understand the minimum coverage requirements. If you're in Texas, contact us today for a quote on your boat insurance policy.
