Boat insurance is similar to auto insurance. It covers your watercraft and provides liability coverage if you damage someone else’s boat or property or injure someone else while operating your boat. However, boat insurance requirements often vary from state to state. Our team at JD Insurance Group is committed to helping boat owners in Beaumont, TX, understand boat insurance.
What is boat insurance?
Boat insurance is like any other insurance. It provides coverage for damage your boat may sustain in an accident as well as liability coverage for other people’s properties and injuries you may cause. Your boat insurance pays for the repairs to your boat or its replacement if the circumstances of the damage are covered events. Boaters may be required to carry boat insurance, even if it’s not required in a particular state. Only Utah and Arkansas require boat owners to carry insurance. However, boat insurance may be required if you have a boat loan or want to use certain marinas.
What kind of boat insurance is required by Texas state law?
Boat owners aren’t required to carry boat insurance in Texas. However, if you have a loan, your lender will require you to carry boat insurance. You may also need boat insurance for your watercraft to use certain recreational venues as well. Even though Texas law doesn’t require boat owners to carry insurance, boat insurance has obvious benefits. You benefit from liability coverage, which will pay for repairing or replacing your boat if it’s damaged. If you have questions about boat insurance and its benefits, call us. We’d be happy to help you explore your options.