In North Texas, one of the most relaxing activities in the summer is to spend a day boating on one of our nearby lakes. It’s all about the warm sun, cool breeze, and the peace that comes with taking a break. If you’re a boat owner, you know the feeling of accomplishment that goes along with providing that experience for yourself, your family, and your friends. You cherish your boat, and that’s what makes your investment worth every penny. It’s also what makes it worth insuring. Even in the off-season, when your boat is stored, there’s a lot that could happen to it, and a boat insurance policy is the best way to protect your investment year-round.
What does boat insurance cover?
There are a few different types of coverage, and each offers protection in various situations.
Medical Payments Coverage
This type of coverage helps with medical expenses if you or someone else gets hurt when on the water. If there is an accident, regardless of fault, the last thing you want to worry about is the cost of the needed medical attention. You went out on the boat, expecting to have a great time, but accidents happen, and the most important thing is to make any injuries receive treatment is critical.
Physical Damage Coverage
This coverage takes care of your boat, motor, and trailer. Common property damage risks include sinking, fire, storms, theft, and collision. For instance, if you get into an accident with another watercraft or if something happens to your boat either while on the water or stored, this coverage will cover the costs.
Liability Coverage
If you are in an accident, there’s a good chance it involved another person or another boat. And if you’re at fault, you’ll need liability coverage. You can choose a lot of liability coverage or a little – it’s up to you. Keep in mind that you are liable for damage caused by direct contact or situations caused by your boat, such as large wakes.
How much does boat insurance cost?
Boat insurance, like all insurance, depends on several factors, including:
- How much coverage you choose in your policy
- The size of your boat
- The type of your boat
- Where you will be using your boat
- Where you will be storing your boat
- How you will be using your boat (occasional fishing trips may call for less coverage than towing wakeboarders or skiers, for instance)
At Arthur Blake Insurance, we make sure that you enjoy your time on the water without having to worry about what could do wrong. Our agency specializes in writing insurance policies for boaters, so you can be confident we will provide you with the best protection available. If you would like to learn more, contact us today at 972-954-6383.