When someone plans to buy a powerboat for the first time, this person must learn about acquiring insurance for the watercraft. Some men and women are under the misconception that home insurance will automatically cover the vessel. Others might wonder if their automotive insurance can include it in an endorsement, as some insurers do with motorcycles. In reality, the person needs to contact a Boat Insurance Company in The Woodlands TX and set up a policy separate from the other coverage.
Homeowners and Boat Insurance
Homeowners insurance may cover the boat when it is parked on the property, although the policyholder will have to have the coverage added to the policy. A Boat Insurance Company in The Woodlands TX provides coverage for when the vessel is in the water. The owner will want liability coverage in case he or she ever cause an accident. Collision coverage pays for damage to the watercraft in this type of incident. The boat owner will also want coverage for protection against uninsured and underinsured boat owners who may cause a collision in the water.
Insurance for Boats in Storage
Some boat owners store their watercraft at a storage facility. They can ask their insurance agent whether the boat policy covers the vessel at this location. Most policies do. Comprehensive insurance pays for any damage that might occur there, such as from vandalism or hail.
Coverage on the Road
What if an accident occurs when the boat is being hauled by a trailer on the road? This depends on the circumstances. If the owner causes the incident, the boat’s collision coverage will pay for the damage above and beyond the deductible. If the boat causes damage to someone else’s vehicle or someone is injured due to the incident, the owner’s automotive policy should be responsible.
Clearing Up the Confusion
These issues can seem a bit complicated and confusing. Talking with an independent agent at a company like Insurance Offices Texas can clarify all of these points. The person also can find out about boat insurance covering the trailer, outboard and inboard motors, expensive fishing equipment, and other gear. Click here to get started.
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