A Few Boat Insurance Tips In The Woodlands TX Every Watercraft Owner Should Know

A boat is a great way to get out and explore new sights and take advantage of beautiful waterways that are not visible through other forms of transportation. While a boat is an excellent investment, it is essential to keep it protected by having it insured in case of damage or loss. The following are a few tips that will ensure a boat owner has the coverage they need to keep their watercraft safe and prevent them from losing a substantial amount of money.

Geographic Restrictions

Often an insurance company will limit the protections afforded to a boat owner based upon geographic location, with most typically only covering the boat if it is within 75 miles of a coastline or 200 miles of its stored address. If a boat will be used in a broader geographic area, then it is essential to talk to an agent about extending the coverage. Most policy coverage areas may be enlarged at a minimal expense.

Deductible Amounts

Another great Boat Insurance Tip in The Woodlands TX revolves around understanding the deductible amount that is on policy. The deductible is the amount of money the owner must pay out of pocket when filing a claim, and while a lower deductible means higher premiums, it helps prevent financial difficulty when tragedy strikes. Talk to an agent and determine what option will provide peace of mind while being budget friendly.

Agreed Value Coverage

One other Boat Insurance Tip in The Woodlands TX is be sure to ask about an agreed value coverage provision. Typically, when a boat is considered to be a complete loss, the reimbursement amount is based on the depreciated value of the watercraft. A policy that has an agreed value coverage rider will give the owner of the boat the full amount of money they paid for the item, and allow them to have more purchasing power when replacing it.

Boat insurance not only provides peace of mind but it is a requirement for operating them in public waterways. The team at Insurance Offices Texas is a leading provider of quality boat insurance products from a variety of vendors. Visit iotx.com to learn more and see how they help keep thousands of people safe on the water.

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