San Antonio, TX, is a delight for boat owners. Following the San Antonio River, this city offers many opportunities for watercraft enthusiasts to enjoy themselves. But before you hitch up your boat, make sure that you have the right boat insurance for your needs by speaking to the friendly insurance agents at Ellis Insurance Agency serving San Antonio TX.
Breaking Down the Basics
To some extent, your homeowner’s policy will provide financial cover for your boat, but this is only for physical damage or loss, subject to the way the policy is structured. Comprehensive boat insurance should provide financial cover in two ways.
Physical Damage or Loss
Does your policy afford you financial protection against the possibility of accidental loss, damage, or theft of your boat? You will structure this area of your boat insurance policy in one of three ways.
Replacement Cost
Pay to repair or replace your boat.
Actual Cash Value
This type of insurance also pays to replace or repair your boat against accidental damage or loss but at a depreciated value.
Agreed Amount Value
You insure your boat for a set maximum value.
The type of policy you select depends on your financial obligations and your needs and should be reviewed at the time of renewal annually.
Liability
Liability is always a big one. Boats are fun, and good fun is often shared with friends and family. A boat insurance policy with liability cover provides financial assistance, depending on your policy wording, with injuries, disability, and death if you are legally responsible.
Don’t let this one sail by you; contact the Ellis Insurance Agency serving San Antonio, TX, today! And make sure you are covered adequately with insurance for your boating assets.
