Guide To Buying Boat Insurance In Killeen, TX

by Administrator 13. September 2016 12:01

Buying boat insurance is completely different from getting a homeowners or an auto insurance policy. Before finalizing a specific boat insurance policy in Killeen, TX, you need to conduct proper research and compare the rates being offered by various insurance agencies.

You can research about the insurance carriers online and check their ratings. Also, make sure you get the requisite coverage as this can save you from financial hassles if anything damages or destroys your boat later on.

Below is a guide to buying boat insurance in Killeen:

  • Limitation in homeowners’ policy: Homeowners insurance typically does not provide requisite coverage for marine-specific risks. However, there are many policies that have a provision of ample coverage for small boats. It is best to consult your insurance agency about how you will be paid in case of any damage to your boat.
  • Insurance factors to be considered: Before opting for a boat insurance policy, you need to consider certain factors such as your boat type, length, actual value, area of operation and the number of owners. These factors will help you narrow down your options and choose a policy that suitably accommodates your requirements.
  • Types of coverage: Some common types of coverage included in a boat insurance policy are:
  1. Specialized coverage: In this coverage option, the insurance company will pay for any damage caused to specific equipment or an expensive item on the boat.
  2. Consequential damage: The insurance company provides compensation for damage due to wear and tear.
  3. Cruising extension: This is a temporary coverage under which you will be provided additional coverage if you want to leave the country.
  • The claims process: You need to clarify about the claims process from the insurance company before finalizing the policy. It is best to keep the proof of insurance on your boat in case you need to make a claim immediately. Some insurance companies also provide assistance for towing and salvaging the boat after an accident. However, you need to know these factors in advance rather than asking at the time of filing the claim.
  • Hurricane plan: If you sail your boat in a hurricane zone, your insurance provider may ask you to get a hurricane insurance plan. The safety of the area where you park your boat can also affect your insurance rates. However, you will need to comply with the state rules and get the insurance plan accordingly.

For comprehensive boat insurance in Killeen, TX, contact Shawn Camp Insurance Agency, Inc. For details about the coverage options, you can call us at (254) 526 – 0535 or visit 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542.