Boat & Watercraft Insurance: What’s Covered?

by Administrator 20. February 2017 06:39

Boat insurance is imperative to provide coverage in case of a loss or damage to your boat. Although it covers most types of watercrafts, canoes and kayaks are generally not included in the insurance policy. It is essential to get an adequate amount of boat and watercraft insurance so that you get paid for any kind of loss.

The cost of boat insurance that you need to incur depends on several factors such as: the state you reside in, the type and size of your boat, size of motor and whether you have opted for additional coverage or not. You can save a lot of money on boat insurance by becoming eligible for certain type of discounts given by insurance companies. For instance, you can get discount on boat insurance premiums if you don’t use the boat throughout the year or boat only in fresh water instead of salt water, etc.

A standard boat insurance policy provides the following types of coverage options:

  • Property damage liability: Under this type of coverage, you will be provided protection for damage caused by you to someone else’s boat, passengers or property. The insurance company will also pay for legal expenses in case you are sued by the other party.
  • Collision damage: You will be paid for all the expenses if your boat gets damaged or is stolen. However, wreckage removal may not be included in this category and you will have to opt for additional coverage in case you require it.
  • Comprehensive coverage: The insurance company will pay in case your boat gets stolen, damaged or sabotaged. Some insurance companies also provide for free pet injury coverage (certain pets) under comprehensive and collision coverage.
  • Uninsured/underinsured boater (UB/UIB): If another boater who does not possess boat insurance damages your boat and injures you, he may or may not pay for the harm caused. In case the other boater does not possess valid insurance, you may have to pay for the damages. UB/UIB will provide you coverage for the injuries occurred, medical bills and even pay for the wages lost in case you are unable to go to your workplace due to the accident.
  • Bodily injury liability: You will be paid for the expenses by the insurance company if you cause injury to someone else while using your boat. The insurance company will pay for the medical bills, lost wages and even the legal expenses.
  • Additional coverage options: For more protection, you will require additional coverage so that you and your watercraft are fully protected. Extra coverage options include:
  1. Total loss replacement
  2. Coverage for fishing equipment or personal items on the boat
  3. Water towing
  4. Mechanical breakdown coverage

For affordable and comprehensive boat insurance in Killeen, TX, consult Shawn Camp Insurance Agency, Inc.  We can help you to compare various boat insurance plans and choose the most suitable one according to your requirements. For details, feel free to call us at (254) 526 - 0535.

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Tips To Lower Your Boat Insurance Rates In Killeen

by Administrator 8. April 2016 12:23

If you are looking to invest in a boat, make sure you have it insured. While it is not mandatory, having an insurance policy will save you a lot of money and hassle in the event of a mishap. Insurance is also necessary if you are looking to finance the boat purchase.

Following are ways you can make your boat insurance affordable:

  • Boat selection: Just like other motor vehicles, luxury boats will cost more to insure. The insurer will look at the maximum speed of the boat and length to horsepower ratio to arrive at this cost. A high speed boat is prone to accidents hence it will need to be insured at a higher price. Also, if you have bought an old model or a second hand boat, your premium may go up. Keep these factors in mind while purchasing a boat.
  • Cut the accessories: If you have lots of accessories along with the boat, your monthly premium will be higher as they will have to be replaced in case of any damage.  A mid priced boat with the basic amenities can help you bring down the insurance rate.
  • Join a safety course: Many insurance companies extend special discounts to people who have done a professional course in boating safety. This assures them that you will drive the boat safely hence lowering the chances of accidents.
  • Safety gear: If you have GPS or other safety gear installed on the boat, you may be eligible for further discounts. Investing in these devices will not only increase your safety but also lower the insurance premium.
  • Good track record: If you have a clean driving record, you may be able to get a better deal for boat insurance. Your monthly premium will go up if your license indicates that you are reckless driver.
  • Compare quotes: It is best to first compare all rates, discounts and offers that multiple agents are offering. Ask them to simplify the terms and coverage options offered by different policies so you can choose the one that perfectly fits the bill.

You may also bundle your other policies like home or auto insurance with your boat insurance. Check with the existing insurance agency if they offer you a special rate and discount for doing so.

We, at Shawn Camp Insurance Agency, Inc., offer a wide range of boat insurance policies in Killeen, TX. For details about the coverage options, call at (254) 526 – 0535.

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Ways To Save Money On Boat Insurance In Killeen, TX

by Administrator 13. January 2016 06:48

If you own a boat and are fond of hitting the ocean for fishing or just a splash, make this experience a pleasurable one by investing in a good insurance policy that protects you as well as your boat. No matter what the size of your boat is, protection against financial and accidental damages must be your priority. There are many agents in Killeen, Texas who provide watercraft insurance but before you make the purchase, take care of the following points:

  • Don’t be over insured: Read the policy document carefully and understand what all is covered. Your boat and its usage may not require some of the coverages and you can omit them to bring your monthly payouts down.
  • Multi policy benefits: If you already have an auto or homeowner’s insurance, check with the insurer if you could include boat insurance in it so you can avail a good discount. Usually when people bundle their insurance policies, the deal struck is beneficial.
  • Have a good driving record: If you are a good driver, you are less likely to file for claims, hence you may get good discounts and less monthly premiums. Have a good record and be cautious of violating boating rules.
  • Take proper training: If you are a trained boat driver, you may get better insurance deals as then the company may be assured that you will cause less damages. It is therefore wise to have a boat safety education proof so discounts come your way.
  • Type of use: If your boat will be used only for inland operations, you are more likely to get better discounts. The insurer may also ask in which oceans/areas you intend to sail your boat for use before determining the liability.
  • Buy some safety gear for boat: If the insurer sees that you already have a safety gear in place, you are likely to get more discounts. This gear is anyway useful for a safe boat ride and thus if you intend to buy it at a later date, do it before buying an insurance to avail better rates.
  • Compare policies: Killeen area is dotted with many service providers thus shopping around is a good way to save costs. Compare quotes of at least two or three on the basis of discounts, coverage etc. and then zero down on the best insurance agency.

We, at Shawn Camp Insurance Agency, Inc., offer a wide range of boat insurance policies to the clients in Killeen, TX. For more information, you can call us at (254) 526 – 0535.

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What Boat Insurance Policies Cover?

by Administrator 5. November 2015 09:15

Boat insurance is an essential investment in order to protect yourself against costly repairs or financial liabilities arising out of unforeseen circumstances. Whether you own a personal watercraft, jet boat, sailboat, fishing boat, cabin cruiser, bass boat or house boat, you must purchase adequate insurance. However, with so many coverage options available, it can be quite difficult to make the decision.

Here are some of the common coverage options included in a boat insurance policy:

  • Physical Damage Coverage: This includes damage caused to the boat, its engine, motor or other attached structures due to accidents or natural disasters.
  • Bodily Injury Liability: In this, your insurance policy will pay for your as well as your fellow passengers’ medical bills in the event of an accident, regardless of who is at fault.
  • Personal Liability: It provides coverage to another boat owner in case you are responsible for an accident on the water. Your policy will pay for the boat repair costs, medical care, lost wages and other financial losses incurred by the other party.
  • Uninsured/Underinsured Bodily Injury: If you are involved in an accident due to the fault of an uninsured or underinsured boater, this coverage will pay for medical treatment, lost wages and other expenses incurred due to the accident.
  • On-Water Towing: This is an additional coverage option that provides towing service in the event your boat breaks down in the middle of the sea due to a mechanical failure, insufficient fuel or an accident.
  • Personal Effects Replacement: It provides coverage to your personal belongings stored on the boat such as clothes, electronic gadgets, water sports gear, boat hoists, lifts etc.
  • Total Loss Replacement: This coverage comes into effect if your boat is completely damaged in an accident. The company will pay the cost to replace your boat, according to the current market value of the same make and model.
  • Fuel Spill Liability and Wreckage Removal: It provides for the cost of cleaning up fuel and removing debris from the boat following an accident.

We, at Shawn Camp Insurance Agency, Inc., offer affordable boat insurance in Killeen, TX. Our agents will help you choose the most suitable insurance policy with extensive coverage and affordable premiums. For more information, you can call us at (254) 526 – 0535 or visit our office at 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542.

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Ways To Cut Boat Insurance Costs

by Administrator 21. September 2015 12:02

Recreational boating is an interesting activity for many people. However, it is also important to have a sound insurance plan for your boat. Whether you have a small boat or a luxurious yacht, getting an adequate coverage will help you stay protected against unexpected damages and financial liabilities. There are certain ways by which you can cut down on your boat insurance costs. Some of these have been discussed below:

  • Avoid over-insuring: You should not pay for any such coverage that you do not require. Make sure you carefully analyze the type, features and usage of your boat to determine the coverage options that you actually need.
  • Boater Education: It can be beneficial if you enroll yourself for boater education classes. It may help you to become eligible for certain discounts and offers on your insurance policy. So, boating safety education can be an asset in this case.
  • Driving Record: A good driving record can also help you save money in boat insurance. With a clean track record, you are more likely to drive safely and file a claim for accidental damages to your boat. This can help to reduce your insurance premiums. 
  • Type of Water: The type of water in which you will be using your boat also determines the cost of your insurance policy.  You may have to shell out less money for insurance if you sail your boat in fresh water. On the other hand, boat insurance costs will be higher for salt water usage.
  • Inland Operations: Even inland operations require you to pay lower premiums. Therefore, you must give all the details to the insurance agency before finalizing the boat insurance policy.
  • Storage Facility: A good storage facility for your boat can fetch you an insurance discount. So, you must try to store your boat in a safe and secure place to lower the risks of a theft.
  • Combined Insurance: The insurance agency may also provide the facility of combining the boat insurance along with the homeowners and auto insurance policies. This helps in reducing the total amount of premiums that you need to pay. You must ask for any such provisions before signing the final document.

We, at Shawn Camp Insurance Agency, Inc., offer comprehensive boat insurance in Killeen, TX. For more information, you can call us at (254) 526 – 0535 or visit our office at 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542.

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