Townsend Agency (512) 931-2591 Georgetown
(806) 698-1611 Lubbock
(325) 573-4076 Snyder

Boat Insurance

What About Boat Insurance?

Good boat insurance is an important type of financial protection designed to protect you from financial losses that arise from the use of your water-going vessel and from damage resulting from nature and other non-man caused events. This kind of insurance protection is also often required for some types of boats as delineated by local laws; you would be well-served in researching the relevant insurance regulations in your area to learn what are the minimum levels of boat coverage that might be required. Keep in mind that if you carry a loan on your craft, the lending institution may also mandate that you obtain more comprehensive coverage. Regardless of the rules, it is important to consider purchasing a plan for the purposes of owning and operating a marine vessel, whether it be a large yacht or small sailboat, a speedboat or a fishing boat as a good boat insurance plan is vital for protecting both you and your investment. 

Kinds of Protection

There is a myriad of types of boat coverage one can purchase. For instance, liability is available to potentially compensate others for damages or losses for which you are at fault while using your boat. For instance, if you collide your vessel into another boat, liability coverage pays out for the other party’s costs and can also protect you should someone be injured on your boat. This kind of insurance is the type that will be mandated by local or state regulations. Collision or comprehensive coverage is also available for your boat and pays for expenses for your own losses on your own boat. Collision only covers accident-related loss while comprehensive takes care of losses due to fire, weather, theft, vandalism and more. Optional insurance coverage, such as for trailers or for personal belongings stored on the boat, may also be purchased.


When you are obtaining your boat insurance plan, keep in mind that you will be mandated to pay a deductible prior to being compensated for each claim put forth. Opting for a claim amount that is within your budget to pay is important and note that the higher the deductible, the lower your premiums will be. Obtain coverage limits that are within the realm of reality for the claims that you might think you could file. 

Big Benefits 

Filing a claim is a relatively easy process. Once the insurance provider validates your claim, it will pay out for any covered damages or losses, (after you pay the agreed-upon deductible). Review potential insurance coverage details so as to ensure that your investment will be fully protected.