You have several options for boat insurance in Corpus Christi, TX. Although the state doesn’t require coverage, it’s still a good idea to protect yourself from liability. Here is a list of the most common types of boat insurance coverage:
Replacement Cost Coverage
When you choose a replacement cost policy, it pays to replace your boat if it’s damaged or lost. Given the expense of a new boat, this coverage is worth the extra premium. It only pays to return the watercraft to its original state. It will not factor in any upgrades or customizations.
Agreed Amount Coverage
This pays a set amount, regardless of the cost of replacement. If you have an expensive boat, this could be a better option than replacement cost. However, if your watercraft is totaled, you may not receive enough money to replace it. Your Revolutionary Insurance Group agent can help you find the right coverage for all your vehicles.
Actual Cash Value Coverage
This policy type pays the current value of your boat minus depreciation. So, if your yacht is five years old and has a $10,000 value, the insurer would pay out $7,500. This policy is usually cheaper than the other two, but it may not be as beneficial if your boat is no longer usable after the collision.
Your policy might also cover other damages, such as the trailer you used to transport your boat. Discuss your specific needs with your insurance agent to ensure you have the right coverage in place.
Corpus Christi is a great place to own a boat. With its many waterways and beaches, there’s always something to do. But before you head out on the water, be sure you have the right boat insurance.
Contact Revolutionary Insurance Group in Corpus Christi, TX today to review your policy options. We can help you find the right coverage for your needs.