A First-time Buyer’s Guide to Boat Insurance

Owning a boat is more than a luxury item as it is a way of life. Still, your investment needs protection. 

Boat insurance is more detailed than other types of insurance. The policies vary in coverage as the agreement’s content can be puzzling. Ellis Insurance Agency in San Antonio, TX offers their knowledge and expertise to create a policy that gives a first-time buyer peace of mind.

What is Boat Insurance?

A standard boat insurance policy will protect your watercraft from damage caused by a sea accident, destroyed by fire, or struck by lightning. The coverage protects your wealth. Without boat insurance, you would be legally responsible for paying for all damages and injuries suffered in the accident. It would be quite an expensive endeavor that could bankrupt you. But boat insurance will cover all repairs, medical care, and legal fees for a potential lawsuit.

Liability Coverage is a Must-Have

Your boat insurance policy should have liability coverage that exceeds the amount required by state regulation. Usually, it comes in the form of property damage and bodily injury liability coverage. Each protects policyholders by paying for all damage to another person’s boat or property in an on-water accident because you were at fault. Also, liability coverage will pay all medical bills, lost wages, and other related expenses.

Other Boat Insurance Coverage Options

Attaching additional coverage to your existing boat insurance policy is optional. But, it is wise to research and choose coverage options that further protect your watercraft. Collision coverage is a valuable addition if your boat is involved in an on-water accident. The addition covers the repairs and possible replacement of your boat. Salvage coverage assists when your boat is deemed unworkable and beyond repair. Most salvage companies request to be paid upfront before towing your boat away. The coverage pays for all expenses.

If you are unsure if boat insurance is needed to protect your watercraft, speak with Ellis Insurance Agency in San Antonio, TX. Our staff can assist in creating a policy that meets your boat insurance needs. Call and schedule an appointment today. 

The Positives of Boat Insurance

There are positives to getting boat insurance in San Antonio, TX and other locations throughout Texas. Few states in the US require boat owners to have boat insurance, but Texas is not one of those states. The option, however, is available to boat owners as it has many beneficial factors. 

The primary benefits cover the repairs or replacement if something happens to the boat. It all depends on what is underwritten within the policy.

The Various Benefits

Any damages covered in the policy of boat insurance can call the boat a total loss if the damages exceed the boat’s value. The entire book value of the boat may be compensated when filing a claim minus the deductible. That payment can go towards getting a new boat.

Other benefits can pay for repairs on the boat if something breaks or is damaged. The insurance company considers the book value, and the balance after the deductible goes to the repair payment. The third benefit that the underwriters may have in a clause is to pay the total agreed-upon capped value at the time of the insurance purchase. Likewise, this may cover either the repair or replacement of the boat. 

Let Ellis Insurance Agency Assist You

The positives come with knowing that the boat is covered if damage or an accident happens. Owning a boat is a favored luxury for boating and fishing. When something happens, and it stops you from these hobbies, you want to know that you can get back out on the water as soon as possible. 

Here at Ellis Insurance Agency, we create an environment filled with knowledge to assist you in getting the proper coverage in San Antonio, TX and surrounding areas. Once we know the book value of the boat, we can take it from there. Contact us today!  

Why does someone need to have a boat insurance plan in Texas?

If you are in the San Antonio, TX area, owning a boat can be a great option. When you are a boat owner here, you will be able to have a lot of fun during the warmest months of the year. While boats can be a lot of fun, you do need to make sure that you are properly insured with a boat insurance plan. 

Why Boat Insurance?

Cover Your Watercraft

An important reason to have a boat insurance plan is so they can cover their watercraft. Any type of boat is going to take a big purchase and investment to acquire and care for. When you do own a boat, you will want to know that it is as well covered as possible. With a boat insurance plan, you will have coverage that can mitigate the risks of various types of loss including theft or accident damage. 

Reduce Liability Risks

While a boat can be a lot of fun to operate, it can also come with risks. If you have a boat insurance plan, you can offset some of these concerns. When driving a boat, if you were to cause an accident, you would need to cover the damages incurred by the other parties. Your liability insurance in the boat coverage plan will provide the support you need to offset this risk.

Get Coverage Today

If you want to invest in a boat in the San Antonio, TX area, you also need to make sure that you have the right insurance for it. When you are looking for a new boat insurance plan, you can start your search by calling the team with the Ellis Insurance Agency. There are a lot of choices to make when shopping for coverage and the Ellis Insurance Agency can help you build your next policy. 

Boat Insurance Basics

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 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.