Texans enjoy the adventure of boats, but just like cars, boats come with risks. If you are a boat enthusiast in the Porter, TX area, JSI & Associates recommends buying watercraft/boat insurance to help you stay covered. Since boats can be used for both recreation and commercial activities, it is essential to understand the insurance part of it.
Can boat insurance cover my recreational and commercial activities?
The simple answer to that question is no–boat insurance cannot cover commercial and recreational activities in the same coverage. In most cases, your insurance provider will require you to purchase both commercial and boat insurance.
Why boat insurance cannot cover commercial activities
Commercial insurance is critical, especially if you are earning money through fishing or ferrying people. You will need to have a specific enterprise or income-generating activity that will be filed by your insurer. That means that you will need to be quite specific about what you want to do in order to receive the best coverage. An insurance professional at JSI & Associates can help you determine what policy is best for your needs.
You also need to understand that working and playing are two different things. Both choices have unique risks. For instance, recreational activities may involve having fun in the water, which poses even riskier situations to the participants. If you are ferrying people and earning from that, you may need to carry insurance as a form of protection for your boaters.
Why boat insurance is important
While boat insurance is not mandatory in most states, it is a critical coverage for the boating enthusiast. Insurance varies based on the size, value, and type of watercraft. These factors determine the amount of coverage you will need. Small boats, particularly those that do not use engines, can be covered under home insurance.
Feel free to visit JSI & Associates in Porter, TX for all your insurance needs!