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JSI & Associates

23830 FM 1314 Ste B
Porter, TX 77365

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Do I Need Boat Insurance throughout the year?

If you are a boat owner in Porter, TX, you may be asking whether you need boat insurance all year round. While you may get the urge to cancel your boat insurance when not using it, JSI & Associates advises against this move. Here are the reasons you need to carry your boat insurance throughout the year. 

It may be required

While watercraft insurance isn’t mandatory as per Texas law, you may be required to maintain one throughout if your boat is financed through a loan. Lenders require boat insurance to safeguard their financial interest since many boat owners don’t have the cash to compensate the lenders when something happens to the boat. However, whether boat insurance is required or not, it’s a wise choice to consider this investment.

Risks exist outside the water.

Yes, you are not likely to have boating accidents since you aren’t using your boat, but your boat isn’t 100 percent safe even when parked. Unforeseen risks like vandalism, theft, fire, falling objects, and other perils are still large even when you are not in the water. 

Mother Nature doesn’t have an off-season.

While you may not be using your boat, risks like hail, windstorms, lightning, and other natural calamities can still strike even when your boat is in storage. Since your boat costs thousands of dollars, it’s a good idea to incur a little more on boat insurance to safeguard your costly investment.

It saves you money

If you cancel your boat insurance during winter, only to renew in summer, this trend can be expensive in the long run. Here is the reason. Most insurance companies reward their customers who maintain their insurance all through by reducing their deductibles each claim-free year. Additionally, you are likely to get loyalty discounts if you keep your boat insurance all year round.

Boat insurance in Texas

If you had canceled your boat insurance, it’s time to start it up again. Whether renewing or shopping for new boat insurance, please contact JSI & Associates for a competitive quote.