Dallas, TX offers a variety of options for boating, with rivers, lakes, and streams riddling Texas, and the nearby Gulf of Mexico offering you offshore boating options as well. While Texas does not require boat insurance, several companies offer policies that protect your boat in the event of an accident, collision, theft, or another issue.
Basic liability insurance, similar to the liability insurance you are legally required for your car, protects you against lawsuits that may come your way due to an accident or property damage. This way, the insurance company handles all of the financial liability. If you have a high end boat that’s worth a significant amount of money, you may want to put a policy in place that protects it from other damage. Comprehensive insurance covers issues such as theft, damage on the property while it’s stored, and similar damage that is caused by other reasons that don’t deal with collision. Collision coverage protects you from having to pay out of pocket when your boat becomes damaged by collision with other vehicles and boats.
You may also have some coverage through your auto insurance when your boat is getting towed on a trailer. If you get in a wreck when you’re driving to or from the water front, your boat gets covered under your auto insurance policy. The same goes true for when you store your boat on your property. Your homeowners insurance policy covers your boat when you’re storing it on your property, whether you have it outside on your property or in the garage. You need to talk to your insurance company to determine whether they properly cover your boat in these situations.