For most people, buying a personal watercraft such as a boat may be one of the most costly expenses they will ever make after purchasing an automobile or a home. Yet, many of these people don’t consider insurance for their watercraft or boat to be anything until the need to file a claim becomes necessary. Though there is no rule, regulation or law that requires anyone to purchase insurance for their personal watercraft in Arlington, TX, it is, however, not a bad idea to consider purchasing an insurance policy to protect you and your investment.
Why consider boat insurance?
Despite being one of your most valuable assets, your boat can also be one of the most vulnerable assets. As a matter of fact, it can be involved in catastrophic accidents and can even be lost to a lawsuit, windstorm or fire. To this end, having the right coverage in Arlington TX would be helpful to repair the boat to use again or even replace it entirely.
Protect your own assets
Insurance is a legal promise signifying that you will be paid or compensated by your insurance company for the losses that may occur during the policy period. As a boat owner, you may need to buy insurance that will cover your boat for a while which could last up to a boating season or even for a year. To this end, it is important to understand what is and what isn’t covered before making any purchase.
State Insurance Solutions can help you understand and identify the right type of coverage you need for your boat. Remember, that you can’t store premiums with insurance since it is not a bank. So, endeavor to understand the legal contract you are getting involved with before you sign it.
For further inquiries, questions or advice, ensure to contact State Insurance Solutions.
Arlington, TX residents are often confused about umbrella insurance and whether they need it. That’s why we at State Insurance Solutions are providing this simple-to-understand guide to when you might want to add it to your policy.
The Nature Of Umbrella Insurance
Umbrella insurance is a type of liability coverage that extends what your company pays. For example, if you get in a car accident that causes a serious problem and your liability coverage cannot pay for it, umbrella insurance will help to pay for the extra cost.
When You Might Want It
There are several instances in which umbrella insurance is a great choice. While umbrella insurance isn’t a great choice for everyone, there are several types of people who might want it, including:
- People who travel abroad regularly
- Those who own a significant amount of property
- Anyone who owns dangerous items, such as trampolines, pools, or even large dogs
- Participants in sporting events, such as coaches
- Volunteers in a variety of situations
- Hunters, fishers, surfers, or skiers who participate in dangerous events
These people often benefit from umbrella insurance because it provides a more comprehensive rate that helps to avoid serious liability issues. For example, people who travel abroad may get sued if they end up causing a serious car accident in another country.
While your normal liability insurance won’t cover these lawsuit costs, umbrella insurance will help keep you from losing too much money. And sports coaches often need this kind of coverage because parents get angry at them when their children get injured and try to sue them.
Deciding On Umbrella Insurance
If you think that umbrella insurance is right for you and you live in Arlington, TX, give us a call at State Insurance Solutions. Our experts will make sure you get a policy that is right for you.