We cover everything you own and everyone you're responsible for, without locking you into one company's options.
Boat Insurance for East Texas Waters
Whether you're pulling a bass boat out of Lake Fork, cruising Lake Tawakoni on a pontoon, or trailering to Toledo Bend for the weekend, your boat deserves coverage that actually fits how you use it. We've helped East Texas boaters find the right policies for over 50 years — and when you call us, a real person picks up.
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Hay barns, equipment sheds, cattle pens, grain storage, and other agricultural structures aren't covered under a standard homeowners policy. A farm and ranch policy covers them specifically — at replacement cost or actual cash value depending on what you carry.
Barns, Outbuildings, and Farm Structures
What Boat Insurance Covers
Boat insurance isn't just about the hull. A solid policy covers the full picture of what can go wrong on the water — and off it.
- Physical damage: Repairs or replacement if your boat is damaged in a collision, storm, or accident
- Liability coverage: Pays for injuries or property damage you cause to others on the water
- Uninsured watercraft: Protects you if you're hit by a boater who carries no coverage
- Medical payments: Covers medical costs for you and your passengers after an on-water accident
- Theft and vandalism: Protection when your boat or equipment is stolen or damaged while stored
- Trailer coverage: Many policies extend to the trailer used to haul your boat
- Towing and assistance: On-water towing if you break down far from the dock
Every boater's situation is different. We'll walk through your options and make sure you're not paying for coverage you don't need — or missing coverage you do.
Texas Boaters Face Real Risks — On the Water and Off
East Texas is lake country. That's a good thing. But it also means your boat is in the water, on a trailer, or sitting in storage more days of the year than most people account for. Damage doesn't only happen when you're out fishing. Hail can hit a stored boat. A trailer hitch can fail on the highway. A dock fire can spread. Boat insurance covers your watercraft year-round, not just when the engine's running.
Texas law doesn't require boat insurance the way it requires auto insurance, but many marinas and storage facilities do — and any boater with a loan on their vessel almost certainly has a lender requirement to carry it. Even if you're not required to carry coverage, the cost of replacing a boat, motor, and trailer out of pocket is a risk that's rarely worth taking.
Types of Boats We Can Insure
We work with carriers that cover a wide range of watercraft. If you're not sure whether your vessel qualifies, just ask — we'll find out.
- Bass boats and fishing boats
- Pontoon boats
- Ski boats and wakeboard boats
- Jon boats
- Deck boats
- Sailboats
- Personal watercraft (jet skis and wave runners)
- Canoes and kayaks (in some policy structures)
- Older or classic boats
If you own more than one watercraft, we can often bundle coverage and simplify your policy management at the same time.
Agreed Value vs. Actual Cash Value — What's the Difference?
One of the most important decisions in a boat policy is how your boat gets valued at claim time. It's worth understanding before you buy.
Actual cash value (ACV) pays what your boat is worth at the time of the loss — after depreciation. If your boat is several years old, that number may be significantly lower than what it would cost to replace it.
Agreed value means you and the carrier agree on the boat's value upfront. If it's a total loss, you receive that agreed amount — no depreciation applied. This tends to cost a bit more in premium, but it eliminates the surprise at claim time.
We'll explain both options clearly and help you decide which structure makes sense for the age, type, and value of your boat.
Coverage That Fits Your Boating Season
Some boaters are on the water every weekend from March through October. Others take the boat out a handful of times a year. Your coverage should reflect how you actually use your watercraft — and some policies offer lay-up periods or seasonal adjustments that can affect your premium.
Year-Round Storage Coverage
Even when your boat is on the trailer in the driveway or locked in a storage unit, it needs to be covered. Theft, weather damage, and vandalism don't take the off-season off.
On-Water Liability
If you're responsible for an accident that injures another boater or damages their property, liability coverage handles the financial exposure. Without it, you're paying those costs directly.
Passenger Medical Coverage
Medical payments coverage takes care of your passengers if someone gets hurt on your boat — regardless of fault. On a busy lake with wakes, tubing lines, and dock maneuvers, that protection matters.
Towing and Emergency Assistance
On-water towing coverage means that if your engine quits in the middle of the lake, you're not paying out of pocket for a tow back to the dock. It's one of those coverages that feels unnecessary — until it isn't.
Questions East Texas Boaters Ask Us
Do I have to have insurance to register my boat in Texas?
Texas does not require liability insurance to register a boat with Texas Parks and Wildlife. However, many marinas, storage facilities, and lenders do require it. Even without a mandate, carrying coverage is the straightforward choice when you consider the cost of an uninsured accident or total loss.Does my homeowners insurance cover my boat?
Some homeowners policies include limited coverage for small watercraft — typically small boats with low-horsepower motors. Larger boats, high-value vessels, and personal watercraft almost always fall outside that coverage. A standalone boat policy gives you complete, purpose-built protection.What happens if I let someone else drive my boat and they have an accident?
In most cases, boat insurance follows the vessel — not the driver. If you give someone permission to operate your boat and they cause an accident, your policy is typically the one that responds. This makes your liability limits an important consideration when setting up your policy.Is my boat covered while it's being trailered on the highway?
Many boat policies extend coverage to the trailer and to the boat while it's in transit. Your auto policy may also provide some coverage for the trailer itself. We'll review both so you know exactly where one policy ends and the other begins.Can I get boat insurance if my vessel is older or custom-built?
Yes, in most cases. Older boats and custom builds may require agreed value coverage or a stated value policy rather than a standard ACV structure, but coverage is generally available. The best step is to call us and describe what you have — we'll find the right carrier fit.
Local Agency, Real People, No Runaround
Wallace & Murray has been serving East Texas since 1972. When you call our Canton office, you reach someone who works here — not a call center routing system. We write boat insurance the same way we write every other policy: by understanding what you actually own and what you actually need, then finding coverage that fits. No agency fees. No pressure. Just straight answers from people who know this area and the lakes that come with it.
We work with multiple carriers, which means we're not locked into one company's options. We shop on your behalf and present what makes sense for your situation.