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Get your instant Boat Insurance quote online today. It’s not cheap boat insurance, it’s affordable! We provide coverage from reliable marine Underwriters and boat insurance companies. Click “ Quote & Buy Now ” to start your pleasurecraft insurance application.

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Protection & Indemnity (P&I)

Purchase your insurance coverage online for Protection & Indemnity - the most important aspect of protecting you your marine vessel.

Your Pleasurecraft Liability

We offer standard liability insurance for your boat; however, you may also get a quote for the potential pollution risk that operating your boat entails.

Physical Damage to Vessel

Insurance for any damage that could occur to your vessel itself or its motor, sails, and more can be included with your boat insurance policy.

Your Towing Trailer

Even cover your towing trailer used to move your vessel from your home to the lake, or one location to another. If you don't need that, no problem!

Learn more about Boat / Pleasurecraft Insurance

What is covered by boat insurance.

Our Boat Insurance package covers your vessel up to its determined value (hull & machinery) as well as providing liability (protection & indemnity) in the event you are liable for a third party loss. We also offer up to $1,000,000 pollution liability for your watercraft.

Eligible vessels include:

• High Performance Boats
• Water-Ski Boats
• Small Runabouts
• All Types of Recreational Fishing Boats
• Pontoon Boats
• Power Cruisers
• Jet Drive Boats
• Large Yachts (up to $50,000,000)

Why do I need insurance for my boat or pleasurecraft?

Being in your boat out on the water can be some of the most relaxing and fun times had – don’t risk the loss of your investment by having no insurance coverage. Not only does our policy package cover your vessel, but your liability while operating it as well.

How much does Boat Insurance cost?

The cost of your personal watercraft insurance will depend on certain variables including the vessel value, age, type, and limits of coverage requested. We are able to offer terms with competitive premiums for this coverage.

Please note that completing our application for insurance does not cost anything or require you to proceed with the coverage once a quote is provided – customer service is our first priority.

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Marine insurance specialists for over 70 years. Exclusive broker for Sail Canada.

Gallagher Skippers’ Plan advantage

The most comprehensive boat insurance coverage available for all types of boats. Our licensed insurance professionals act as your personal advisor providing expert advice and customized boat insurance coverage for your personal needs.

Protect your power boat or sailboat today!

We share your passion.

Protecting Canadian lifestyle on the water for over 70 years whether you own a:

• Fishing Boat

Whether you’re a weekend sailor or racer, own a cruiser or smaller boat you’ll find coverage that exactly fits your needs.

1.800.661.7211

Toronto/GTA: 416.789.7211 Fax: 416.789.9493

© Arthur J. Gallagher & Co. Arthur J. Gallagher Canada Limited

Gallagher Skippers’ Plan 169 Enterprise Blvd., Unit 400 Markham, Ontario L6G 0E7

• Email Us: [email protected]
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The Right Marine & Boat Insurance For Life On The Water

Boat insurance and marine insurance for british columbia, canada.

For Business or Pleasure, HUB Has You Covered

Pleasurecraft Marine Insurance

Commercial marine insurance.

• Automatic escalation clause
• Collision liability coverage
• Damage due to faulty design
• Failure to launch protection
• Coverage options for inventory
• Legal and labour expenses
• Third-party vessels
• Errors & omissions causing financial losses
• General liability for bodily injury
• Third-party property damage
• Coverage of offices & buildings
• Coverage of contents & equipment

• Floating property
• Hull & machinery
• Liability coverage
• Lift liability

• Damage to vessels
• Traveling workman coverage
• Protection & indemnity coverage
• Legal liability

Hi, We’re HUB.

Your HUB Marine Insurance Team

Beverly Carlson

Senior Account Manager

Michaela Kuehn

Killian Heraughty

Account Executive

Michael McCray

Insurance Advisor

Our Boat Insurance & Marine Insurance Advantage

Multiple Underwriters

With multiple underwriters, HUB will find you the best value insurance to save you money, while protecting your investment.

Variety of Coverages

We offer a variety of service levels, providing you with choice to select right insurance for your marine needs.

24/7 Claim Service

HUB is here to assist you with your emergencies, at any time, with a 24/7 claims number.

Experienced Staff

Our team has well over 50 years of industry experience and can provide you with the seamless service you deserve.

Float Home Coverage

HUB can provide excellent coverage for your float home.

Liveaboard and Contents Coverage

HUB has partnered with the right Underwriters to provide you with the coverage you need for you to live aboard, with the knowledge that your boat and contents are protected.

Older Boats & Boathouses Coverage

Finding coverage for your older boat can be tricky, but you can rely on HUB’s expert team to find you the protection you need.

Auto, Home, Commercial Insurance

HUB International provides coverage for your car, house and business, so you can keep all your risk management under one roof.

Our Customers Love Us

See What Our Customers Are Saying

Questions About Our Marine Insurance?

Frequently Asked Questions

Whether it’s commercial or personal marine insurance you are looking for, our HUB advisors are here to ensure you’re ready for tomorrow. Our vast global resources and solid local relationships will ensure you receive the best coverage, best value and best service. We are dedicated to helping you protect what matters most by providing the best possible solution tailored to your specific needs.

For Personal Marine

For yacht club & marina operators, for ship repairers, what level of liability insurance do you require.

Most marinas will require you to carry at least $1 Million in Liability Insurance. However, to be properly protected within the scope of the Marine Liability Act, you need to carry a minimum of $2 Million in coverage.

What is a Marine Survey and why is it important?

Depending on the age of your vessel, you may be required to have a Marine Survey done. The surveyor will need to be approved by Underwriters or a member of SAMS (Society of Accredited Marine Surveyors) or NAMS (National Accredited Marine Surveyors).

Are different kinds of vessel materials more expensive to insure?

Wood vessels are more expensive to insure than fibreglass vessels.

What is claim service and why is it important?

Most claims happen outside of office hours. Does your broker have 24 hour claim service? Do they have the actual knowledge to assist you with appointing a Surveyor, Lawyer, Salvage Team and other experts you may need on the weekend?

What should you pay special attention to in reviewing your policy?

Not all insurance policies are the same. It is not always about price, but what you get for that price. Two aspects you want to look at closely when shopping around are: the exclusions of the policy and how a loss is settled. At HUB International, our Lifeline policy is an agreed value policy. That means we will not depreciate your vessel in the event of a total loss. All partial loss claims are settled on a new for old basis, again meaning no depreciation (not even on Sails, Canvas, Upholstery, or Rigging). Our Lifeline policies have fewer exclusions than most other policies.

What is limit of insurance?

The limit of insurance you purchase on your boat needs to include items such as taxes, duty, freight and additional equipment installed. Those values may not be included in the initial price of your boat. The limit also needs to reflect the furnishing and equipment, which would include kitchen items, safety gear, bedding, and anything else that is part of the running or operation of your vessel.

Does how damage is caused make a difference?

There is a difference between resulting damage due to Latent Defect and wear and tear. Our policies cover both. Many other policies available will only cover Latent Defect. Latent defects are inherent weaknesses which normally are not detected by examination or routine tests, but which were present at the time of manufacture and are aggravated by use. Our policy will cover resulting damage when the damage results from faulty designs, faulty workmanship, the installation or use of improper or defective materials, wear and tear, gradual deterioration or corrosion provided the defect or condition would not have been detected through a reasonable prior inspection.

What is Replacement Cost, Agreed Value and Actual Cash Value?

The difference between Replacement Cost, Agreed Value and Actual Cash Value. Do you REALLY know what you are insured for? Replacement Cost: In the event of a total loss, your Underwriters would replace the boat with a similar current model year, despite the limits shown on the policy. In the event of Partial Loss, repairs will be done a new for old basis without deduction. Agreed Value: In the event of a total loss, you would be pay out what you are insured for on your policy coverage page with no deduction for depreciation. In the event of Partial Loss, repairs will be done a new for old basis without deduction. Depreciated Value: Applying full depreciation to your vessel may result in you not being paid out the full amount you are insured for. Partial losses would also be depreciated on all parts and labour.

Is it really required?

The misconception is that if you own or operate a marina, you automatically require Marina Operators Liability. Yet this is not true in all cases. Step one is to identify your risk exposure. If your Marina offers any of the following, you do indeed require Marina Operators Liability:

• Lifting, hoisting or hauling of vessels out of water;
• Provide land storage;
• Operating ways;
• Repairing or service work; OR
• Incidental repair or maintenance.

What do I need if I don't offer any of the above?

The answer is an important follow-up question: Do you have Care, Custody & Control of your customers’ vessels?

What is Care, Custody & Control? And what does it mean to be a Bailee for Reward?

If you have Care, Custody & Control of a client’s vessel and you are being paid for your Marina services, you are acting as a Bailee for Reward. That makes you legally liable for any damage to the vessel resulting from your negligence. If vessels are left with you—whether in your yard, building, ways or travel lift—you again have Care, Custody and Control. The same applies if you provide pick up and/or deliver your client’s vessel.

What is it? And what does it mean to be a Bailee for Reward?

Who needs to consider purchasing it, what does it cover, what is the “discovery clause”, what is the traveling workman endorsement, what is detention endorsement.

No Matter Where You Are, HUB Has You Covered

We Offer Boat Insurance and Marine Insurance Throughout British Columbia, Canada

Stay up to date.

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Proper Storage and Mooring, and Its Impact on Your Boat Insurance

Marine insurance, like other insurance policies, is greatly influenced by risk factors. Among these major risk factors are storage and mooring practices, both of which

Fire Safety Onboard: Equipment, Procedures, and Insurance Implications

Nobody wants to fall victim to a fire. It is, at very least, a terrifying experience, so prevention is key, as well as ensuring your

Boat Maintenance Checklist: Keeping Your Boat in Insurable Condition

Owning a boat is an incredible experience, infusing leisure time with a sense of freedomand adventure. However, keeping a boat in tip-top shape requires diligent

Determining the Cost of Boat Insurance in B.C.

Whether it’s for leisurely afternoons fishing on serene lakes or thrilling water sports activities on the ocean, owning a boat in British Columbia offers limitless

Boat Insurance and Environmental Damage: Oil Spills, Pollution, and More

Understanding Boat Insurance Coverages for Environmental Incidents Liability coverage in boat insurance includes bodily injury and property damage coverage, safeguarding you if you’re responsible for

Insurance and Boat Operation: Navigating the Effects of Alcohol and Drug Use

The thrill of cruising on the open water, whether on a leisurely fishing trip or a lively party cruise, is an indisputable aspect of boating.

Let's Get You Covered

Request a quote.

Need more information on our marine insurance solutions? Contact us to speak with a member of our team. We are here to answer any questions you may have and help you find the right coverage for you.

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400-4350 Still Creek Drive Burnaby, BC V5C 0G5

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Personal: +1 (604) 229-6547 Business: +1 (236) 877-2400 Claims: 1-855-HUB-HELP

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Mon to Fri: 8 am to 5 pm Claim Service: 24 Hours

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Manage All Your Risk Under One Umbrella

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Pleasurecraft Boats

Our cornerstone product has allowed us to become one of Canada’s largest providers of pleasurecraft insurance. For over twenty years, Beacon has offered All Risk coverage on an Agreed Value basis that is very competitively priced, and for the widest range of vessels imaginable. From wooden hulls to personal watercraft, houseboats to river boats, we can provide coverage for a broad spectrum of vessels across Canada.

All Risk, Agreed Value policy

• Rental Expense coverage is included
• Emergency Towing is included
• Extra Expense coverage is included
• Underinsured Boater Protection
• No sub-limits for water skiing, wakeboarding, tubing, etc.

Up to $5,000,000 Protection and Indemnity (liability) coverage is available

Our Pleasurecraft product is available on the portal! Quote, bind and issue on-demand here .

Applications

700 W Georgia St #1488, Vancouver, BC V7Y 1A1 T: 1-888-645-8811

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Boats & Personal Watercraft Insurance

Protection on and off the water.

From small runabouts to cruisers and sailboats, we have you covered

Cowan Insurance Group offers one of the largest, most comprehensive and well recognized boat and pleasure craft insurance programs in Canada, with coverage for boat owners in all Provinces.

If you own one of the over 8 million estimated boats in Canada, you understand both the joys and responsibilities that come from boat ownership. Boats often represent a significant expense and while boat and personal watercraft insurance isn’t legally required in Canada, there are many reasons why it makes sense.

The proper insurance coverage can protect you from the following:

• Liability coverage for injury to passengers including water skiers or tubers being towed by you
• Liability coverage for injury to others in the water, or aboard other watercraft
• Theft or damage including loss of attached equipment
• Damage caused by your boat on someone else’s property

While smaller non-motorized watercraft may be covered under your home or cottage insurance, larger and motorized watercraft often require specialized coverage. We insure a variety of boats, including small runabouts, trawlers, jet boats, pontoons, sailboats, cruisers, high-performance boats, yachts, and more.

Additional benefits of getting your boat insurance with Cowan:

• Membership discounts for Canadian Power & Sail Squadrons (CPS-ECP)
• Flexible survey requirements
• Agreed Value
• Replacement cost on boats up to three years of age
• Coverage available for Southern cruise
• Not at fault – no deductible clause

Our team of knowledgeable and experienced advisors will help you find the right coverage that sets you on course to enjoy your watercraft, without worry.

Membership discounts for Canadian Power & Sail Squadrons (CPS-ECP)

Canadian Power and Sail Squadrons (CPS-ECP) is a non-profit organization of recreational boaters with over 20,000 active members. Cowan is proud to be one of the most recognized marine pleasure craft insurance providers in Canada. We have partnered with CPS-ECP to provide exclusive coverage to its members.

Canadian Power & Sail Squadrons (CPS-ECP) (External link)

Why partner with Cowan Insurance Group?

Expert Advice

Someone who specializes in personal insurance will call you directly. Our expert advice means you will speak to the right person the first time.

Custom Coverage

Custom coverage specifically built for you means that Cowan will take the time to learn about your insurance needs.

Our Promise

Cowan is Canadian owned and independent. Your satisfaction is the only outcome we accept. Our clients are at the heart of everything we do and we care about what you care about.

Are you insured for your next trip?

Learn how Travel Insurance can protect you if the unthinkable happens while you are out of the country. Whether your baggage is lost, your flights are delayed or you are in need of emergency medical assistance, our Travel Insurance has you covered.

Personal Vehicle Insurance

Protect yourself and your loved ones by purchasing auto insurance through Cowan. As an independent broker we work for you, and will find the best coverage to meet your needs.

Home & Property Insurance

Whether you rent or own, your home and belongings likely represents your most significant investment. You need to be confident that your home and contents are fully covered by your insurance plan.

Expect more with Cowan Private Client

Cowan Private Client offers a personalized experience for individuals and their families. We provide solutions and expertise for the protection of physical and financial assets.

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Pleasure craft, cruising, racing and power boats - we provide specialised insurance services, with risk management as one of the key points of focus. We can also provide solutions for hard to place coverage like antique and classic wooden boats, Caribbean cruising, year-round live aboard and more.

For more than 70 years, Gallagher Skippers' Plan has been providing boat owners with the insurance coverage they need for the peace of mind they deserve. What makes our team unique is not only our professional expertise from years of experience, but the fact that we share your passion for being on the water.

Gallagher Skippers' Plan can provide you with insurance coverage for:

• Cuddy Cruisers
• Pontoon Boats
• Personal Watercrafts
• Antique and Classic Boats

We provide the most coverage options for boat owners like you, which include:

• Agreed Hull Value
• Protection and Indemnity Liability
• Medical Payments
• Accident Benefits
• All Season Coverage
• Personal Effects
• Land Transport Protection
• Wreck Removal and Salvage
• $5000 Emergency Towing Coverage – no deductible

Gallagher is one of the leading marine insurance brokers in the world and our clients will benefit from the enhanced line of products now available.

Find Out More

For more information, call us at: Phone: (416) 789-7211

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• About RecProtect

Boat Insurance in Canada

Discover the joy of boating alongside your friends and family, as you travel Canada’s renowned bodies of water. Experience the serenity of the open water as you uncover remote islands, secluded beaches, and untouched nature reserves. Ensure that your journey is protected every step of the way by making boat insurance an integral part of your boating adventure. Trust RecProtect to provide comprehensive coverage and exceptional customer service to safeguard your vessel, and provide you with peace of mind while on the water.

Free Boat Insurance Quote

The Best Boat Insurance Broker in Canada

RecProtect is a reputable insurance broker specializing in recreation insurance for trailers and boats across Ontario , Alberta , British Columbia , Saskatchewan and Manitoba. We are committed on delivering transparent and comprehensive information about our policies and a streamlined claim process. With RecProtect, you can expect personalized insurance coverage tailored to your specific boat type, providing the necessary protection while eliminating unnecessary expenses. Our mission is to simplify recreational coverage, and our innovative approach allows us to offer real-time quotes, providing you with a customized estimate in less than a minute.

Why Choose RecProtect Insurance for Your Boat

Do you need boat insurance in Ontario or across Canada? Choosing an insurance broker should be a well-considered decision, and RecProtect emerges as the optimal choice for several compelling reasons:

• Having extensive expertise in the recreational insurance industry, we specialize in providing tailored coverage that meets your unique requirements.
• With a commitment to staying ahead in the competition and combined with our steadfast dedication to competitive pricing, we guarantee that you will get an exceptional value for your watercraft investment.
• Our honesty and dependability form the bedrock of our business as we aim to establish long-lasting relationships built on trustworthiness.
• By offering a diverse range of insurance options, we deliver customized and flexible coverage to suit the specific conditions of your boat.
• We have a dedicated customer service team that is readily available to provide exceptional support at every step of the process, whether it’s for helping you find the right coverage or processing a claim.
• Additionally, our user-friendly online quote system makes obtaining a quote effortless and convenient.

When it comes to selecting a boat insurance broker, RecProtect is the undeniable choice for exceptional service, unmatched expertise, and bringing you peace of mind. We are your trusted boat insurance brokers in Ontario , Alberta , BC , Saskatchewan, and Manitoba.

Comprehensive Boat Insurance in Canada

Collision coverage.

• Covers damages from collisions with other boats
• Provides coverage for damages caused by collisions with docks and buoys
• Includes insurance for damages resulting from collisions with other object

Comprehensive Coverage

• Provides boat coverage for theft of your boat
• Protects your boat against intentional vandalism
• Insurance for damage caused by extreme weather events

Liability Coverage

• Coverage for injuries caused to others while operating your boat
• Coverage for property damage caused to others while operating your boat
• Pays for medical expenses, lost wages, and other damages

Loss of Use Coverage

• Covers the cost of renting a temporary replacement boat
• Coverage for alternative transportation expenses
• Reimburses you for additional expense including accommodations and meals

Medical Payments

• Covers the medical expenses resulting from bodily injury caused while operating the boat
• Coverage for expenses not covered by other health plans or medical insurance
• Ambulance transportation is included in the cost

Personal Effects/Equipment Coverage

• Coverage for personal items on your boat
• Protection for fishing gear, electronics, and equipment
• The maximum coverage per item is $500

Salvage Coverage

• Coverage for boat removal expenses
• Potential coverage for boat repairs after salvage
• Potential coverage for cleanup and restoration after salvage

Emergency Towing and Assistance

• Covers the cost for emergency towing your boat
• Pays for fuel and delivery
• Roadside assistance services

Boat Insurance Coverage Across Provinces

As Canadians, we have access to all sorts of different bodies of water. From the Great Lakes to the unlimited smaller bodies of water, these provinces provide plenty of opportunities for adventure, relaxation, and entertainment on the water. It’s also an ideal opportunity to ensure that we have the right insurance for our boat before heading out on our boating excursions to protect our watercraft from dangers that could happen when navigating unfamiliar waters, unpredictable weather, or unforeseen accidents. At Recprotect, we understand the importance of safeguarding you and your boat, and offer comprehensive coverage in these provinces:

• British Columbia
• Saskatchewan

Frequently Asked Questions about Canadian Boat Insurance

If you own a recreational boat or personal watercraft in Canada, you are not legally obligated to have boat insurance. While there is no specific legislation that enforces insurance for recreational boating, it is still strongly recommended to get insurance for your boat to protect you from any potential financial losses and liabilities you might encounter.

Depending on the boat you own and the type of boating equipment you have, most insurance costs for a recreational boat range from $300 to $500 annually.

Having someone else drive your boat is allowed as long as they meet the following requirements:

• They must be at least 20 years old
• Have Pleasure Craft Operator Card
• Have no claims within 3 years
• Have 3 years of boating experience

If you are planning to take you boat across the border you will only be covered if your boat is in fresh water and above the 40th parallel or 40 degrees north of the Earth’s equator.

The current recreational boats and watercraft that we provide coverage for include:

• Bowrider Boats
• Cabin Cruiser Boats
• Fishing Boats
• Pontoon Boats
• Runabout Boats
• Wake Board Boats
• Personal Watercraft (PWC)
• Jet Skis and Sea-Doos

In the event of a collision or unfortunate accident, the first thing you should do is make sure that you and everyone involved is safe. Next, try to collect as much details as possible including taking pictures and gathering contact information from all parties involve. Afterwards, contact RecProtect by visiting our claims page here .

Get a Free Quote

Boat insurance quotes in Ontario , Alberta , British Columbia , Saskatchewan, and Manitoba.

Compare and purchase the best boat insurance rates in Ontario.

Compare and purchase the best boat insurance rates in ontario..

A popular and fun summertime activity is boating, even though in most provinces you only use your boat for a few months out of the year, it is still important to have it insured all year round.

Boating is a popular pastime in Ontario, especially in cottage country with the many lakes and small towns to visit and explore! In Ontario, the waterways alone are made up of 250,000 lakes, rivers, canals and bays, providing boaters with the best freshwater cruising and experience of a lifetime! Ontario has one-fifth of the worlds fresh water at its doorstep, making boating and other water activities incredibly popular, allowing you to get out and experience nature and have fun!

No two boats are alike so make sure you speak with one of our Advisors to get the best advice.  We'll provide you up to 10+ quotes from Canada's top boat insurance providers, getting you the coverage you need, for the best price possible.

Boat Insurance FAQs

Why is boat insurance important.

Boat insurance covers you in the event of a loss or damage to your watercraft. It covers most watercraft with motors, including fishing boats, paddle boats, leisure crafts, even yachts (for you high rollers!). For smaller boats, you may find some limited coverage under your homeowner's policy, so it's best to chat with your Surex Advisor about what you're covered for and what you need to add to your policy when you buy a boat.

Do I need boat insurance in Ontario?

Ontario does not have a law that requires you to carry insurance on your boat or power watercraft. There might be a time when you have no choice but to purchase insurance. However, marinas in Ontario will require proof of boat insurance before they will allow you to use the marina or store your boat on their property so always best to be covered. 

What insurance does a boat need?

The amount of boat insurance you will need depends on a number of factors such as the value of the boat, the motor size, the age and how you use it (speed boat vs a pleasure cruiser). For example, if you bought a new high-performance speed boat, you will need more coverage for bodily injury and property damage liability than you would if you had a pleasure cruiser.

How much is boat insurance per year?

The general rule when it comes to figuring out the average boat insurance prices is that you'll pay about 1.5% of the value of your boat in annual rates. So, to insure a boat worth around $50,000, it would cost you only about $750 per year to have it fully insured. Typically it will cost $200-$500 per year.

What information should I have when getting boat insurance in Ontario?

This is similar to the information you would give out when getting auto insurance, here is the information you would need to provide:

• The length, type and value of your boat
• The condition of the boat and the market value
• How often the boat is used, what it is used for and where you store it
• The waters you take the boat out on and if you ever charter your boat
• The experience, loss and claims history of the owners and/or operators
• Any clubs the owners are members of (Sail Canada, or Canadian Power and Sail Squadrons)

Who has the best boat insurance rates in Ontario?

It's best to shop around and compare, and that's exactly what we do for you at Surex! We work with the top insurance companies in Canada to provide you with the best rates for your situation. We can find the right boat insurance in Ontario for you!

What is the mandatory safety equipment I need on my boat?

According to the Government of Canada's guidelines, the minimum requirements are based upon the craft’s length. For a motorized craft no greater than 6 metres (19 feet 8 inches) in length, the following equipment is required:

• An appropriately sized, Canadian-approved personal flotation device ( PFD ) or lifejacket, for each person on board
• A buoyant heaving line (15 metres in length)
• Manual propelling device or anchor with at least 15 metres of rope, cable or chain
• Bailer or hand pump
• Sound-signaling device
• Navigation lights if the craft is used between sunset and sunrise or during periods of reduced visibility, i.e. mist and rain
• A class 5BC fire extinguisher for any craft equipped with an inboard motor, fixed fuel tank, and/or any fuel-burning cooking, heating or refrigeration units
• A waterproof flashlight or 3 Canadian-approved flares (type A, B or C flares)
• A vessel license if your craft is outfitted, even temporarily, with any motor of 10 hp (7.5 kW ) or more. Ensure your vessel is properly marked and you carry a copy of the vessel license.

Did you know that this requirement also applies even when you are renting or borrowing a boat, regardless of the size? (The responsibility is equally shared between the renter and the owner). Remember the equipment must be in good working order, easily accessible, and useable by all passengers on board.

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BOAT INSURANCE 101: TO INSURE OR NOT TO INSURE?

While insurance for your boat is not a legal requirement, a wise boater takes the time to get educated on the benefits of a policy that protects not only property but liability too. So we turned to a marine insurance veteran – and former Boating BC board member – Paul Mendham, CIP, President of Navis Marine Insurance , to teach us the basics.

“I’ve seen lots of crazy things,” says Paul. “Boats sunk and docks collapsed by a big wake, or damaged in heavy snowstorms. Many people think they don’t need insurance because they are careful, or that nothing will happen to them. Well, stuff happens – and then you’re the one writing the cheque!”

According to Paul there are two good reasons to insure your boat: to protect your asset, and your net worth arising from liability. If you get into an accident, and cause property damage or hurt someone, without insurance everything you own can be at risk.

What kind of insurance do I need?

That depends on what kind of boat you have. A canoe or kayak – low value, no horsepower and little liability - can be easily added to your home insurance policy. But if you have a powerboat, or a larger sailboat you need a dedicated marine insurance policy. ‘All risk’ policies cover you for most types of losses, but there are exceptions, so be sure to read the fine print.

Where should I buy my insurance?

First you should know an agent represents one insurance company, while a broker works with a variety of companies. Powerboat insurance can be a complex purchase, so choose a broker with specific marine experience, and who can put together a package that suits your needs.

What should I ask my broker?

It’s great to be prepared, so here’s what I would ask:

• What experience do you have insuring boats, and how often do you insure them?
• Which insurance company is insuring my boat, and why do you recommend them?
• What is covered, what extensions are included, and what warranties (conditions) are required of me?
• “Agreed Value” – in the event of a Total Loss, you will be paid the limit shown on the policy.
• “Actual Cash Value” – replacement cost, minus depreciation.

Why is liability insurance important?

It’s important to protect all your assets in case of an accident. In Canada the Marine Liability Act says that a boat owner is legally responsible for up to $1.5M in the event of an accident. If you are found liable, you have to pay.

When should I buy my insurance?

You should be insured from the time you take title of the boat, and before it leaves the dealership. Also ask your dealer about how your deposit is protected, and what their insurance covers – while the boat is on order, and before it arrives at the dealership. Ask for a certificate of insurance, and to be added to their policy as a loss payee, in case anything happens to it.

If you borrow money to buy your boat, insurance is no longer an option, but a requirement of the bank.

How much should I budget for insurance?

Typically if your powerboat is under $100K, you can expect to pay 1% of the insured value, so about $1,000 a year. A $500K boat drops to about .5% of its value.

“The difference between great insurance and bare bones is less than the cost of a tank of gas.”

Are discounts available?

Discounts are available after you have responsibly owned your boat for three to five years, for being claims free, and if you have taken courses at  Canadian Power and Sail Squadron or Sail Canada . Discounts are not available for holding the required Pleasure Craft Operator Card…that’s like asking for a discount because you have a driver’s license.

Is my boat insured even when I’m not using it?

Yes, when you buy a year’s policy, your boat is covered in storage, in transit, on the water – and over the winter. The risks don’t stop when you’re not using your boat - it’s more likely to sink when you are not there, and more electrical fires start in the cold months.

Can my insurance be voided?

Yes, if you are involved in any criminal act – such as drinking illegally on your boat - your insurance is void.

What about my trailer?

ICBC requires a license plate, and liability insurance. Physical damage can be added to your boat policy for Agreed Value.

Take time to choose your insurance, Paul advises, to make sure you get everything you need.

He asks, “What’s peace of mind worth to you?

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Among the Best Boat Insurance Quotes in Canada

You work hard to ensure your watercraft is kept in pristine condition, enjoying your carefree summers riding around on crystal-clear lakes and rivers, and creating memories for years to come. However, any boat owner knows that despite their best efforts, sometimes issues can arise and land their vessel in a state of repair.

 Although it is not mandatory in Canada, boat insurance provides peace of mind in those situations, protecting yourself and your investment. 

Boat insurance ensures that you are covered in the event of unforeseen circumstances. This means that you won’t be paying hefty prices out of your own pocket. If you are considering getting this type of protection for your vessel, quotes are readily available online and can help when you are shopping around for the best policy. 

At Portside Insurance, we have decades of experience when it comes to insuring watercraft of all kinds. Our policies are thorough, covering all aspects of your boating needs. Our agents in Ottawa are available if you would like a more personalized quote as well. We are open Monday to Friday from 8:30 a.m. to 7:30 p.m., as well as Saturdays from April 1st to September 30th from 12 p.m. to 6 p.m.

Boat Insurance Claims

With a reliable insurer, filing claims for your vessel should be a seamless experience, one where all of your questions and concerns can be readily answered. Repairs should be performed promptly and effectively, allowing you to get back out on the water as soon as possible.

 At Portside Insurance, we will work with you to ensure that solutions, such as finding specialized parts, are possible in the first place, and we’ll keep you updated every step of the way. We recognize that accidents can happen for all kinds of reasons; perhaps you hit a rock while exploring a new area and bent your prop, for instance, or maybe you were unable to stop while docking and damaged your hull. 

Winterizing is an essential part of boat ownership, but what happens if a pest moves in and destroys your navigation system in the process? We’re here to help, regardless of the issue at hand with your vessel.

When signing up for a policy with us, we provide a complete list of incidents that might lead you to make a claim to ensure you, as the policyholder, are informed. Even if your watercraft sustains damage and you are unsure about your coverage, our brokers are happy to discuss what happened and advise you on the capacity of your insurance. We never want our clients to feel like they are stuck in the water without support. 

Types of Boat Insurance Available

Summer fun can come in many different forms. Whether you enjoy zipping around on your Seadoo, exploring the fishing waters in a bass boat or captaining a yacht, Portside Insurance has a policy for you. As experts in this field, it is vital that we provide many different options for watercraft enthusiasts. 

Each of our policies is tailored to your specific vessel, taking into account unique parts and services that other insurers may not be aware of. 

Our plans cover plenty of aspects that are important to you including brand-new replacement parts, emergency towing assistance, and even agreed value coverage to protect against depreciation on your investment should it need to be fully replaced. 

Explore our online boat insurance quote tool so you can better understand how we can protect you from expensive out-of-pocket problems. If you are unsure whether your watercraft can be covered under a policy, reach out to us . We’d be happy to work with you and see what we can do.

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Transport Canada takes unprecedented action to keep boat passengers safe

From: Transport Canada

News release

Today, the Minister of Transport, Pablo Rodriguez, announced that Transport Canada has taken unprecedented action to put an end to serious violations of the Canada Shipping Act, 2001 concerning unlicensed passenger vessels. This action underscores Transport Canada’s commitment to enforcing marine safety and protecting Canadians.

August 21, 2024        Montréal, Quebec             Transport Canada

Keeping Canadians safe is Transport Canada’s top priority.

In Canada, all vessels that provide a paid service to carry passengers must be registered as passenger vessels and meet applicable safety requirements. Furthermore, vessels carrying passengers in non-compliance with the Canada Shipping Act, 2001 may be subject to an Administrative Monetary Penalty of up to $250,000 related to safety deficiencies.

Transport Canada is aware of the rising trend in pleasure craft operators offering transportation to paying passengers without first registering their vessel as a passenger vessel and ensuring they comply with applicable safety requirements. This is why Transport Canada has increased its level of oversight activity by allocating additional resources to enhance the monitoring of these activities. Transport Canada is also conducting outreach to ensure vessel owners are aware of their obligations.

As a result of this recent increase in activity, the department recently took the following action:

• On August 3, 2024, Transport Canada seized the JAG vessel in Boucherville, Québec. The vessel was found to be in non-compliance with several key requirements of the Canada Shipping Act, 2001, including a lack of firefighting, fire detection, fire protection, and life-saving equipment, as well as the absence of lifejackets and certification. Despite repeated warnings and opportunities to correct these issues, the vessel’s owner failed to meet the necessary safety and operational standards.
• In addition to the seizure of the JAG , a number of other vessels have been detained through recent oversight efforts while their non-compliances are resolved.

Transport Canada will continue to rigorously enforce all applicable laws and regulations to ensure the safety of all Canadians. We remind all vessel owners and operators to follow the rules and maintain the standards required by law. Similarly, we invite all customers to request a copy of the vessel’s safety certificate from the operator before they embark on a vessel.

“All vessels carrying Canadians and tourists must meet Transport Canada’s safety standards. Non-compliance will never be tolerated.” The Honourable Pablo Rodriguez Minister of Transport

Quick facts

The Canada Shipping Act, 2001 , is designed to ensure that all vessels operating in Canadian waters adhere to strict safety and environmental regulations. Our priority is to protect lives, property, and the marine environment.

In Canada, it is not permitted to offer the carriage of passengers for remuneration on a pleasure craft. Consult Ship Safety Bulletin No. 19/2024 for more information.

All vessels carrying passengers for remuneration must be registered as passenger vessels. A duly registered vessel obtains an official number from Transport Canada. This number can be either a series of 6 digits (example: 876543), or a 5-digit number preceded by the letter C and ending with the province code (example: C12345QC). You can check these official numbers on the Transport Canada website, using the Vessel Registration Query System .

Associated links

• Using pleasure craft as non-pleasure craft - SSB No.: 19/2024
• Non-Pleasure Vessel or Pleasure Craft?
• Pleasure Craft Factsheet (canada.ca)

Laurent de Casanove Press Secretary Office of the Honourable Pablo Rodriguez Minister of Transport, Ottawa [email protected] Media relations Transport Canada, Ottawa 613-993-0055 [email protected]

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