There’s nothing like taking the boat out for a cruise on a hot summer day. Canadians make the most of the warm weather and the summer by being out in the water. Whether you have a jet ski, pontoon or yacht, you need to make sure that you have the right insurance coverage before getting on the water.
At McClelland Insurance, our brokers provide you with expert advice on the risks and coverages needed for boats. Our brokers fully understand what coverage you need to make sure that you enjoy your outing with your boat worry-free.
What is boat insurance?
Boat insurance provides coverage for loss or damage to the boat caused by insured events such as fire, accidents, theft, or vandalism. Depending on the size and value of the boat, it can be added to an existing home insurance policy, or it can be insured through a watercraft insurance policy.
What’s covered and not covered usually depends on the insurance company and type of policy. Here are some coverages that are important to consider:
- All Risks coverage – this provides broader coverage for physical damage to the boat.
- Wreck removal – coverage for wreck removal expenses for a covered claim.
- Watercraft liability – coverage if you cause damage to others’ property or cause injury to others while using your boat.
- Emergency towing and loss of use – coverage for towing plus the cost of a replacement boat in the event of a covered claim.
Boating licence and insurance
If you have a motorized boat, you will need to have a boating licence to operate it. You’ll also need your license if you decide to purchase boat insurance. A licence is legally required in Ontario and across Canada to operate a motorized boat to help ensure safer waterways for everyone.
Getting a licence involves training and taking a test – it’s all done online through accredited providers. You’ll learn critical information about navigation, weather, what to do in an emergency and boating terms among many others.
You can check Destination Ontario’s website for all the information you need to get started.
Staying safe in the water
There are a number of resources available online to learn about boating safety. There are great tips and resources on Transport Canada and Discover Boating.
Here are a few:
- Check weather conditions before you depart – on TV, radio and by assessing your surroundings.
- Be prepared for any possibility by following a pre-departure checklist.
- Don’t drink and drive – boating under the influence is a criminal offence and carries steep penalties, just like driving under the influence. We have a number of articles that talk about driving under the influence. Make sure you read them here.
- Make sure you and everyone on board wears a proper fitting lifejacket.
Ready to get coverage for your boat?
Whether you own a boat now, or are buying a boat soon, contact us to learn more and get a quote.
The content on this page is for information only. The insurance products described are subject to terms, conditions, limitations and exclusions that are outlined in the policy wording. Please refer to the policy wording for complete details.