Whether you own a rowboat, bass boat, runabout or a cabin cruiser, coverage is available to protect your boat, motor, trailer and accessories. If you own a smaller boat under 25 feet in length, it can usually be insured on your property policy. Medium-size and larger boats over 25 feet should be insured on a specialized marine policy.
Marine policies offer greater flexibility as they allow you to choose the level of coverage you need. They also offer some extras at no additional cost including:
- loss of use coverage – for a temporary replacement if your boat is being repaired after a claim;
- contents coverage for your personal belongings;
- emergency towing if you are stranded on the water.
To operate a watercraft in Ontario, you must obtain a Pleasure Craft Operators Card and your automobile driving record is also reviewed. An unacceptable driving record can prevent coverage from being purchased.
Other types of watercraft insured on a property or marine policy are: canoes, sailboats, pedal-boats, row boats, kayaks, jet skis and wave runners. Marine policies can also accommodate houseboats and pontoons. Always remember to report any new watercraft purchases, as they must meet the policy qualifications and be listed in order to be covered.
There are many things to consider when insuring a boat. Contact us today to discuss your options, or to obtain a free, no-obligation quote.