What is boat insurance?
Boat insurance, also called marine insurance, provides coverage for your own boat, as well as for 3rd party liability claims that may be charged against you for damage to property of others and/or for injury caused as a result of the operation of your boat.
Please note that boat insurance is required for any boats moored at most marinas or yacht clubs in B.C.
What can I get boat insurance coverage for?
Coverage can be provided for bodily injury and property damage to 3rd parties, including other boats and docks, damage to the boat itself, including the hull, sails and machinery, as well as the contents of the boat and the boat trailer.
Tip: Policies have different exclusions. Please read policy wordings carefully to avoid gaps in coverage. Common exclusions include wear and tear, mold, and failure to repair or maintain the vessel.
What types of information will I need to provide to get a boat insurance quote?
Information about the boat and motor, including the year, make, model, length and horsepower. Information about yourself and your driving record is also required.
What is the cost of insuring my boat?
As with all types of insurance, the cost of the policy will be determined by the type and value of the vessel, what it is used for, what coverage is required and many more factors.
Some boats can be added to your homeowner or condo owner insurance policy, while others require a stand-alone policy. A boat used for pleasure and a boat used for commercial purposes require different coverage and therefore premiums will vary.
What is a Marine Survey and do I require one before insuring my boat?
Depending on the age of your vessel, you may be required to have a Marine Survey done. While not necessary in many cases, many customers choose to have their boat inspected to ensure their safety and plan for future repairs and maintenance.