Boat Insurance

Regardless if it’s an ocean vessel, lake or river boat, your coverages start with any physical damage, including fire, theft or vandalism. Then your marine protection further extends to third-party liability.

• Your coverage depends on boat size, the type of vessel you’ve purchased, how powerful the motor is, how you’ll use the boat and where it’ll be stored.
• Unlike other coverages, marine insurance is not automatic — it works on an application basis. We’ll consider your boating experience, any past claims, watercraft choice and if you’ve taken any boater’s education courses.
• Boats are often insured to the price you paid. Third-party valuation reports, appraisals or professional marine surveys can be used if you know your boat is worth more.
• A Pleasure Craft Operators Card (PCOC) is needed with an online test available if you want to own or operate a motorized pleasure craft (regardless of horsepower).
• Keep boat photographs when seeking insurance and retain updated images.

What does it include?

• You’ll purchase your marine insurance policy for a full year. Your policy covers your boat while it’s in the water or stored.
• Emergency towing back to safe harbour. Apply for loss of use and rent another boat — up to a policy limit — after an insured loss makes your boat inoperable.
• Boats — 15 years or older — typically require surveys every 5 years. Wooden boat? Our team requires one every three years. This keeps our experts informed of the condition and value of your boat.
• Your policy also covers personal items onboard that you wouldn’t sell with your boat, including clothing, dishes, gear for inclement weather etc.
• Through pet companion coverage, if something were to happen to your dog on your boat, you may be able to claim that expense under your marine insurance policy.

Specialty offshore policies for adventurers

We have a history of insuring boats worldwide — thanks to our insurance partnerships, we have specialty offshore policies for adventurers preparing for sailing voyages.

For these, we need advanced vetting and a separate application process — qualifications, experience and whether your boat is equipped for anything offshore use throws at you.

Know that if you’re sailing on open seas and wish to operate in tropical zones, we offer coverage for named windstorms — we will need to submit your hurricane plans for approval.

Available discounts are as follows

• If you haven’t had a claim in the last 5 years, call about a possible claims free discount.
• Ask your Western Coast advisor if you can save through your boating education. Are you a pilot by trade and have navigational skills? Savings may be available.
• Do you belong to a yacht club? — you might be discounted on your premium.