“Do I need boat insurance in Ontario?”
This boat insurance question is one we get asked often here at Huronia Insurance Group. And even though the answer is no (at present boat insurance in not required in Ontario), we strongly recommend that you do obtain boat insurance coverage.
Call Huronia for a Boat Insurance Quote
There are several key reasons to consider getting boat insurance:
- It helps protect you, your boat, and your passengers should you become involved in a boating accident
- Before you can store your boat at a marina you may be asked to provide proof of boat insurance
- When buying a new boat the finance company may request proof of insurance
Ontario is home to hundreds of fresh water lakes and rivers that are just waiting to be explored. Boat insurance should be thought of in the same way you would think about insurance for your car, truck, or motorhome. Accidents on the water do happen, and the water adds an added risk. Make sure you, your passengers, and your boat are adequately protected.
Powered Boats & Personal Watercraft Insurance
Whether you own a sailboat, a motor boat, an inflatable boat, a Jet-Ski or Seadoo, your boat insurance policy can also cover other items like boat motors, boat trailers, or your GPS system. Your Boat Insurance will also protect you from the following:
- Property Damage – Damage you cause to someone else’s boat or property.
- Damage to your boat – including theft or loss of attached equipment.
- Liability coverage – should a passenger be injured while aboard your boat or while being towed through the water.
What Influences Boat Insurance Prices?
There are some unique challenges when assessing how much boat insurance you may need. There are a number of things that can influence the price of boat insurance including:
- Size of boat
- Value of boat
- Value of trailer
- Value of accessories in boat
- Number of people boat can seat
- Where boat is used
- Size of boat motor
- Used for pleasure or water skiing
- Radius of lake travel
- Radius of land travel
- Distance of hauling to destination
Should I Insure My Paddle Boat, Kayak, or Canoe?
Some auto insurance and home insurance (or seasonal dwelling insurance) policies will provide limited insurance coverage for small boats and other types of non-powered watercraft worth less than $3,000 such as a canoe, kayak or inflatable boat. The only area not specifically addressed could be liability insurance.
Also, home insurance policies do not provide comprehensive marine coverage to cover things like salvaging costs. If your boat or other watercraft will need to be salvaged before it can be repaired, having the right marine boat insurance coverage may help you avoid having to pay for the boat recovery.
Generally, it can be most cost effective to insure a boat separately. You’ll get better coverage and your Ontario boat insurance could cost less. Ask your home insurance broker whether your specific form of watercraft is covered under your home policy and whether additional liability coverage may be required.
Enhanced Boat Insurance Coverage
Huronia can help you connect with Canadian boat insurance companies that offer enhanced boat coverage options with many value added benefits including:
- A “No Deductible” clause for not-at-fault claims
- Discounts for anti-theft devices and claims-free status
- Accidental death benefits coverage
- Liability coverage for boat related watersports
- Agreed value All-Risks coverage
- Companion pet insurance coverage
- Loss of use coverage
- Search and rescue plus medical coverage
- Enhanced limits for high-value boats
- Protection & Indemnity (from uninsured boaters, pollution, etc.)
All Boat Operators Need a Pleasure Craft Operators Card
To legally operate a boat in Canada the driver of the boat needs a Pleasure Craft Operators Card (PCOC). Driving a boat without the proper certification could VOID an insurance policy in the event of an accident or a liability claim.
About Huronia Insurance Group
For over 22 years, Huronia Insurance Group has been offering insurance services to residents of Southern Ontario including Barrie and the Greater Toronto area. We can help you with your home, personal, business, and auto insurance needs, including recreational vehcile insurance.
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