Boat Insurance Ontario | PWC Insurance Ontario

People love their boats and personal watercraft (PWC). Whether it’s a fishing trip at sunrise, a relaxing cruise across the lake, or a weekend spent exploring Ontario’s waterways, boating is one of the best ways to enjoy time on the water.

But boats and jet skis also come with real risks. Having the right insurance coverage helps protect your vessel, your passengers, and your investment. Specialized boat and personal watercraft insurance provides coverage designed specifically for recreational vessels, going beyond the limited protection sometimes included in a standard home insurance policy.

Ingagemarine.ca helps Ontario boaters learn about marine insurance and access online quotes for coverage designed for cruisers, runabouts, pontoon boats, fishing boats, sailboats, and personal watercraft.

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Boat Insurance FAQ

How much does boat insurance cost in Ontario?

Boat insurance premiums are determined by many factors such as type of boat, value, and claims history. Premiums can range from under $400 per year for a small aluminum fishing boat to thousands of dollars for a high-valued yacht. The insurance for a sport boat will be higher than for a runabout. Claims history isn’t just about the boat insurance claims of an individual. In recent years, the losses for large cruisers over 26 feet have increased so insurance companies have raised premiums. The best way to find out how much it will cost for your boat or jetski is to do an online quote. It only takes a minute! You can also read our blog post on How much does boat insurance cost in Ontario?

What are the navigational limits?

The navigational limits on the policy apply to where you can operate or trailer your vessel. Generally, insurance applies only when the Insured personal watercraft is located within the following navigation areas and land within these limits:

East Coast of Canada and U.S.A (east of 120 degrees of longitude west): Inland and coastal waters of Canada and United States between 40th and 52nd latitude North but no farther than 10 nautical miles offshore. Navigation south of Tappan Zee Bridge on the Hudson River in New York Harbor is excluded

West Coast of Canada and U.S.A (West of 120 degrees of longitude west): All Canadian Inland waters except the Fraser River above the junction of the Sumas River no further than 10 nautical miles offshore Costal waters within the area bounded by lines drawn between Cape Flattery (U.S.A.) and Owen Point (Canada) to the Southwest of Vancouver Island, Cape Sutil and Mexicana Point and Cape James and Allison Harbor to the Northwest of Vancouver Island no further than 10 nautical miles offshore.

Check your boat insurance policy for the navigational limits.

If you plan to travel outside of the Navigational Limits, additional coverage may be available. Contact your broker with details of your trip.

What is a marine survey and do I need one?

A marine survey is an appraisal of the boat performed by a qualified marine surveyor. It is an in-depth document containing information on the condition of the boat and an estimate of the current market value. A survey usually ends with the surveyor’s recommendations regarding repairs or safety issues. A survey can cost upwards of $250 or higher. It should not be confused with a marina letter that is typically one page long and costs very little.

Surveys are generally required on vessels that are 30 years of age or older. Insurance companies may accept surveys that have been done within the last 2 years for new clients. After that, a survey will be needed every 5 years.. The insurance company will want to review the survey before providing a firm quote or an insurance policy. Any serious recommendations will have to be completed before insuring the boat. Less serious recommendations can be completed after the policy is issued.

If you are looking at purchasing an old boat, request a survey from the seller. If there is a recent survey, have the seller go through all of the recommendations to see which ones have been taken care of. If the seller has not completed the recommendations, then you will have to complete them. If you purchase the boat without a survey, you run the risk of purchasing an uninsurable boat with huge repair bills.

From the Boating Blog: What is a Marine Survey? | Find a Marine Surveyor in Ontario

Who can operate my boat or jetski?

Anyone can operate your boat or jetski as long as certain conditions are met.

• The operator must be of legal age to operate the boat. According to Transport Canada, an operator under the age of 12 can operate a boat up to 10HP with no direct supervision. An operator between 12 and 16 can operate a boat up to 40HP with no direct supervision. No one under the age of 16 can operate a personal watercraft, regardless of horsepower or supervision. Direct supervision means a person 16 years of age or older is in the boat and directly supervising the operator.
• The operator must hold a valid boaters licence (Pleasurecraft Operator Card).
• The operator must have permission from the owner to operate the boat.
• A boat insurance policy covers pleasure use only. If you are receiving money for the use of your boat such as renting it out, there is no coverage. This is considered commercial use.
• Other restrictions may apply such as increased deductibles for operators not listed on the policy.

Do I have coverage for rodents or vermin?

You pull your boat out of storage in the spring and discover that a family of raccoons have torn up the seats and made themselves a home in the winter. Most boat insurance policies will cover damage to your boat from rodents and vermin. Check your policy to make sure.

Do I have coverage when towing my boat?

The physical damage to your boat and trailer is covered under your boat insurance policy. The liability coverage is covered under your auto insurance policy. For example, if someone rear-ended you and damaged the boat and/or trailer, this would be covered under your boat insurance policy. If the trailer disconnected from your vehicle and damaged a third party vehicle, your auto insurance policy would respond.

The Boating Blog