Summer only lasts so long, and you want to make the best of it! While unforgettable boat trips are definitely in your future, let’s make sure they are unforgettable for the right reasons!
Whether you’re on your fishing boat, sailboat, pontoon boat or cruiser, your safety is top priority. The same goes for your personal watercraft, ski boat or sport boat. Whatever your type of boat, take advantage of the expert advice of our Malouin Assurance brokers. So that pleasure is the only thing on your mind!
General Insurance | Boat insurance
Protection for all types of boats
No matter what type of boat you have, we recommend that you protect it with insurance that is adapted to your personal situation. This way, you will be fully covered, and you can enjoy your activities with peace of mind.
18-hour boating course
When talking with your Malouin broker, don’t hesitate to mention if you have taken a boating course of 18 hours or more given by the Maritime Institute.
Are you a good skipper?
Depending on which insurer you choose, you may benefit from a lower deductible if you have a good boating record and no damages to your boat.
A variety of insurance coverages
Talk to a broker now to find out which coverage is right for you.
The liability policy will cover any bodily injury and property damage caused to a third party in the event of an incident.
Keep in mind that if you are financing the purchase of your boat, your creditor will probably require liability insurance. They will also require that you insure the physical asset.
This policy protects your boat at a value agreed upon by both you and your insurer. There will be no depreciation in case of total loss of your boat.
«Value on the day of the loss»
Compensation is calculated based on the cost of repair or replacement, minus the depreciation on the object or part.
Theft, vandalism and fire
Would you prefer to purchase comprehensive insurance? This will cover incidents such as theft or vandalism. In any case, make sure you are aware of the exclusions in order to make an informed decision.
Before you decide whether to insure your boat through your homeowners insurance, check to see if your homeowners insurance covers collision. This is not always the case, and you may want to purchase boat insurance to ensure that you are well protected.
Equipment and accessories
Protect your equipment and accessories such as your trailer, motor, sonar and more. Following an accident, you will benefit from a settlement based on the replacement value. No deductible applies.
Loss of use guarantee
Is boat insurance mandatory?
In theory, boat insurance is not mandatory. However, it is a good idea to take out third- party liability insurance, as a minimum. Moreover, usually, in case of financing, the creditor will require it.
Is it better to purchase boat insurance than to add my boat to my home insurance?
Even if it is a vehicle, it is possible to cover your boat through your home insurance. However, take the time to understand what this means: it is mostly about civil liability coverage. Sometimes, fire, collision or theft may also be covered. But anything related to marine assistance or towing at sea, for example, will not be covered. Depending on your needs, you may want to purchase boat insurance. Depending of the level of horse power and boat length, you might have to get a separate insurance for your boat. Contact us to learn more!
I plan to make some modifications to my boat. What should I do?
For any changes you may be considering, you must first inform your insurance broker. This will ensure that you always have the right coverage for your boat. Plus, your insurance may in fact cover certain types of modifications!
Am I covered if I sail outside of Canada?
Typically, navigation is covered for inland and coastal waters (up to 100 nautical miles) of Canada and the United States between 52- and 40-degrees latitude north, which includes:
- Ottawa River,
- Lakes and rivers in Quebec and Ontario,
- St. Lawrence River,
- Inland waters of New Brunswick,
- Inland waters of Vermont, Maine, New Hampshire, Connecticut, Rhode Island up to New York (excluding the Hudson River and its harbor).
The West coast of Canada and the United States, west of 120 degrees longitude west, is also included. For other destinations, you may need to request an extension of the territorial limits of your insurance coverage.
Am I covered if I sail in Florida?
If you are sailing in Florida, you will need adequate insurance as “Canadian” insurance covers inland and coastal waters (up to 100 nautical miles) in Canada and the United States between 52- and 40-degrees latitude north.
The West coast of Canada and the United States, west of 120 degrees west longitude, is also included. For other destinations, you may need to request an extension of the territorial limits of your insurance coverage.
Don’t hesitate to contact a Malouin Assurance broker to ensure you are fully covered.
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