Boat and personal watercraft
The summer season passes quickly. Let's ensure it's unforgettable for all the right reasons! Boat and personal watercraft insurance protects you against accidents, big or small, and provides civil liability coverage.
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Talk to a broker 1-888-625-6846
Why is it important to have dedicated boat and personal watercraft insurance?
A boat or personal watercraft is a significant investment… and a pleasure you want to enjoy for a long time! Insurance protects you in the event of theft, fire, collision, or vandalism, while also covering your civil liability if an accident occurs on the water.
Standard coverage
Depending on the type of boat or personal watercraft you own and how you use it, standard coverage may be ideal for you.
Civil liability
This option provides coverage for property damage or bodily injury to third parties in the event of an accident involving your boat or personal watercraft.
Theft, fire, and vandalism
You can feel confident knowing that you are protected against risks such as theft, fire, or vandalism.
Additional coverage
Depending on your circumstances and risk tolerance, you can enhance your insurance coverage. Additional options are available to help you expand your coverage and create a tailored safety net.
Agreed value
This policy insures your watercraft for a value agreed upon by you and your insurer, ensuring no depreciation occurs in the event of a total loss of your boat or personal watercraft.
Value at the time of the loss
Compensation is calculated by taking the cost of repair or replacement and subtracting the depreciation of the item or part.
Theft, fire, and vandalism
Insurance protects you against theft, fire, and damage caused by vandalism.
Collision
Collisions are a primary cause of damage to boats. Please note that some home insurance policies may not provide this coverage. Dedicated boat and personal watercraft insurance ensures you are covered in the event of an impact.
Equipment and accessories
Safeguard your equipment and accessories, including your trailer, motor, sonar, and more. This way, if an accident occurs, you will receive a settlement based on the replacement value, and no deductible will apply.
Loss of use coverage
If you are unable to use your boat or personal watercraft due to an accident, we will provide a rental replacement up to the limit specified in your policy terms and conditions, ensuring you don’t miss out on the season!
FAQ
Answers to your questions!
Is boat insurance mandatory?
In theory, boat insurance isn’t mandatory. However, it’s smart to at least get liability insurance. In addition, lenders often require it when financing a boat.
Is it better to take out boat insurance rather than adding my boat to my home insurance?
You can include coverage for your boat under your home insurance policy, even though it is considered a vehicle. However, it’s important to understand what this coverage entails. Primarily, it will cover civil liability, and in some cases, protections against fire, collision, or theft may also be included. However, any maritime assistance or towing services at sea will not be covered. Depending on your needs, you might want to consider purchasing separate boat insurance.
If your boat’s engine exceeds a certain horsepower or if the boat is particularly lengthy, separate insurance coverage will be mandatory.
I plan to make some modifications to my boat. What should I do?
First and foremost, it is important to inform your insurance broker about your plans. This will ensure that you have the appropriate coverage for your boat. Additionally, your policy may already cover the modifications you want to make!
Am I covered if I sail outside Canada?
Sailing is typically covered for inland and coastal waters within Canada and the United States, specifically up to 100 nautical miles from the coast and between 52° and 40° north latitude. This includes:
- The Ottawa River
- Lakes and rivers connecting Quebec and Ontario
- The St. Lawrence River
- Inland waters of New Brunswick
- Inland waters of Vermont, Maine, New Hampshire, Connecticut, and Rhode Island, excluding the Hudson River and ports in New York
The west coast of Canada and the United States, west of the 120th degree of west longitude, is also covered. If you plan to sail to other destinations, you will likely need to request an extension of your insurance coverage’s territorial limits.
Am I covered if I sail in Florida?
If you plan to sail in Florida, you must purchase adequate insurance, as “Canadian” insurance typically only covers certain areas of Canada and the United States (see above). For Florida, it is necessary to request an extension of coverage.
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Get a quote
At Malouin Assurance, we believe that peace of mind starts with a quote. Our quoting process is simple, personalized, and always tailored to your specific needs.
Talk to a broker 1-888-625-6846
Partners
We work with the best suppliers
PMU Pacific Marine
Orbite
L’Unique
April Marine
