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Pleasurecraft Boats

Our cornerstone product has allowed us to become one of Canada’s largest providers of pleasurecraft insurance. For over twenty years, Beacon has offered All Risk coverage on an Agreed Value basis that is very competitively priced, and for the widest range of vessels imaginable. From wooden hulls to personal watercraft, houseboats to river boats, we can provide coverage for a broad spectrum of vessels across Canada.

All Risk, Agreed Value policy

  • Rental Expense coverage is included
  • Emergency Towing is included
  • Extra Expense coverage is included
  • Underinsured Boater Protection
  • No sub-limits for water skiing, wakeboarding, tubing, etc.

Up to $5,000,000 Protection and Indemnity (liability) coverage is available

Our Pleasurecraft product is available on the portal! Quote, bind and issue on-demand here .

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It can be a challenge to find the right type of coverage you need on your own. That’s why we have over 2,000 broker relationships across Canada. Insurance brokers are highly skilled in assessing your insurance needs and offer the right coverage for your situation and budget. Call a broker today to talk about your needs and get a quote.

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Get your instant Boat Insurance quote online today. It’s not cheap boat insurance, it’s affordable! We provide coverage from reliable marine Underwriters and boat insurance companies. Click “ Quote & Buy Now ” to start your pleasurecraft insurance application.

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Protection & Indemnity (P&I)

Purchase your insurance coverage online for Protection & Indemnity - the most important aspect of protecting you your marine vessel.

Your Pleasurecraft Liability

We offer standard liability insurance for your boat; however, you may also get a quote for the potential pollution risk that operating your boat entails.

Physical Damage to Vessel

Insurance for any damage that could occur to your vessel itself or its motor, sails, and more can be included with your boat insurance policy.

Your Towing Trailer

Even cover your towing trailer used to move your vessel from your home to the lake, or one location to another. If you don't need that, no problem!

Learn more about Boat / Pleasurecraft Insurance

What is covered by boat insurance.

Our Boat Insurance package covers your vessel up to its determined value (hull & machinery) as well as providing liability (protection & indemnity) in the event you are liable for a third party loss. We also offer up to $1,000,000 pollution liability for your watercraft.

Eligible vessels include:

  • High Performance Boats
  • Water-Ski Boats
  • Small Runabouts
  • All Types of Recreational Fishing Boats
  • Pontoon Boats
  • Power Cruisers
  • Jet Drive Boats
  • Large Yachts (up to $50,000,000)

Why do I need insurance for my boat or pleasurecraft?

Being in your boat out on the water can be some of the most relaxing and fun times had – don’t risk the loss of your investment by having no insurance coverage. Not only does our policy package cover your vessel, but your liability while operating it as well.

How much does Boat Insurance cost?

The cost of your personal watercraft insurance will depend on certain variables including the vessel value, age, type, and limits of coverage requested. We are able to offer terms with competitive premiums for this coverage.

Please note that completing our application for insurance does not cost anything or require you to proceed with the coverage once a quote is provided – customer service is our first priority.

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HUB Insurance - Boat Insurance & Marine Insurance Department

The Right Marine & Boat Insurance For Life On The Water

Boat insurance and marine insurance for british columbia, canada.

For Business or Pleasure, HUB Has You Covered

Pleasurecraft Marine Insurance

Commercial marine insurance.

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  • Automatic escalation clause
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  • Third-party vessels
  • Errors & omissions causing financial losses
  • General liability for bodily injury
  • Third-party property damage
  • Coverage of offices & buildings
  • Coverage of contents & equipment

Our commercial marine insurance covers boat manufacturers and dealers

  • Floating property
  • Hull & machinery
  • Liability coverage
  • Lift liability

Our commercial marine insurance covers yacht clubs and marinas

  • Damage to vessels
  • Traveling workman coverage
  • Protection & indemnity coverage
  • Legal liability

Our commercial marine insurance covers ship repairers and specialty marine

Hi, We’re HUB.

Your HUB Marine Insurance Team

We are part of Canadian Safe Boating Council

Beverly Carlson

Senior Account Manager

Michaela Kuehn - Senior Account Manager for Boat Insurance & Marine Insurance - Pleasure Use & Commercial Use

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Killian Heraughty - Account Executive for Boat Insurance & Marine Insurance - Pleasure Use & Commercial Use

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Account Executive

Jakub Pustol - Insurance Advisor for Boat Insurance & Marine Insurance - Pleasure Use & Commercial Use

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Insurance Advisor

Michael McCray - Insurance Advisor for Boat Insurance & Marine Insurance - Pleasure Use & Commercial Use

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Our boat insurance & marine insurance advantage.

We have multiple underwriters for our boat insurance and marine insurance

Multiple Underwriters

With multiple underwriters, HUB will find you the best value insurance to save you money, while protecting your investment.

Our boat insurance and marine insurance can offer you different levels of coverages

Variety of Coverages

We offer a variety of service levels, providing you with choice to select right insurance for your marine needs.

If you have our boat insurance or marine insurance, our claim service is standby 24/7 for you

24/7 Claim Service

HUB is here to assist you with your emergencies, at any time, with a 24/7 claims number.

Get boat insurance and marine insurance help from our experienced staff

Experienced Staff

Our team has well over 50 years of industry experience and can provide you with the seamless service you deserve.

Float Home Coverage by HUB Boat & Marine Insurance

Float Home Coverage

HUB can provide excellent coverage for your float home.

Our boat insurance and marine insurance can cover you living aboard your marine vessel.

Liveaboard and Contents Coverage

HUB has partnered with the right Underwriters to provide you with the coverage you need for you to live aboard, with the knowledge that your boat and contents are protected.

Our boat insurance and marine insurance cover older Boats & boathouses

Older Boats & Boathouses Coverage

Finding coverage for your older boat can be tricky, but you can rely on HUB’s expert team to find you the protection you need.

Auto, Home, Commercial Insurance

Auto, Home, Commercial Insurance

HUB International provides coverage for your car, house and business, so you can keep all your risk management under one roof.

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Questions About Our Marine Insurance?

Frequently Asked Questions

Whether it’s commercial or personal marine insurance you are looking for, our HUB advisors are here to ensure you’re ready for tomorrow. Our vast global resources and solid local relationships will ensure you receive the best coverage, best value and best service. We are dedicated to helping you protect what matters most by providing the best possible solution tailored to your specific needs.

For Personal Marine

For yacht club & marina operators, for ship repairers, what level of liability insurance do you require.

Most marinas will require you to carry at least $1 Million in Liability Insurance. However, to be properly protected within the scope of the Marine Liability Act, you need to carry a minimum of $2 Million in coverage.

What is a Marine Survey and why is it important?

Depending on the age of your vessel, you may be required to have a Marine Survey done. The surveyor will need to be approved by Underwriters or a member of SAMS (Society of Accredited Marine Surveyors) or NAMS (National Accredited Marine Surveyors).

Are different kinds of vessel materials more expensive to insure?

Wood vessels are more expensive to insure than fibreglass vessels.

What is claim service and why is it important?

Most claims happen outside of office hours. Does your broker have 24 hour claim service? Do they have the actual knowledge to assist you with appointing a Surveyor, Lawyer, Salvage Team and other experts you may need on the weekend?

What should you pay special attention to in reviewing your policy?

Not all insurance policies are the same. It is not always about price, but what you get for that price. Two aspects you want to look at closely when shopping around are: the exclusions of the policy and how a loss is settled. At HUB International, our Lifeline policy is an agreed value policy. That means we will not depreciate your vessel in the event of a total loss. All partial loss claims are settled on a new for old basis, again meaning no depreciation (not even on Sails, Canvas, Upholstery, or Rigging). Our Lifeline policies have fewer exclusions than most other policies.

What is limit of insurance?

The limit of insurance you purchase on your boat needs to include items such as taxes, duty, freight and additional equipment installed. Those values may not be included in the initial price of your boat. The limit also needs to reflect the furnishing and equipment, which would include kitchen items, safety gear, bedding, and anything else that is part of the running or operation of your vessel.

Does how damage is caused make a difference?

There is a difference between resulting damage due to Latent Defect and wear and tear. Our policies cover both. Many other policies available will only cover Latent Defect. Latent defects are inherent weaknesses which normally are not detected by examination or routine tests, but which were present at the time of manufacture and are aggravated by use. Our policy will cover resulting damage when the damage results from faulty designs, faulty workmanship, the installation or use of improper or defective materials, wear and tear, gradual deterioration or corrosion provided the defect or condition would not have been detected through a reasonable prior inspection.

What is Replacement Cost, Agreed Value and Actual Cash Value?

The difference between Replacement Cost, Agreed Value and Actual Cash Value. Do you REALLY know what you are insured for? Replacement Cost: In the event of a total loss, your Underwriters would replace the boat with a similar current model year, despite the limits shown on the policy. In the event of Partial Loss, repairs will be done a new for old basis without deduction. Agreed Value: In the event of a total loss, you would be pay out what you are insured for on your policy coverage page with no deduction for depreciation. In the event of Partial Loss, repairs will be done a new for old basis without deduction. Depreciated Value: Applying full depreciation to your vessel may result in you not being paid out the full amount you are insured for. Partial losses would also be depreciated on all parts and labour.

Is it really required?

The misconception is that if you own or operate a marina, you automatically require Marina Operators Liability. Yet this is not true in all cases. Step one is to identify your risk exposure. If your Marina offers any of the following, you do indeed require Marina Operators Liability:

  • Lifting, hoisting or hauling of vessels out of water;
  • Provide land storage;
  • Operating ways;
  • Repairing or service work; OR
  • Incidental repair or maintenance.

What do I need if I don't offer any of the above?

The answer is an important follow-up question: Do you have Care, Custody & Control of your customers’ vessels?

What is Care, Custody & Control? And what does it mean to be a Bailee for Reward?

If you have Care, Custody & Control of a client’s vessel and you are being paid for your Marina services, you are acting as a Bailee for Reward. That makes you legally liable for any damage to the vessel resulting from your negligence. If vessels are left with you—whether in your yard, building, ways or travel lift—you again have Care, Custody and Control. The same applies if you provide pick up and/or deliver your client’s vessel.

What is it? And what does it mean to be a Bailee for Reward?

Who needs to consider purchasing it, what does it cover, what is the “discovery clause”, what is the traveling workman endorsement, what is detention endorsement.

No Matter Where You Are, HUB Has You Covered

We Offer Boat Insurnace and Marine Insurance Throughout British Columbia, Canada

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Let's Get You Covered

Request a quote.

Need more information on our marine insurance solutions? Contact us to speak with a member of our team. We are here to answer any questions you may have and help you find the right coverage for you.

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Manage All Your Risk Under One Umbrella

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Boats & Personal Watercraft Insurance

Protection on and off the water.

From small runabouts to cruisers and sailboats, we have you covered

Cowan Insurance Group offers one of the largest, most comprehensive and well recognized boat and pleasure craft insurance programs in Canada, with coverage for boat owners in all Provinces.

If you own one of the over 8 million estimated boats in Canada, you understand both the joys and responsibilities that come from boat ownership. Boats often represent a significant expense and while boat and personal watercraft insurance isn’t legally required in Canada, there are many reasons why it makes sense.

The proper insurance coverage can protect you from the following:

  • Liability coverage for injury to passengers including water skiers or tubers being towed by you
  • Liability coverage for injury to others in the water, or aboard other watercraft
  • Theft or damage including loss of attached equipment
  • Damage caused by your boat on someone else’s property

While smaller non-motorized watercraft may be covered under your home or cottage insurance, larger and motorized watercraft often require specialized coverage. We insure a variety of boats, including small runabouts, trawlers, jet boats, pontoons, sailboats, cruisers, high-performance boats, yachts, and more.

Additional benefits of getting your boat insurance with Cowan:

  • Membership discounts for Canadian Power & Sail Squadrons (CPS-ECP)
  • Flexible survey requirements
  • Agreed Value
  • Replacement cost on boats up to three years of age
  • Coverage available for Southern cruise
  • Not at fault – no deductible clause

Our team of knowledgeable and experienced advisors will help you find the right coverage that sets you on course to enjoy your watercraft, without worry.

Membership discounts for Canadian Power & Sail Squadrons (CPS-ECP)

Canadian Power and Sail Squadrons (CPS-ECP) is a non-profit organization of recreational boaters with over 20,000 active members. Cowan is proud to be one of the most recognized marine pleasure craft insurance providers in Canada. We have partnered with CPS-ECP to provide exclusive coverage to its members.

Canadian Power & Sail Squadrons (CPS-ECP) (External link)

Why partner with Cowan Insurance Group?

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Expert Advice

Someone who specializes in personal insurance will call you directly. Our expert advice means you will speak to the right person the first time.

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Custom Coverage

Custom coverage specifically built for you means that Cowan will take the time to learn about your insurance needs.

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Our Promise

Cowan is Canadian owned and independent. Your satisfaction is the only outcome we accept. Our clients are at the heart of everything we do and we care about what you care about.

Are you insured for your next trip?

Learn how Travel Insurance can protect you if the unthinkable happens while you are out of the country. Whether your baggage is lost, your flights are delayed or you are in need of emergency medical assistance, our Travel Insurance has you covered.

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Personal Vehicle Insurance

Protect yourself and your loved ones by purchasing auto insurance through Cowan. As an independent broker we work for you, and will find the best coverage to meet your needs.

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Home & Property Insurance

Whether you rent or own, your home and belongings likely represents your most significant investment. You need to be confident that your home and contents are fully covered by your insurance plan.

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Expect more with Cowan Private Client

Cowan Private Client offers a personalized experience for individuals and their families. We provide solutions and expertise for the protection of physical and financial assets.

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  • About RecProtect

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Boat Insurance in Canada

Discover the joy of boating alongside your friends and family, as you travel Canada’s renowned bodies of water. Experience the serenity of the open water as you uncover remote islands, secluded beaches, and untouched nature reserves. Ensure that your journey is protected every step of the way by making boat insurance an integral part of your boating adventure. Trust RecProtect to provide comprehensive coverage and exceptional customer service to safeguard your vessel, and provide you with peace of mind while on the water.

Free Boat Insurance Quote

The Best Boat Insurance Broker in Canada

RecProtect is a reputable insurance broker specializing in recreation insurance for trailers and boats across Ontario , Alberta , British Columbia , Saskatchewan and Manitoba. We are committed on delivering transparent and comprehensive information about our policies and a streamlined claim process. With RecProtect, you can expect personalized insurance coverage tailored to your specific boat type, providing the necessary protection while eliminating unnecessary expenses. Our mission is to simplify recreational coverage, and our innovative approach allows us to offer real-time quotes, providing you with a customized estimate in less than a minute.

Why Choose RecProtect Insurance for Your Boat

Do you need boat insurance in Ontario or across Canada? Choosing an insurance broker should be a well-considered decision, and RecProtect emerges as the optimal choice for several compelling reasons:

  • Having extensive expertise in the recreational insurance industry, we specialize in providing tailored coverage that meets your unique requirements.
  • With a commitment to staying ahead in the competition and combined with our steadfast dedication to competitive pricing, we guarantee that you will get an exceptional value for your watercraft investment.
  • Our honesty and dependability form the bedrock of our business as we aim to establish long-lasting relationships built on trustworthiness.
  • By offering a diverse range of insurance options, we deliver customized and flexible coverage to suit the specific conditions of your boat.
  • We have a dedicated customer service team that is readily available to provide exceptional support at every step of the process, whether it’s for helping you find the right coverage or processing a claim.
  • Additionally, our user-friendly online quote system makes obtaining a quote effortless and convenient.

When it comes to selecting a boat insurance broker, RecProtect is the undeniable choice for exceptional service, unmatched expertise, and bringing you peace of mind. We are your trusted boat insurance brokers in Ontario , Alberta , BC , Saskatchewan, and Manitoba.

Comprehensive Boat Insurance in Canada

Collision coverage.

  • Covers damages from collisions with other boats
  • Provides coverage for damages caused by collisions with docks and buoys
  • Includes insurance for damages resulting from collisions with other object

Comprehensive Coverage

  • Provides boat coverage for theft of your boat
  • Protects your boat against intentional vandalism
  • Insurance for damage caused by extreme weather events

Liability Coverage

  • Coverage for injuries caused to others while operating your boat
  • Coverage for property damage caused to others while operating your boat
  • Pays for medical expenses, lost wages, and other damages

Loss of Use Coverage

  • Covers the cost of renting a temporary replacement boat
  • Coverage for alternative transportation expenses
  • Reimburses you for additional expense including accommodations and meals

Medical Payments

  • Covers the medical expenses resulting from bodily injury caused while operating the boat
  • Coverage for expenses not covered by other health plans or medical insurance
  • Ambulance transportation is included in the cost

Personal Effects/Equipment Coverage

  • Coverage for personal items on your boat
  • Protection for fishing gear, electronics, and equipment
  • The maximum coverage per item is $500

Salvage Coverage

  • Coverage for boat removal expenses
  • Potential coverage for boat repairs after salvage
  • Potential coverage for cleanup and restoration after salvage

Emergency Towing and Assistance

  • Covers the cost for emergency towing your boat
  • Pays for fuel and delivery
  • Roadside assistance services

Boat Insurance Coverage Across Provinces

As Canadians, we have access to all sorts of different bodies of water. From the Great Lakes to the unlimited smaller bodies of water, these provinces provide plenty of opportunities for adventure, relaxation, and entertainment on the water. It’s also an ideal opportunity to ensure that we have the right insurance for our boat before heading out on our boating excursions to protect our watercraft from dangers that could happen when navigating unfamiliar waters, unpredictable weather, or unforeseen accidents. At Recprotect, we understand the importance of safeguarding you and your boat, and offer comprehensive coverage in these provinces:

  • British Columbia
  • Saskatchewan

Frequently Asked Questions about Canadian Boat Insurance

If you own a recreational boat or personal watercraft in Canada, you are not legally obligated to have boat insurance. While there is no specific legislation that enforces insurance for recreational boating, it is still strongly recommended to get insurance for your boat to protect you from any potential financial losses and liabilities you might encounter.

Depending on the boat you own and the type of boating equipment you have, most insurance costs for a recreational boat range from $300 to $500 annually.

Having someone else drive your boat is allowed as long as they meet the following requirements:

  • They must be at least 20 years old
  • Have Pleasure Craft Operator Card
  • Have no claims within 3 years
  • Have 3 years of boating experience

If you are planning to take you boat across the border you will only be covered if your boat is in fresh water and above the 40th parallel or 40 degrees north of the Earth’s equator.

The current recreational boats and watercraft that we provide coverage for include:

  • Bowrider Boats
  • Cabin Cruiser Boats
  • Fishing Boats
  • Pontoon Boats
  • Runabout Boats
  • Wake Board Boats
  • Personal Watercraft (PWC)
  • Jet Skis and Sea-Doos

In the event of a collision or unfortunate accident, the first thing you should do is make sure that you and everyone involved is safe. Next, try to collect as much details as possible including taking pictures and gathering contact information from all parties involve. Afterwards, contact RecProtect by visiting our claims page here .

Get a Free Quote

Boat insurance quotes in Ontario , Alberta , British Columbia , Saskatchewan, and Manitoba.

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Pleasure craft, cruising, racing and power boats - we provide specialised insurance services, with risk management as one of the key points of focus. We can also provide solutions for hard to place coverage like antique and classic wooden boats, Caribbean cruising, year-round live aboard and more.

For over 60 years, Gallagher Skippers’ Plan has been providing boat owners with the insurance coverage they need for the peace of mind they deserve. What makes our team unique is not only our professional expertise from years of experience, but the fact that we share your passion for being on the water.

Gallagher Skippers' Plan can provide you with insurance coverage for:

  • Cuddy Cruisers
  • Pontoon Boats
  • Personal Watercrafts
  • Antique and Classic Boats

We provide the most coverage options for boat owners like you, which include:

  • Agreed Hull Value
  • Protection and Indemnity Liability
  • Medical Payments
  • Accident Benefits
  • All Season Coverage
  • Personal Effects
  • Land Transport Protection
  • Wreck Removal and Salvage
  • $5000 Emergency Towing Coverage – no deductible

Gallagher is one of the leading marine insurance brokers in the world and our clients will benefit from the enhanced line of products now available.

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sailboat insurance canada

Boat Insurance Guide 2023: Costs, Coverage & Policies

Boat sailing in the waters of British Columbia, fully protected with boat insurance offered by InsureBC.

Boat insurance is a must for anyone who owns a boat. It protects your investment and gives you peace of mind. Boat insurance can be expensive, but there are ways to reduce the cost. In this guide, we will discuss the different types of coverage available, how much boat insurance costs, and ways to save money on your policy.

Boat Insurance Explained?

Many people enjoy spending time on the water, whether it’s for fishing, swimming, or just cruising around. If you’re one of those people and you own a boat, it’s important to make sure you have the right insurance coverage in place.

Boat insurance is designed to protect you from financial losses due to damage to your boat, theft, or accidents. It can also provide liability coverage if someone is injured while on your boat. While your home insurance policy may provide some coverage for your boat, it’s usually not enough. That’s why it’s important to get a separate policy that specifically covers your boat.

How much does boat insurance cost and what factors influence the price?

The cost of boat insurance varies depending on a number of factors, including

  • the price of your boat
  • the type of insurance you purchase
  • the amount of liability coverage you select.

In general, the higher your boat’s price, the greater your insurance premium will be. Additionally, if you choose to purchase a policy with limited liability coverage, you can expect to pay less than if you select a policy with full coverage.

The best way to figure out how much your premium will cost is to start an online quote for boat insurance and choose your coverage options.

Types of Boat Insurance Coverage

When it comes to insurance, there’s no one-size-fits-all solution. The type of insurance you need will depend on a number of factors, including the type of boat you own, how often you use it, and where you keep it docked. However, below are some basic types of coverage that all boat owners should consider:

  • All Risks – Hull & Machinery
  • Agreed Value (current market value basis) which means the amount of coverage is agreed to at the beginning of the policy, and that amount will be paid out in the event of a total loss
  • Personal Effects Coverage (replacement cost basis)
  • Newly acquired vessel coverage
  • No sub-limits on wakeboarding, water skiing, and tubing
  • Sudden & Accidental Pollution (no sub-limit)
  • Additional Expenses including Rental Expense, Extra Expenses, Emergency Towing, and Fire Department Charges

Tips for reducing your boat insurance premiums?

Shopping for boat insurance can be a daunting task. There are so many different companies and coverage options to choose from, and it can be difficult to know where to start. However, there are a few things you can do to help reduce your premiums.

  • Type of boat: Insurance companies often offer discounts for certain types of boats, so it pays to do your research.
  • Compare Insurers: You may be surprised at how much rates can vary from one insurer to the next. So, it’s important to compare rates before you purchase a policy.
  • Ask for discounts: Many insurers offer discounts like taking a boating safety course or installing certain security features on your boat.

By following these tips, you can help ensure that you get the best possible rate on your boat insurance.

Learn about InsureBC's boat insurance and get a free quote today.

The program at InsureBC offers protection and indemnity up to $10 Million, which means that in addition to paying for damage you may cause to other boats and properties, it provides coverage for legal costs, wreck removal, salvage fees, and pollution damage caused by the boat.

We provide coverage as long as the insured property is operated within Canada and the Continental USA, limited to a 1500-mile radius of your address provided and with respect to:

  • Coastal waters of British Columbia, not North of Skagway, Alaska (60 degrees North Latitude), and not South of Westport, Washington (47 degrees North Latitude), in any event not exceeding 200 miles offshore, OR
  • Coastal waters of Eastern Canada, not North of Henley Harbour, Labrador (52 degrees North Latitude), and not South of Gloucester, Massachusetts (42.5 degrees North Latitude), in any event not exceeding 200 miles offshore.

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sailboat insurance canada

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A popular and fun summertime activity is boating, even though in most provinces you only use your boat for a few months out of the year, it is still important to have it insured all year round.

Boating is a popular pastime in Ontario, especially in cottage country with the many lakes and small towns to visit and explore! In Ontario, the waterways alone are made up of 250,000 lakes, rivers, canals and bays, providing boaters with the best freshwater cruising and experience of a lifetime! Ontario has one-fifth of the worlds fresh water at its doorstep, making boating and other water activities incredibly popular, allowing you to get out and experience nature and have fun!

No two boats are alike so make sure you speak with one of our Advisors to get the best advice.  We'll provide you up to 10+ quotes from Canada's top boat insurance providers, getting you the coverage you need, for the best price possible.

Boat Insurance FAQs

Why is boat insurance important.

Boat insurance covers you in the event of a loss or damage to your watercraft. It covers most watercraft with motors, including fishing boats, paddle boats, leisure crafts, even yachts (for you high rollers!). For smaller boats, you may find some limited coverage under your homeowner's policy, so it's best to chat with your Surex Advisor about what you're covered for and what you need to add to your policy when you buy a boat.

Do I need boat insurance in Ontario?

Ontario does not have a law that requires you to carry insurance on your boat or power watercraft. There might be a time when you have no choice but to purchase insurance. However, marinas in Ontario will require proof of boat insurance before they will allow you to use the marina or store your boat on their property so always best to be covered. 

What insurance does a boat need?

The amount of boat insurance you will need depends on a number of factors such as the value of the boat, the motor size, the age and how you use it (speed boat vs a pleasure cruiser). For example, if you bought a new high-performance speed boat, you will need more coverage for bodily injury and property damage liability than you would if you had a pleasure cruiser.

How much is boat insurance per year?

The general rule when it comes to figuring out the average boat insurance prices is that you'll pay about 1.5% of the value of your boat in annual rates. So, to insure a boat worth around $50,000, it would cost you only about $750 per year to have it fully insured. Typically it will cost $200-$500 per year.

What information should I have when getting boat insurance in Ontario?

This is similar to the information you would give out when getting auto insurance, here is the information you would need to provide:

  • The length, type and value of your boat
  • The condition of the boat and the market value
  • How often the boat is used, what it is used for and where you store it
  • The waters you take the boat out on and if you ever charter your boat
  • The experience, loss and claims history of the owners and/or operators
  • Any clubs the owners are members of (Sail Canada, or Canadian Power and Sail Squadrons)

Who has the best boat insurance rates in Ontario?

It's best to shop around and compare, and that's exactly what we do for you at Surex! We work with the top insurance companies in Canada to provide you with the best rates for your situation. We can find the right boat insurance in Ontario for you!

  • The Great Lakes
  • The 30,000 Islands- Georgian Bay
  • The 1000 Islands- St. Lawrence River
  • Lake Ontario
  • Lake of the Woods
  • Lake St. Clair
  • Harbour West Marina
  • La Salle Park Marina
  • Newport Yacht Club

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Portside Insurance

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Your provider of carefree boating.

Fill in these few details to help us get started on a quote for you.

  • Name * First Last
  • Your province *
  • Your boat's year *
  • Your boats make and model *
  • Type of boat * Unknown Sailboat Cuddy Cruiser Express Cruiser Fishing Ski Jet Bass Runabout Pontoon Deck Personal watercraft (PWC)
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Among the Best Boat Insurance Quotes in Canada

You work hard to ensure your watercraft is kept in pristine condition, enjoying your carefree summers riding around on crystal-clear lakes and rivers, and creating memories for years to come. However, any boat owner knows that despite their best efforts, sometimes issues can arise and land their vessel in a state of repair.

 Although it is not mandatory in Canada, boat insurance provides peace of mind in those situations, protecting yourself and your investment. 

Boat insurance ensures that you are covered in the event of unforeseen circumstances. This means that you won’t be paying hefty prices out of your own pocket. If you are considering getting this type of protection for your vessel, quotes are readily available online and can help when you are shopping around for the best policy. 

At Portside Insurance, we have decades of experience when it comes to insuring watercraft of all kinds. Our policies are thorough, covering all aspects of your boating needs. Our agents in Ottawa are available if you would like a more personalized quote as well. We are open Monday to Friday from 8:30 a.m. to 7:30 p.m., as well as Saturdays from April 1st to September 30th from 12 p.m. to 6 p.m.

Boat Insurance Claims

With a reliable insurer, filing claims for your vessel should be a seamless experience, one where all of your questions and concerns can be readily answered. Repairs should be performed promptly and effectively, allowing you to get back out on the water as soon as possible.

 At Portside Insurance, we will work with you to ensure that solutions, such as finding specialized parts, are possible in the first place, and we’ll keep you updated every step of the way. We recognize that accidents can happen for all kinds of reasons; perhaps you hit a rock while exploring a new area and bent your prop, for instance, or maybe you were unable to stop while docking and damaged your hull. 

Winterizing is an essential part of boat ownership, but what happens if a pest moves in and destroys your navigation system in the process? We’re here to help, regardless of the issue at hand with your vessel.

When signing up for a policy with us, we provide a complete list of incidents that might lead you to make a claim to ensure you, as the policyholder, are informed. Even if your watercraft sustains damage and you are unsure about your coverage, our brokers are happy to discuss what happened and advise you on the capacity of your insurance. We never want our clients to feel like they are stuck in the water without support. 

Types of Boat Insurance Available

Summer fun can come in many different forms. Whether you enjoy zipping around on your Seadoo, exploring the fishing waters in a bass boat or captaining a yacht, Portside Insurance has a policy for you. As experts in this field, it is vital that we provide many different options for watercraft enthusiasts. 

Each of our policies is tailored to your specific vessel, taking into account unique parts and services that other insurers may not be aware of. 

Our plans cover plenty of aspects that are important to you including brand-new replacement parts, emergency towing assistance, and even agreed value coverage to protect against depreciation on your investment should it need to be fully replaced. 

Explore our online boat insurance quote tool so you can better understand how we can protect you from expensive out-of-pocket problems. If you are unsure whether your watercraft can be covered under a policy, reach out to us . We’d be happy to work with you and see what we can do.

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Sailboat Insurance: The Best Options By Far

Sailboat Insurance: The Best Options By Far | Life of Sailing

Last Updated by

Daniel Wade

January 26, 2024

Whether you own a yacht, speedboat, or fishing boat, it certainly didn't come cheap. So it's crucial to find the best sailboat insurance that will come to your rescue if something does happen.

Just like your home or car, your boat is probably one of your most prized assets and needs the right insurance as well. Even though boats are widely known for providing their owners with great recreation and adventure, they come with various types of risks. Whether it's an accident, fire, theft, or damage, these are just some of the disasters that can come your way and that can come your way. And even if boat insurance is not a must in your state or area, having your boat properly insured will keep your head above the water and prevent you from sinking. You, therefore, should understand how to protect your sailboat, yourself, and your passengers.

Boat insurance is essential in covering you in case of a loss of damage to your sailboat. It generally covers most types of watercraft including yachts, speedboats, pontoon boats, fishing boats, leisure crafts, paddle boats, and many more. Boat insurance will cover you from various things including collision damage, bodily injury liability, property damage liability, comprehensive coverage, and other additional coverage options.

The fact that sailboat insurance is widely available can make it quite overwhelming when looking for the right boat insurance for you. But to make it a lot easier for you, we've dug deep into the boat insurance industry and highlight the best sailboat insurance options to go for.

Table of contents

How to Find the Best Sailboat Insurance Coverage for You

There are a few things to consider when looking for the best boat insurance coverage for you.

What Does the Boat Insurance Cover?

It's of great importance to know what will be covered by your preferred boat insurance company before taking your boat out on the water. Needless to say, insurance policies and contracts are always very complex, so taking your time and understanding everything is essential. To give you a head start, here are a few things that your boat insurance should cover.

  • ‍ Damage to the boat or permanently attached equipment such as anchors
  • Damage arising from fire, theft, vandalism, collision, and lightning
  • Property damage liability, which is essentially the damage that your boat causes to someone else's property
  • Bodily injury liability, which revolves around the expenses incurred when someone gets injured on your boat or by your boat
  • Medical payments for expenses incurred by you and your passengers in the event of an accident
  • Guest passenger liability, which revolves around the legal expenses incurred when something happens if another person was using the boat with your permission
  • Mechanical Breakdown coverage, which pays for the repair of any part of the boat as long as it's not caused by wear and tear

Some of the things that are not included in the insurance include:

  • ‍ Normal wear and tear
  • Damage caused by sharks or other creatures
  • Defective machinery
  • Damage caused by mold and insects

Types of Boat Insurance Policy

It's essential to know the type of boat insurance policy that you want. The two common options include:

Agreed Value - This is the amount that is agreed between you as the boat owner and the insurance company. This boat insurance tends to be more expensive since your boat's depreciation isn't taken into consideration. So in case of an accident, the insurer can even end up paying more than the current value of the boat.

Actual Cash Value - This revolves around the insurer paying up to the current actual value of the boat if anything happens. These premiums tend to be lower since the insurer will calculate the depreciation value and pay depending on the actual value of the boat.

Important Things to Know

Here are some important things to know as far as boat insurance is concerned.

  • ‍ Navigational Limits  - These are limits that outline where you can navigate your boat and you may not be covered if you venture beyond the agreed territory. Needless to say, your premiums will be higher if your navigation limits are extensive.
  • Marine Inspection  - Most insurers will require your boat to be inspected by a certified marine surveyor to assess the condition for the boat and its market value.
  • Layup Periods  - These refer to periods when you take your boat out of the water such as during winter when you're not boating. Most insurers will give you credit but you may not be covered if you take the boat out for a ride during the layup periods and something happens.
  • Underage Operators  - Do not be tempted to offer your boat to an underage if he/she doesn't meet the age and license requirements in your area.

Best Sailboat Insurance Companies

Progressive.

As one of the leaders in the insurance industry, Progressive has been providing boat insurance for over 35 years. This company has insured over 1 million boats and has a network of independent agents across the country who are always willing to guide you through their policies.

Although Progressive is widely known for providing auto insurance, its boat insurance offerings revolve around covering small to medium-sized boats measuring not more than 50 feet in length with value not exceeding $500,000. Some of the coverage options to expect from this company include collision coverage, comprehensive coverage, bodily injury and property damage liability, medical payments, mechanical breakdown coverage, and many more.

Unlike most boat insurance companies, Progressive doesn't require boaters to provide a navigation plan. As long as your seafaring adventures are within 75 miles of the U.S. or Canadian coastlines, Progressive will offer a solid and reliable plan for your boat insurance. The company's customizable boat insurance is a cherry on the cake as it makes it a lot easier for boaters to bundle their policies and work within their budgets.

Allstate - Best for Budget

Consistently ranked among the best by various rating institutions in terms of financial strength and customer service, Allstate is one of the biggest providers of boat insurance in the country. With boat coverage options as low as $21 monthly, Allstate offers some of the most affordable coverage options in the boat insurance industry.

The company offers many types of boat insurance and pledge to keep their customers in good and safe hands. From your repair costs, trailer coverage, watercraft liability coverage to uninsured watercraft coverage, and many more, the average cost of boat insurance from Allstate is just about $20 a month.

Nationwide - Best Option for Bundling

Offering unique options for each boater's unique boating lifestyle, Nationwide is widely known for offering the best multi-policy options in the boat insurance industry. In other words, it can give you some of the best coverage options for your boat if you decide to combine your home, car, and boat insurance. With this, you'll get amazing extra perks such as rental reimbursement coverage, optional towing, and road assistance if your boat trailer is included in the coverage.

This is a company that will offer you amazing deals and discounts of up to 25% if you choose to bundle your boat insurance with at least one other policy provided by the company. What's more; they offer affordable packages for fishing equipment ($1,000), personal effects ($3,000), and towing ($500). 

United States Power Squadron (USPS) Boat Insurance Program - Best for USPS Members

USPS is one of the few boat insurance companies that strictly offer insurance for boats. This may be quite disadvantageous for those looking for bundling options but it's great if you're looking for a company that puts its total focus on ensuring your safety and that of your vessel while out there on the water.

As such, this company offers automatic coverage for water skiing, hurricane safe harbor reimbursements, and personal effects coverage of up to $1,500. It also offers automatic fuel spill liability not exceeding $854,000. This is a company that offers among the most competitive packages for serious boaters out there. They offer online quotes, same-day coverage, and policy discounts if you pay premiums in bulk as well as round the clock claims processing.

Markel - Best for Anglers

If you're an angler looking for the best boat insurance for your vessel and fishing equipment, as well as other personal effects, look no further than Markel. With its professional fisherman policy, this company offers replacement cost coverage of up to $5,000 for fishing equipment and cost coverage of up to $10,000 for personal effects.

The company also offers discounts for operators aged 40 and above, accident-free discounts, and discounts for anglers or boaters with more than five years of experience. The best part is that you can save up to 35% on your boat insurance premium if you qualify for these discounts.

So whether you're a professional angler or just fishing for fun, Markel offers some of the best boat insurance coverage options for anglers. You'll be in safe hands with just $100 per year but this may depend on the coverage options that you need.

BoatUS - Best for Additional Benefits

Acquired by Geico in 2015, BoatUS has been offering boat insurance through its affiliation with the Boat Owners Association of the United States. It offers all types of coverage options including actual cash value coverage, liability-only coverage, and full coverage at an agreed value.

The best part for considering BoatUS for your boat insurance is that the company has some of the best additional benefits in the boat insurance industry. For example, all policies must include fuel spill liability coverage and supplemental medical coverage. This, therefore, means that the total costs of your insurance premiums will be reduced significantly thanks to these deductibles and additional benefits. You can also get discounts for good driving records and the completion of approved safety courses. For members, there are even more additional benefits.

State Farm - Best for Emergency Services Coverage

As one of the best-known names in the insurance industry in the country, State Farm might be your go-to-guys if you're looking for the best emergency services coverage. The company offers optional emergency services for up to $500 to service your boat, boat trailer, or motor in case of any damage as stipulated in your coverage contract. The company's optional wreck-removal coverage can also be ideal for you if you're looking for reasonable expenses if you're required by law to raise or remove your boat or wreckage.

The company also provides multi-policy discounts, which can be ideal for you if you want to cut down paperwork and combine your home, auto, and boat insurance. So whether you're a proud owner of a yacht or a modest kayak, State Farm can provide coverage options for your unique needs, especially in times of emergency.

Foremost - Best for Flexible Coverage Options

Known for offering affordable boat insurance coverage options across the country, Foremost can be a great option for you if you're looking for a boat insurance company that can offer coverage options that are suited for your unique insurance needs. Some of its unique coverage options include enhanced towing services, hurricane haul-out, additional pollution liability coverage, fishing tournament fee reimbursement, trip interruption service, pet coverage, and many more.

Most of these coverage options are flexibly tailored to lower your premiums and make boat insurance quite affordable. This company is widely known for insuring specialty risks and can easily offer good, better, and best coverage packages depending on how much you're willing to pay and the types of coverage options that you want.

Hagerty - Best for Classic Boats

Just like classic cars, we all know that classic boats are a rarity and you certainly want the best insurer for your unique an exotic classic boat. Of course, owners of classic boats have special needs that might not be the same as other boats, and this requires a company that offers these specialties. Well, Hagerty takes immense pride as one of the best boat insurers for classic boats.

The company not only offers personalized insurance services but also utilizes actual cash value to determine the right coverage limits for your boats. Its agents are also affiliated with well-known boating clubs whose members are generally proud owners of classic boats. So you can consider joining one of these boating clubs and you might be in for significant discounts on your insurance premiums for your classic boat. 

United Marine Underwriters - Best for Personalized Customer Service

Having provided boat insurance across the United States except in New Mexico for nearly three decades, United Marine Underwriters takes immense pride in presenting itself as a specialty boat insurance company that puts a lot of emphasis on customer service, happiness, and safety.

This company offers liability limits of up to $1 million and you get various discounts if you meet certain thresholds. For example, you'll get substantial discounts if you complete one of the recognized boat safety courses that are approved by the National Association of State Boating Law Administrators and the Coast Guard Auxiliary and Power Squadron. The company also assigns you a primary service person to take care of all your servicing needs, which is why it's widely known for its excellent customer service.

Legally speaking boat insurance is not a must in many states unless you come you're planning to boat in Utah, Hawaii, and Arkansas. However, the peace of mind that boat insurance gives you when out on the water can never be underestimated. And because your boat is probably one of your most prized possessions, it's essential to choose the best sailboat insurance option; something that covers all your needs.

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I've personally had thousands of questions about sailing and sailboats over the years. As I learn and experience sailing, and the community, I share the answers that work and make sense to me, here on Life of Sailing.

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  10. Pacific Marine, Canada's pleasure craft insurance underwriter

    Canada's Trusted Pleasure Craft Insurance Underwriters. National in scope, regional in customer service. #tiedtosecurity for 50 years. ... You will receive a tailored boat insurance policy suited solely on the needs of your client for a mutual rewarding partnership. Become a Partner Broker Portal. Easy application;

  11. Boat Insurance and Watercraft Coverage

    From small runabouts to cruisers and sailboats, we have you covered. Cowan Insurance Group offers one of the largest, most comprehensive and well recognized boat and pleasure craft insurance programs in Canada, with coverage for boat owners in all Provinces. If you own one of the over 8 million estimated boats in Canada, you understand both the ...

  12. Cheap Boat Insurance in Canada

    The three main types of boat insurance in Canada are: Property coverage: Covers the physical boat and anything permanently attached to it. Amongst other things, this includes the boat motor, fuel tank, oars, and anchors. Risk coverage: Coverage from theft, capsizing, fire and collision are found here. For other queries, speak to your broker.

  13. Boat Insurance in Canada

    The Best Boat Insurance Broker in Canada. RecProtect is a reputable insurance broker specializing in recreation insurance for trailers and boats across Ontario, Alberta, British Columbia, Saskatchewan and Manitoba.We are committed on delivering transparent and comprehensive information about our policies and a streamlined claim process.

  14. Yacht Insurance

    Best in class boat, sail and yacht insurance coverage. Call a Harbour marine specialist for comprehensive yacht coverage at 1.877.731.1224. EN; FR; Products. Boat Insurance Power or sailboats; Personal Watercraft Insurance Jet Skis, Sea-Doo, WaveRunners, & other jet-drive boats under 13 feet;

  15. Marine Insurance

    Wreck Removal and Salvage. $5000 Emergency Towing Coverage - no deductible. Gallagher is one of the leading marine insurance brokers in the world and our clients will benefit from the enhanced line of products now available. Find Out More. For more information, call us at: Phone: (416) 789-7211. Get Online Quote. OR call toll free: (800) 661 ...

  16. Boat Insurance. Marine Insurance

    Allstate Canada's marine insurance protects you, your gear, and your boat, Jet Ski, Dinghy, Sailboat, or other watercraft types. Get a free online quote. ... *Not all jet boats are covered by boat insurance, please check with your local Allstate agent as terms and conditions apply.

  17. Boat Insurance Guide 2023: Costs, Coverage & Policies

    Call us at 1-844-558-8745 or email [email protected]. Get the info you need to protect your boat and ensure peace of mind with this comprehensive guide on boat insurance costs, coverage, and policies. Learn what factors influence your rates and find out which policy is best for you!

  18. Safe Harbour Insurance Canada

    The Safe Harbour Advantage. Safe Harbour Insurance was founded in Ontario in 1969. The company gained a reputation as a trusted leader in the affordable boat insurance industry in Ontario. In 2019, Safe Harbour Insurance opened an office in British Columbia to serve and inform boaters from BC and AB. In 2020, we opened up an office in Quebec.

  19. Ontario Boat Insurance

    boat insurance rates in Ontario. Get free & accurate quotes from Canada's top boat insurance providers. In just a few minutes, our quoter can unlock discounts that can have. you saving hundreds of dollars a year on average. START FREE QUOTE NOW.

  20. Get a Quote

    Our policies are thorough, covering all aspects of your boating needs. Our agents in Ottawa are available if you would like a more personalized quote as well. We are open Monday to Friday from 8:30 a.m. to 7:30 p.m., as well as Saturdays from April 1st to September 30th from 12 p.m. to 6 p.m.

  21. Boat Insurance: Get your Quote

    APRIL Marine Assistance 1-866-683-6521. Our boat insurance experts are here to help 24/7, whether you are at the dock or out on the water: 7/7 claims: Our experts will assist you so that making a claim - and getting compensated - is fast and easy. 24/7 towing referrals: In the event of a breakdown, we'll find the emergency towing service ...

  22. Sailboat Insurance: The Best Options By Far

    This is a company that will offer you amazing deals and discounts of up to 25% if you choose to bundle your boat insurance with at least one other policy provided by the company. What's more; they offer affordable packages for fishing equipment ($1,000), personal effects ($3,000), and towing ($500).

  23. Classic and Collector Boat Insurance

    Insurance for collector boats. Get guaranteed, agreed value coverage for your collector boat through Hagerty Canada. Get a quote. Over 35 years ago, when Frank and Louise Hagerty couldn't find coverage for their beloved boats, they created the first ever Agreed Value policy. It's a proud tradition that continues today with accessible, in ...