Obtaining Insurance for Your Boat or Other Watercraft

Regardless of whether you prefer the excitement of racing around in your motorboat, or relaxation of peacefully sailing across the lake, every watercraft should be backed with the necessary security to ensure you’ll experience nothing but fun on the water all summer long. A marine insurance policy will cover your personal watercraft.

Selection of Watercraft Insurance
When it comes to selecting appropriate watercraft insurance, there is a variety of policies available to you depending on your particular watercraft and personal needs. There are many types of boat insurance available in order to accommodate just about everything you might operate on the water. The most popular owned watercrafts are as follows:

  • Power Boats
  • Pontoon Boats
  • Water-Skiing Boats
  • High Performance Motorboats
  • Recreational Fishing Boats
  • Large Yachts
  • Personal Watercrafts
  • Sailboats
  • Small Runabouts

Boating Insurance Components Regardless
For the majority, if you own a boat or other watercraft consider the below factors in determining the necessary insurance coverage:

  • Hull and machinery coverage, which includes outboard motors if relevant. This is related to any damages caused by water dangers such as hitting rocks underwater.
  • Damage incurred from insects, rodents, and other animals
  • Liability coverage for injury or damage as a result of pollution or spills.
  • Emergency costs if faced with the need for towing etc.
  • Watercraft trailer coverage if necessary
  • Personal items and boating equipment that is not attached to the boat

Certain boats can be covered under your homeowner’s policy, however it doesn’t always offer sufficient coverage, such as the above circumstances. Furthermore, a claim made against your watercraft can have a negative effect on home insurance that is “claim-free”.


What are the Requirements for Operating and Insuring a Watercraft
For the purpose of securing your marine insurance, you’ll likely be requested to present evidence that you are licensed and competent in regards to boating safety operations. In addition, you might be asked to present your boating license number as well.

  • Proof of Competency: In  Barrie, Orillia and the rest of Ontario, anyone who is operating a power-driven watercraft must provide documented proof of competency, which clearly indicates they are knowledgeable and understand all rules pertaining to boating and water safety. A Pleasure Craft Operator Card (PCOC) proves you have written and passed an official boating safety test.
  • Pleasure Craft License: Any watercraft that contains a motor over 10 hp (7.5 kW), must be operated by personnel whom have a valid pleasure craft license. What you may not realize is that such a license helps rescue teams and other agencies discover your boat quickly, should there be an emergency. The license is free and applications are available online at Transport Canada’s Office of Boating Safety or at Service Canada Centres.

Some quick safety tips to keep in mind this summer:

  • Motorboats: Anyone below the age of 16 cannot drive a boat over 40 hp (30 KW)horsepower, without adult supervision.
  • Personal Watercraft (PWC): Persons under the age of 16 cannot operate a PWC under any condition.
  • Personal Floatation Devices (PFD): Ensure you have appropriate life jackets or PFD’s to accommodate adults and children. These are essential by law, and will keep everyone on board safe. While many people prefer to have them on hand rather than wearing them, this may not provide the protection you need.

At the end of the day, you are accountable for your watercraft and the safety of those around you when it’s in use; ensure you are fully protected! For Free Recreational Insurance Quotes in Barrie, Orillia or Simcoe County, call Will Marshall Insurance Brokers Ltd., 705-726-2551!

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