Boat Insurance
What Is Boat Insurance?
Boat insurance protects your watercraft from damage, loss, or liability—whether it’s docked, stored, or out on the water.
In Ontario, it’s not legally required to insure your boat, but most marinas, lenders, and responsible owners strongly recommend it.
Boat insurance typically covers:
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Liability: Injury or damage caused to others
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Physical damage: From collisions, fire, theft, or storms
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Towing and emergency assistance
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Wreck removal and environmental cleanup
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Trailer coverage (if added)
What Types of Boats Are Covered?
We insure a wide variety of recreational and personal watercraft, including:
Motorboats, fishing boats, and pontoon boats
Sailboats and yachts
Jet skis, Sea-Doos, and other PWCs (personal watercraft)
Bass boats, wakeboard boats, and runabouts
Canoes and kayaks (for theft/fire coverage if required)
Let us know how and where you use your boat—coverage is tailored to seasonal or year-round use.
Why Do I Need Boat Insurance?
Home insurance policies often limit or exclude boat coverage, especially for higher-value or motorized vessels.
While boat insurance isn’t mandatory in Ontario, it’s a smart decision for several reasons:
Accidents on the water can be costly, especially with injury or multiple boats involved
Theft and fire are common risks—especially in storage or transport
You may be required to have coverage if storing your boat at a marina or financing it through a lender
Boat insurance helps protect your investment, liability, and freedom to enjoy the water worry-free
How Much Does Boat Insurance Cost?
Several factors affect the cost of your boat insurance policy:
Type, size, and value of the boat
Motor size (horsepower) and top speed
Where and how you use the boat (lakes, rivers, ocean)
Your boating experience and license status (e.g., Pleasure Craft Operator Card)
Where and how the boat is stored
Additional coverages (trailer, equipment, personal belongings, etc.)
Our brokers will compare quotes from leading marine insurers to help you find the right policy at the right price.
Get a Quote for Boat Insurance
Sail, fish, or cruise with peace of mind this season.