Compare Boat Insurance Quotes For Your Watercraft

Get Boat And Watercraft Insurance

Don’t set sail without boat insurance. Canada is home to some of the best lakes and waterways in the world. Whether you are going fishing, enjoying some water sports, or just cruising, make sure you have proper boat insurance for your watercraft.

At ThinkInsure, we can help you find a flexible and custom policy to meet your boat insurance needs. We have coverage for all types of boats and personal watercrafts. We'll compare boat insurance quotes from the leading insurers in Canada to get you a lower rate.

What Is Boat Insurance?

Boat insurance covers you in the event of damage or loss. It provides you with protection for all types of watercrafts and vessels. They are all risk policies. This means you are covered for all risks unless they are excluded from your policy. This is also commonly referred to as watercraft or PWC insurance.

Do You Need Boat Insurance?

Boat insurance is not mandatory. You are not legally required to have it in Ontario. However, there are some instances where you may need to get coverage. For example, if you finance, your lender many require you to be insured. Or if you store it at a marina, they may require you have it.

How Much Does Boat Insurance Cost?

Rates vary based on a variety of factors. Some of the key things that affect the cost are the boat size and horsepower. The navigational range, experience of the operator, insurer and limits also affect the premium.

The average premium can range anywhere from $300 to $1,000 or more. Get a quote to better understand the average rates for your unique situation.

Insurance For All Types Of Boats

Get boat insurance for all types of watercrafts, including the following :

Personal watercrafts (PWC)
Jet skis
Yachts
Classic boats
Sailboats
Speedboats
Pontoons
Fishing boats
Sports boats

What Does Boat Insurance Cover?

It protects you, your boat and personal belongings against loss from many risks. Most policies include liability which includes protection for your passengers and liability for water sports activities. Damage to furniture, the hull, sails, and machinery are generally covered.

Here is what most policies cover :

Loss from weather, theft, fire
Loss and damage as a result of an accident
Emergency towing and loss of use
Medical costs and accident benefits
Navigation equipment
Sports equipment and personal belongings
Pollution and wreck removal
Motors and trailers

What Does Boat Insurance Not Cover?

Policies do have some exclusions. It’s important for you to understand the type of things that are not part of your policy. Here is what you are not covered for :

Damage from ice or freezing temperature.
There are navigational limits to how far you can travel.
It may not cover damage from rodents and animals.
Damage from use when your vessel is in layup.

Policies differ. Get clarification from your insurer about what is and is not included.

How Can I Get Lower Boat Insurance Rates?

There are a number of ways you can lower your rates. Here are some ways to get the best premium :

Combine with car insurance or home insurance to get a better price.
Have a clean driving record
Complete nautical training courses
Stay claims free
Compare quotes from multiple insurers

Boat Insurance FAQs

Why Should I Insure My Personal Watercraft All Year?

Threats to your boat exist all the time, not just when it’s in the water. In the offseason there is damage risks from weather, vandalism, and more.

Why Get Boat Insurance?

Boat insurance helps you protect it. You’ll have peace of mind when out on the water. Plus, you’ll have protection if someone is injured or property gets damaged.

Who Has The Best Boat Insurance?

The best boat insurance is not based on a specific provider. Coverage and premiums vary based on your vessel type and many other factors. Compare quotes to find the coverage for your unique situation.

Does Boat Insurance Cover The Trailer?

Your policy will offer protection for physical damage to the trailer. It will not cover you for liability. If your trailer causes damage to another vehicle, your Ontario car insurance will take effect.

Do I Need A Survey For Boat Insurance?

It depends on the age of your boat and your insurer. Older boats may be required to get a survey annually.

Does Boat Insurance Cover Storm Damage?

Yes, your boat insurance will include protection for storm damage unless it’s specifically excluded.

What Is The Difference Between Marine And Boat Insurance?

The main difference is marine insurance is for commercial boats. Boat insurance is for personal watercrafts.

Do I Still Need Insurance If My Boat Is Stored At A Marina?

Yes, the marina does not cover your boat. You will need insurance to cover and damage or loss when it is in storage at a marina.

Get A Boat Insurance Quote Today!

At ThinkInsure, we know you want to spend your time enjoying the open water. We’ll help you get the policy you need to protect you and your watercraft.

All types of watercrafts : We can help you get insured for many types including speedboats, sailboats, yachts and more.
Affordable rates : As a comparison site, helping you save money is our main goal.
Exceptional customer service : We have your best interests in mind. We can help you with all your needs. Have questions? Just give us a call. We’re always available to help.
Top companies : We work with the leading insurers to find you the best premium.

Compare Boat Insurance Quotes

Find the best boat insurance quotes for your watercraft from the top providers in Canada.