It is not required by law to have boat insurance in Ontario, however, it is ALWAYS recommended that you purchase a watercraft insurance policy in order to protect yourself. There are also some situations where you must insure your watercraft, such as financing or to meet a marina’s contract requirements.
Most insurance companies will allow you to add your boat or PWC to your home insurance policy, as long as it meets the length and horsepower limitations. Keep in mind, insuring your boat or PWC on it’s own policy rather than your home policy provides more comprehensive coverage. Watercraft policies generally offer additional coverages such as personal property, loss of use, emergency towing and pollution liability. Talk to your broker today to determine the best option for you and your assets. Whichever way you decide to go, remember these tips for a great day out on the water…
- All operators of recreational watercraft in Canada are required to obtain and carry a Pleasure Craft Operator Card (PCOC)
- Check weather beforehand. Storms can roll in in an instant, especially on the larger bodies of water such as Georgian Bay
- Ensure your boat has enough lifejackets for all people on board
- Keep a boat safety kit handy
- Know the waterways you will be travelling, keep up to date nautical maps on board or use an electronic version such as Navionics
- Tell someone on shore where you plan to go and how long you think you will be
- Don’t drink and boat, save the drinks for the dock and enjoy your time on the water!