Boat

Boat Insurance

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We have access to a variety of marine insurance companies who can issue policies for pleasure craft and commercial vessels.

Marine policies are rated based on the vessel’s age, type, construction, engine type, equipment, area of operation, berthing, amount of land transport, etc., as well as the training and experience of the operators.

Our pleasure boat insurers are:

  • Coast Underwriters Ltd.
  • Cowan Dalton (Underwriters for the Canadian Power & Sail Squadron Program)
  • Beacon Underwriting
  • Oceanic Underwriting
  • Intact Insurance Company (formerly Axa Pacific Insurance)
  • Pacific Marine Underwriters
  • Premier Marine
  • Sports Can Underwriting

Our commercial marine coverages are available through:

  • Avec Insurance Managers
  • Beacon Underwriting
  • Coast Underwriters
  • Oceanic Underwriting
  • Intact Insurance Company (formerly Axa Pacific Insurance)

Marine insurance companies require completed, signed applications in order to have coverage bound. Depending on the age and construction of the boat, owners may also be required to submit a current vessel condition and detail report from an approved marine surveyor.

Some topics to discuss with your broker are:

  • Most yacht insurance policies contain valuation limitations for certain types of equipment. For example, the following types of items over five (5) years of age may be limited to their depreciated value (actual cash value): sails, protective covers, fabric, outboard motors and yacht tenders
  • Personal effects cover
  • Marine liability (known as Protection & Indemnity) – designed to protect boat owners for the unique liability risks associated with the use and ownership of boats. For example, it includes liability for wreck removal, pollution and “In rem proceedings” (lawsuits against the vessel)

Learn about Boat Insurance Discounts Here