A small boat, such as a canoe or other un-motorized boat, typically can be added to the covered personal property portion of your homeowner’s insurance policy. If you own a larger, faster boat, you’ll need a separate boat owners insurance policy. A typical boat owners insurance policy is designed to protect your boat, motor, equipment, and legal liability. It affords similar coverages to those you typically have for your car including:
Physical damage coverage insures your boat, motor, boat trailer, boat equipment (anchors, oars, fuel tanks, life jackets, dinghies, tools, etc.) and other personal property against theft, accidental loss or damages.
Liability – Two principal liability coverages are included
Personal Liability – A boatowners insurance policy provides protection for legal liability and pays, up to the limit of your policy, the legal obligations imposed upon you due to an accident resulting from the ownership, maintenance, or use of your watercraft, including bodily injury, property damage and legal defence.
Medical Payments– This pays medical expenses, up to the limits in the policy, including the insured’s boating-related medical expenses from an accident arising out of the ownership, maintenance or use of the boat.
Additional Coverage Options
For added protection, consider the following additional coverage options:
Emergency Towing and Loss of Use
Pays for reasonable costs that you incur resulting from specified emergency service to your boat, motor, or boat trailer.
Pays the reasonable expenses you incur for any attempted or actual raising, removal or destruction of the wreck of your watercraft when damage is caused by an insured loss and removal or destruction is required by law.
Search & Rescue and Fire Department
Pays for charges of these services if you were to require them.
Top Ways To Save
- Dry dock
- Ask about our multi-policy discount