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Insurance may shield you from legal trouble whether your boat is in a marina slip or your private boathouse. Insurance for your boat is not required, but it might help in damage, liability, or other accidents.

Categories of Coverage

You may choose from the following policies if you own a recreational boat:

Coverage for the boat's hull and machinery in case of damage or loss.

Liability insurance for protection against harm to others' property and personal injuries. It's useful for figuring out what went wrong after a defeat and building a case to defend yourself. You will get compensation up to the insurance maximum if proven liable.

Accidents on the water might result in unexpected medical bills, but this policy has you covered.

Information Necessary for Insurers

Commercial insurance companies need identical information about boat owners and drivers as they do about drivers of motor vehicles. What's in it is:

  • Dimensions, features, and cost of the vessel
  • Its age, condition, and current market worth are all factors that an insurer would consider before covering a yacht older than 15 years.
  • The relevant factors are how often it is used, for what, and where it is kept.
  • Where do you usually go boating, and whether or not you ever charter
  • The owner's and operator's experience, loss, and claims
  • If the operators are Sail Canada or Canadian Power and Sail Squadron members.
  • You could have a boathouse, garage, or shed on your recreational property. To assure the complete safety of these structures, you may need to get supplemental insurance; review your policy's coverages and exclusions carefully.


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