Insuring your boat or personal watercraft

Properly cover your watercraft or boat

Boat and PWC owners looking forward to good weather can take advantage of the off-season to find out about the right insurance for this type of recreational vehicle, so as to benefit from appropriate protection.

According to Association Maritime du QuébecThere are over 860,000 pleasure boat owners in the province, or one in ten Quebecers.

The popularity of this type of leisure activity is not systematically accompanied by coverage, since insurance remains optional and not a legal obligation.

And yet, this type of recreational vehicle has a high intrinsic value, and is not immune to various disasters such as theft, fire, boating accidents, breakage, vandalism and so on. It is therefore essential to insure such an asset. The amount invested in a new boat depends on the size of the model and the features it is equipped with. The value of some boats can exceed one million Canadian dollars.

How do I insure a boat or personal watercraft?

Several factors are taken into account when insuring this type of vehicle, including the type of boat, its length, power and frequency of use. It is possible to insure your boat as part of your home insurance policy, but only in certain cases. In general, however, you should consider taking out specialized coverage. To find out which of these two options to choose, it's best to talk to your agent or broker. damage insurance broker.

Check insurance contract coverage

An owner takes great care of boat or personal watercraftHe must also check the general condition of the boat and its navigation equipment on a regular basis. He must do the same for the guarantees and clauses making up his insurance policy, particularly the part relating to limitations and exclusions.

Most insurance policies cover engines and sails, but you should also check that the policy covers navigation and communication equipment, as well as other on-board materials and equipment. It's also worth checking whether the coverage is as valid when the boat is afloat as when it's stored on land, without neglecting the conditions associated with this coverage. At the same time, it's a good idea to check whether or not the boat is insured for road transport.

Boat owners should also be aware of their options in the event of damage. In fact, he must ensure that he has the right to hire another boat with the same characteristics during repairs. They should also find out about compensation for towing or fuel delivery costs in the event of running out of fuel while sailing.

Boat cover is valid during the winter season for the majority of insurance policies, which provide for storage during the disarming or wintering period between November 30 and April 1.

Storage depends mainly on the type of boat. It can be stored on a trailer in the owner's backyard, in a warehouse, or in a marina for larger models. The risks to which a boat stored in a yard is exposed differ from those of a boat wintered in a warehouse. In the first case, the boat could be stolen or damaged by a falling branch. In the second case, the boat could be damaged by rodents or fire. You should therefore check the various clauses and guarantees of the insurance policy.

Several factors are taken into account when determining coverage, including destination. The navigation areas usually covered are inland and coastal waters within 100 nautical miles of Canada and the United States, based between the 52nd and 40th degrees north latitude. These include the Ottawa River, the lakes and rivers between Quebec and Ontario, the St. Lawrence River, the inland waters of New Brunswick, the inland waters of Vermont, Maine, New Hampshire, Connecticut and Rhode Island as far as New York, with the exception of the Hudson River and the harbor. The perimeter also includes the west coast of Canada and the United States, west of 120 degrees west longitude. To sail outside this zone, you need to consider extending your coverage beyond the territorial limits.

On the other hand, Quebec marinas, locks and government docks require liability insurance in excess of two million Canadian dollars. Failure to comply with this requirement may result in refusal of access to the facilities. It's vital that the owner decides in advance which facilities to use, to be sure that it would be possible to use them or not.

Protection for your boat or watercraft

Insurance takes theft prevention into account. Certain measures can significantly reduce the risk. These include the installation of anti-theft nuts on the engine mount, the fitting of a specialized padlock to neutralize the hand of the boat's trailer, the marking of certain parts of the boat and the installation of a boat tracking system. If the owner fails to comply with the requirements imposed by the insurer, this may result in an increase in the insurance premium, or in certain cases of theft not being covered.

In conclusion, before casting off, you should consult your property and casualty insurance agent or broker. This is the time to ask all your questions, get a quote and find out about boat and personal watercraft insurance.