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Adequately cover your personal watercraft or boat
For boat and personal watercraft owners who are looking forward to good weather, they can take advantage of the low season to find out about the appropriate insurance for this type of recreational vehicle in order to benefit from appropriate protection.
According to the Quebec Maritime Association, the province has more than 860,000 pleasure boat owners, or one in ten Quebecers owns a boat.
The popularity of such a hobby is not always accompanied by coverage, since insurance remains optional and is 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, etc. It is therefore essential to insure such a property. As for the amount invested in a new boat, it depends on the size of the model and the features it has. The value of some boats can exceed one million Canadian dollars.
How do I insure a boat or personal watercraft?
Several elements are taken into account for the insurance of this type of vehicle, including the type of boat, its length, its power and the frequency of its use. It is possible to assign the boat to home insurance, but only in certain cases. Whereas in general, you should think about taking out specialized protection. To find out which one to choose between these two options, it is advisable to talk to your damage insurance agent or broker.
Check the coverage of the insurance contract
An owner takes great care of his boat or personal watercraft, regularly checking on its general condition and navigation equipment. He must do the same for the guarantees and clauses that make up his insurance policy, in particular the part relating to limitations and exclusions.
Insurance contracts cover motorization and sails, but it is necessary to check that the policy also insures navigation and communication devices, as well as other on-board materials and equipment. It is also necessary to check whether the cover is valid both when the boat is afloat and if it is stored on land, without neglecting the conditions associated with this cover. It is better to check at the same time whether the transport on the route of the boat is provided or not.
The owner of the boat must also find out about the possible options in case of damage to the boat. Indeed, he must ensure that he is entitled to rent another with the same characteristics during the repairs. Similarly, he must find out about compensation for towing or fuel delivery costs in the event of a dry run during navigation.
The boat’s coverage is valid during the winter season for the majority of insurance policies, which provide for storage during the lay-up or wintering period between November 30 and April 1.
The storage of the boat depends mainly on the type of boat. It can be done on a trailer in the yard of the owner’s home, in a warehouse or in a marina when it comes to a large model. The risks to a boat stored in a yard are different from those of a boat wintered in a warehouse. In the first case, the boat may be stolen or exposed to the fall of a branch that could damage it. While in the second case, the boat can be damaged by rodents or fire. Therefore, it is necessary to check the different clauses and guarantees of the insurance policy.
Several elements are taken into account when it comes to coverage, including the destination. The usual places of navigation are inland and coastal waters within 100 nautical miles of Canada and the United States, based between 52° and 40° north latitude. These are 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 port. The perimeter also includes the west coast of Canada and the United States, west of 120° west longitude. To navigate outside this area, you should think about extending the coverage outside the territorial limits.
On the other hand, Quebec marinas, locks and government wharves require liability insurance to be worth more than two million Canadian dollars. In the event of non-compliance with this requirement, it is possible to be denied access to the facilities. It is essential that the owner decides in advance which infrastructure to use to be sure that it would be possible to use them or not.
Protection for your boat or personal watercraft
The insurance takes into account the prevention against theft. There are certain ways to significantly reduce the risk involved. Among these means are the installation of anti-theft nuts on the engine foot, the installation of a specialized padlock allowing the hand neutralization of the boat’s trailer, the marking of certain parts of the boat and the installation of a boat tracking system. If the owner does not comply with the requirements imposed by the insurer, this can lead to an increase in the insurance premium or the non-coverage of certain cases of theft.
To conclude, before casting off, you should consult the damage insurance agent or broker. This is an opportunity to ask any questions, get a quote and learn about boat or personal watercraft insurance.
