Safeguard your boat or sea-doo with our Watercraft Insurance.
With our coverage, you can embark on aquatic escapades without any concerns holding you back.
Click on one of the below topics to unpack your Watercraft insurance:
Boats we will insure:
- Sailboat
- Jet boat
- Sport
- Fishing boat
- Cruiser and cuddy
- Houseboats
- Pontoon and deck
- Runabout
- Personal watercraft
Comprehensive coverage is for a range of risks and damages. This includes protection against fire, explosion, theft, and vandalism. Additionally, it covers any damage caused by lightning, hail, and windstorms.
Depending on your insurer your policy may also safeguard against vermin damage. Be sure to check with your broker to see if this coverage is available for your vessel to stay protected from various perils and potential losses.
Collision insurance offers protection for various types of damages resulting from collisions. This coverage not only includes damages incurred from collisions with other boats but also covers any damages caused by collisions with docks and buoys.
Additionally, collision insurance provides coverage for damages resulting from collisions with other objects.
Guaranteed Replacement Cost (may be available up to three years old for most vessels) for boat insurance is an enhanced option that goes beyond the traditional coverage. With guaranteed replacement cost, in the event of a covered claim, you will receive a brand new model of your boat, even if it costs more than the original.
The agreed value/replacement cost (available up to 15 years old for most vessels) is for a covered claim, if your boat (up to 15 years old) is a write-off, we’ll pay you the amount stated on your policy.
Actual Cash Value
For a covered claim, we’ll pay you the actual cash value of your boat at the time of loss.
The costs associated with a boating accident extend beyond repairing or replacing your boat. It’s important to also consider the potential expenses of covering damage to someone else’s property and any medical bills that may arise from injuries sustained.
Liability coverage provides financial protection if you are held responsible for causing bodily injury or property damage. However, it’s important to note that this coverage does not include any damage to your own boat.
Did you finance your boat? If you did, you might have also signed up for a form of Life Insurance! Our personalized policies translate to better coverage and premiums that are, on average, 30-50% lower than traditional Creditor Insurance from the bank.
Product Page
Most common Boat Insurance claims…
Claim #1: Colliding with an object in the water
Most insurance claims for scratched boat hulls or damaged propellers result from shallow water, logs, rocks, and other partially submerged objects.
Claim #2: Theft when not in the water
Theft of watercraft has always been and remains a concern. “We often see thefts that occur when the boat is left on a trailer in the driveway. Someone can pull up, hitch it up and drive away with the boat pretty quickly,” says Shawn McKone, Senior Manager in Specialty Claims at Aviva.
Boat safety resources…
It comes as no surprise that approximately 12.4 million Canadians take advantage of our diverse waterways by engaging in boating activities. Unfortunately, a concerning statistic reveals that around 40% of boaters venture out without the necessary safety equipment that is legally mandated. If you’re seeking further insights on boating safety, we have compiled a list of valuable resources to assist you.
Need to register your boat trailer plates or get a permit?
Let us take care of your registration plate renewal as your SGI issuer. MySGI services allow you to enjoy hassle-free registration renewal online so you can skip the line.
MYSGI SIGN IN
Enjoy all the aspects you love about being on the water while having the assurance of Boat Insurance.
Get Free Quote
