Small Boat Insurance
Our small boat insurance coverage at Portside Marine Insurance covers all the angles so you don’t have to. That way, you and those onboard can truly unwind and enjoy your experience, knowing that you’re well looked after! We’re proud to offer fully customizable solutions that keep small boat insurance costs under control, all without sacrificing essential coverage options. Whether you only occasionally take your rowboat out for transportation to and from an island cottage or fish all through the season, we’re happy to help protect your investment and those onboard from a financial perspective.
Why You Need Small Boat Insurance
Wherever you love to be on the water, from peaceful lakes in the countryside to more popular waterways in areas known for tourism, having the appropriate small boat insurance policy can ensure you enjoy your experience with minimal frustration. Accidents can occur no matter how careful one is as the captain or passenger of a vessel, whether caused by your own boat or someone else’s, so liability protection is a must.
And then, there are the risks of transporting and/or storing your vessel, such as theft and vermin infestations. Not only that but, depending on what you use your small boat for and the type of vessel in question – such as one with a more powerful motor – there’s the potential of other issues, including costly mechanical breakdowns. Having sufficient small boat insurance active can spare you much of the financial stress when and if something goes wrong.
What is Covered?
Agreed Value Coverage
Don’t want to receive less than the value of your boat when you purchased it? For many boaters, this is a significant investment that they don’t want to be burned by. We’re happy to help by offering agreed value coverage, which protects against depreciation for up to 15 years on most types of vessels.
Brand-New Replacement Parts
Nobody wants to replace a part with something less performant or, worse, a component that is refurbished. Brand-new replacement parts are the norm with our small boat insurance options, and you won’t be on the hook for any betterment fees. If you need anything replaced, there’s no need to wait to get it taken care of, helping you make the most of your available time on local waterways.
Recovery and Emergency Tows
If you run into trouble, such as a broken-down motor, getting stranded out in a lake or large river is simply not an option as it puts the boat and occupants at risk. Recovery expenses can normally be quite high, such as those for emergency tows, but our Portside Plus coverage takes care of this to alleviate any financial concerns on your end. What’s more, if you need reimbursement for hotel or temporary vehicle expenses, your coverage will kick in to handle these costs in the event of a claim.
What to Consider When Shopping for Small Boat Insurance
Intended Use Case
Zipping around busy waterways in a speedboat. Canoeing and portaging amongst the pines, along a waterway cutting through the woods. Taking loved ones out for a fishing adventure in your family’s favourite spot for catching salmon. These are all unique use cases, and each will influence your small boat insurance costs in a different way.
Background and Boating Experience
Even if you have a small, relatively simple boat like a standard, budget-friendly aluminum fishing boat, your own history matters. Have you encountered any mishaps in the past when boating that were your own fault? Or do you have limited experience with the vessel you’re planning on using? Your background and boating expertise play a critical role in influencing insurance costs.
Where You Use Your Small Boat
If you wish to boat where it’s busy – and during the busiest time of year – there’s a higher risk element of an accident on your behalf or someone else’s. However, if you prefer boating in more remote areas with generally calmer waters, this may be a more cost-effective scenario due to a lower risk element.