Category: Boat Insurance

Why All Boaters Need Year-Round Insurance Coverage

As a seasonal boater, you may be tempted to only secure insurance during the months you’re actively using your boat. It seems logical: Why pay for coverage when your vessel is safely docked or stored away for the off-season? However, this approach can expose you to significant risks and unnecessary costs. Here are compelling reasons why seasonal boaters need year-round insurance coverage.

Protection from Off-Season Risks

Theft and Vandalism

Boats are valuable assets, and even when they are stored, they can be prime targets for thieves and vandals. Comprehensive boat insurance can cover the costs associated with theft, attempted theft, and vandalism.

Weather-Related Damage

Mother Nature can be unpredictable. Winter storms, flooding, and unexpected weather events can cause significant damage to stored boats. Year-round insurance ensures that you are protected from these potential losses.

Fire and Other Non-Navigational Risks

Fires, whether caused by faulty wiring, nearby forest fires, or other sources, can occur at any time. Non-navigational risks like these don’t take a break during the off-season. Comprehensive coverage will protect your investment against fires and other unforeseen events.

Financial Security and Peace of Mind

Avoid Lapses in Coverage

Insurance companies often increase premiums or refuse coverage to those who have lapses in their insurance history. By maintaining continuous coverage, you not only protect your boat but also avoid potential financial penalties.

Liability Coverage

Even if you’re not using your boat, you may still be held liable for accidents or injuries that occur on your property, especially if someone gets hurt while your boat is in storage. Liability coverage can protect you from substantial legal and medical expenses.

Lower Overall Premiums

Maintaining continuous coverage can sometimes result in lower overall premiums. Year-round insurance may cost less annually than trying to restart a policy seasonally, especially when considering potential discounts.

Flexibility and Convenience

Having year-round coverage means you don’t need to worry about remembering to renew your policy or checking to ensure coverage before making spur-of-the-moment boating trips. It’s one less thing to manage in your busy life and ensures that you are always protected.

Conclusion

While it might seem like a savvy financial move to drop boat insurance during the off-season, the potential risks and costs of doing so far outweigh the savings. Year-round boat insurance provides continuous protection against theft, vandalism, weather damage, and other risks. It also offers financial security, peace of mind, and potential cost savings.

As a seasonal boater, consider the comprehensive protection that year-round insurance coverage offers. Safeguard your valuable investment and enjoy the flexibility to hit the water on a whim, knowing that you are fully covered no matter the season.

What You Need To Know About Weather & Boat Insurance Claims

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As avid boaters, we understand the unique challenges faced by boat owners. The weather can be unpredictable and sometimes hostile, which can significantly affect your marine insurance claims. This blog will explore how weather events can impact your boat and the type of coverage you need to ensure you stay protected.

The Impact of Weather on Marine Insurance Claims

Canada’s diverse climate can present numerous weather-related risks for boat owners. From the extreme storms to harsh winters to wildfires, each presents unique hazards. Understanding these risks is crucial for safeguarding your investment.

Storm Damage

Storms can cause substantial damage to boats, ranging from minor repairs to complete loss. High winds, heavy rains, and powerful waves can lead to:

Hull damage
Equipment failure
Sinking or capsizing

Insurance Implications: Claims related to storm damage can be extensive. Comprehensive marine insurance will typically cover most repairs and replacement costs. However, policies may have specific stipulations regarding storm warnings and safe harbor requirements.

Flooding

Heavy rains or snowmelt can cause water levels to rise, leading to flooding. This can result in:

Engine damage
Electrical system short-circuits
Interior water damage

Insurance Implications: Marine insurance usually covers flood damage, but it’s crucial to understand the specific coverage limits and exceptions in your policy.

Ice and Cold Weather

Canadian winters pose threats such as ice formation and freezing temperatures, which can affect:

Hull integrity
Engine and fuel system
Plumbing and heating systems

Insurance Implications: Winterizing your boat is essential to prevent damage. Some policies may require proof of winterization to honor a claim. Additionally, coverage for ice and freezing damage might be an add-on, so check your policy details.

Lightning Strikes

Lightning strikes, though less common, can be devastating, causing:

Electrical system damage
Fires
Structural damage

Insurance Implications: Damage from lightning is typically covered, but the policy might stipulate the use of lightning protection systems to mitigate risk.

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Essential Marine Insurance Coverage

To navigate the risks posed by Canada’s diverse weather conditions, it’s vital to have the right marine insurance coverage. Here are key components to look for in your policy:

Hull and Machinery Insurance: This covers physical damage to your boat’s hull and machinery due to weather events or other accidents. Ensure this coverage includes not just the market value but also the replacement costs.
Protection and Indemnity (P&I) Insurance: This provides liability coverage for bodily injury and property damage to third parties. In the event of a weather-related incident, P&I insurance can protect you from significant financial liabilities.
Agreed Value Coverage: Unlike actual cash value policies, agreed value coverage ensures you receive a predetermined amount if your boat is declared a total loss. This can provide better protection against depreciation.

Tips for a Smooth Claims Process

In the unfortunate event of weather damage, understanding the claims process can help ensure a smooth resolution.

Document Everything

Take photos and videos of damage before any repair work begins.
Keep receipts for all repair and maintenance services.

Understand Your Policy

Review your policy regularly and understand your coverage limits and exclusions.
Keep updated on any policy changes or requirements, such as winterization clauses.

Work with a Trusted Broker

An experienced insurance broker can help navigate complex claims and ensure you have adequate coverage tailored to your specific needs.

Reach Out to Your Broker

Weather can be your boat’s biggest adversary, but with the right marine insurance coverage, you can weather the storm. As brokers, our goal is to help you understand and mitigate risks, ensuring you can enjoy your time on the water with peace of mind. Don’t hesitate to reach out to us for tailored advice and support.

What’s Not Covered by Standard Boat Insurance in Canada

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Boating offers a fantastic way to explore Canada’s scenic waterways, but ensuring that your vessel is adequately insured is crucial. While standard boat insurance policies provide a safety net for many boating-related risks, there are specific exclusions to be aware of. Understanding what is not covered can help you make more informed decisions and possibly consider additional coverage options.

Wear and Tear

Just like any other vehicle or piece of equipment, boats undergo wear and tear over time. Standard boat insurance policies do not cover damage resulting from the natural aging of your vessel. This includes issues like rust, corrosion, or mechanical breakdowns that may occur due to regular use.

Negligence

If your boat suffers damage because of your negligence, the insurance policy might not cover the costs. Negligence can include improper maintenance, failing to winterize the boat, or operating the vessel in a reckless manner.

Faulty Repairs

If your boat is damaged due to incorrect or low-quality repairs, a standard boat insurance policy will generally not cover these expenses. This exclusion underlines the importance of choosing reputable service providers for any boat repairs or maintenance.

Unauthorized Modifications

Modifying your boat without notifying your insurer can void your policy. Unauthorized modifications can lead to increased risks that your insurer has not accounted for, rendering your policy invalid in the event of damage or an accident.

Use Outside of Defined Navigation Limits

Boat insurance policies in Canada usually specify a geographic area (above the 40^th parallel) where your boat is insured to operate. Sailing outside these defined navigation limits without additional coverage will typically void your policy and leave you uninsured.

Natural Wear of Upholstery and Canvas

Items such as upholstery, canvas, and other soft furnishings are vulnerable to environmental damage. Sun, saltwater, and general use can take a toll on these materials, and standard policies usually do not cover their natural deterioration.

Personal Belongings

Standard boat insurance often does not cover personal belongings such as clothing, electronics, and other personal items you take aboard. You might need separate coverage or an additional rider to protect these items.

Racing

Participating in competitive boat racing or engaging in high-speed water sports could void your standard boat insurance policy. These activities pose additional risks that typically require specialized insurance.

Unlicensed or Untrained Operators

Allowing unlicensed or inadequately trained individuals to operate your boat can result in a denial of coverage. Make sure anyone who operates your vessel meets the necessary licensing and training requirements.

Conclusion

Knowing what is not covered by standard boat insurance policies in Canada helps you mitigate financial risks and ensure a smoother boating experience. Always read your policy in detail and consult with your insurance broker to fill any gaps in coverage that might not be immediately apparent.

Feel free to contact us to discuss your specific needs and consider adding specialized coverage for risks that concern you the most. Safe boating!

What you need to know about the lay-up period

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As the glittering summer sun gives way to the blustery winter winds, it’s time to talk about boat insurance and lay-up period. Wondering what happens to boat insurance after your boat gets tucked away for the cold season? Let’s dive in!

The Winter Lay-Up Unwrapped

You know it’s time to lift the anchor on another boating season and prep your vessel for winter. Enter the lay-up period – essentially the boating world’s version of hibernation.

It’s a specific period, some insurance companies recognize, when your boat is out of the water and not being used. This is where the insurance magic happens.

Why Is It Important for Boat Insurance?

Okay, let’s break it down. Have you ever noticed that keeping your boat covered in the off-season can lower your insurance premiums? That’s the winter lay-up perk! When boats are out of the water and safely stored because it significantly reduces the risk of damage, theft, and liability. Insurance companies take this into consideration.

Imagine it like this: You wouldn’t leave your precious vintage car parked on the street in a blizzard, right? Just like that, storing your boat properly over winter reduces potential claims and, consequently, lowers your insurance costs. It’s a win-win situation – your boat gets the break it deserves, and your wallet gets to breathe a little easier.

What do you need to do during the lay-up period?

During the lay-up period, a boater has several important responsibilities to ensure their boat remains covered and in good condition. Here are some key responsibilities:

Properly Secure and Store the Boat: Boats must be taken out of the water and stored in a secure location to prevent damage from weather conditions and other risks. This is commonly known as winterization.
Notify the Insurance Company: You need to inform your insurance provider about the lay-up period. If the boat remains in the water or is used during this period, it may not be covered under the terms of the policy.
Maintain Insurance Coverage: Maintain insurance coverage throughout the lay-up period as policies often cover risks such as vandalism, theft, fire, and winter storms even during the off-season. Some insurers may offer premium discounts during the lay-up period.
Follow Policy Guidelines: Adhere to any specific guidelines laid out in your insurance policy regarding the lay-up period. This might include taking specific steps like removing valuable equipment or ensuring the boat is winterized correctly.
Ensure Proper Maintenance: Conduct routine maintenance checks and keep the boat in good condition to prevent damage over the lay-up period.

Reach out to us for a quote

Now that you’re in the know about winter lay-up and its impact on your boat insurance, why not sail smoothly into the next season with confidence? If you’ve got questions or need a quote to ensure your boat is covered all year round, reach out to us! We’re here to make sure your nautical ventures stay safe and sound, no matter the season.

Drop us a line and let’s talk insurance!

Boating Etiquette: Unwritten Rules Every Boater Should Know

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Ever wonder why it feels like you’re navigating through a sea of chaos out there? It’s not just the waves—sometimes it’s the boaters who haven’t quite gotten the memo on boating etiquette.

Imagine the water as one big, floating party where everyone’s invited. To make sure you’re not the one everyone’s secretly hoping will leave, here’s a guide to boating etiquette. Think of it as your cheat sheet to being the most popular captain on the high seas. So, grab your life jacket, and let’s dive into the unwritten rules that’ll keep you cruising smoothly.

Boating etiquette 101

Respect the Right of Way

Respecting the right of way is fundamental to safe boating. Just like on the road, there are specific rules for who has priority on the water.

Powerboats must yield to sailboats and vessels that are manually propelled, such as kayaks and canoes. When approaching another powerboat head-on, you should pass on the right (starboard) side. If you’re overtaking another vessel, do so from their starboard side while maintaining a safe distance.

Clear communication is key—use your horn or lights to signal your intentions, particularly in busy or low-visibility conditions, to prevent misunderstandings.

Keep Your Distance

Maintaining a safe distance from other boats is crucial. This is especially important if you are on a jet ski, if you are following a boat to play in its wake give them ample space. Don’t follow the boat if they are towing anyone, whether it’s tubing, wakeboarding or wake surfing.

Not only does it help prevent collisions, but it also ensures that everyone has enough space to enjoy the water. Avoid creating wakes that could disturb other boaters, especially in crowded areas or near smaller vessels.

Anchor Considerately

When anchoring, make sure you’re not too close to other boats. Always anchor in designated areas and avoid obstructing navigation channels or popular fishing spots. Allow enough space for all boats to swing with the wind or current without the risk of collision. Be mindful of where you drop anchor to avoid blocking navigation channels or disturbing marine life.

Watch Your Wake

Managing your wake is another important aspect of boating etiquette. In no-wake zones, which are often located near marinas, docks, and swimming areas, it’s important to reduce your speed to avoid creating large wakes.

This not only helps prevent damage but also ensures the safety of swimmers and smaller boats. Be mindful of your wake’s impact on others, particularly when passing near boats that are at anchor or operating at slow speeds.

Help Out When You Can

Boating fosters a sense of community, and part of that is being willing to lend a hand when needed. Whether it’s helping someone dock, offering assistance in an emergency, or sharing local knowledge, it can make a big difference.

Small gestures, like assisting with lines or providing directions, contribute to a supportive and friendly boating community. If you notice a boat in distress or someone who might need aid, don’t hesitate to check if they require assistance.

Dispose of Waste Properly

Keep our waterways clean by disposing of trash and waste properly. Never throw trash or other waste overboard; instead, use designated disposal facilities or bring waste back to shore.

Following local regulations for handling and disposing of sewage and other pollutants is essential for maintaining the health of our marine environment.

By being mindful of your waste, you help keep the waters clean and safe for wildlife and future generations.

Be Mindful of Fishing Boats

Fishing boats, whether anchored or trolling, often have lines in the water that can extend some distance from the boat.

Fishing boats often have lines that extend well beyond their vessel, so give them a wide berth to avoid snagging lines or disturbing their catch. If you’re passing through a popular fishing area, proceed slowly and respectfully.

Be Patient and Courteous

Lastly, practice patience and courtesy at all times. A friendly wave, a smile, and a respectful attitude go a long way in creating a positive atmosphere on the water.

In busy marinas or popular boating spots, practice patience by waiting your turn and avoiding rushing or cutting in line at docks or ramps.

Maintaining a positive attitude and showing respect to fellow boaters contributes to a supportive boating community.

Protect Your Boating Experience

At Portside Marine Insurance, we believe that understanding and practicing good boating etiquette not only enhances your experience but also helps keep everyone safe.

If you have any questions about your marine insurance needs or want to ensure you’re fully covered while enjoying the water, give us a call.

Our team is here to help you navigate the ins and outs of boating insurance, so you can focus on what matters most—enjoying your time on the water.

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How to get your Boating License in British Columbia

Anyone who has visited British Columbia has seen the stunning natural beauty of its coastline and lakes. It is the perfect spot to go boating, with locals and visitors alike enjoying endless days on the water. Speed boats, sailboats, jet skis, kayaks, and paddleboards all fill the waterways, it’s a boating paradise for everyone.

Looking to join in on the action, then you will need to get your BC boating license or Pleasure Craft Operator Card (PCOC) as they also call it. Good news! This is a one-time thing and your boating license never expires or needs to be renewed. You can get your boating license in just a few easy steps and go boating today!

Reasons to Get Your Boating License

One of the main reasons to get your Pleasure Craft Operator Card (PCOC) in British Columbia is that it’s the law. Anyone operating a boat in British Columbia or any province in Canada is required to have proof of competency which is the PCOC.

You won’t regret getting your boating license as the information you will study in the online course will help you understand the rules of the water and make you more confident when operating a boat.

Step 1: Finding a Boating License Provider

The first thing you want to do is choose a boating license provider that is Transport Canada-approved. Otherwise, all your studying will be for nothing unless the company has been accredited by Transport Canada.

Once you have chosen a provider, you will want to register to take their online boating safety course. The boating safety course generally takes a minimum of 3 hours to complete, this is the mandatory minimum study time set by Transport Canada.

The course is broken up into 5 chapters with a small multiple-choice quiz at the end of each chapter. You have up to one year to complete the course from once you have registered, so there is no rush – you can log in and out of the course and your progress will be saved.

Step 2: Take the Exam

After you have completed the course, it’s then time to take the online Transport Canada Pleasure Craft Operator Card exam.

The exam consists of 50 multiple-choice questions and you must get 38 out of 50 correct to pass the exam (78%). It is an open-book exam so you can always refer back to the course if you get stuck.

Don’t worry if you fail, you can retake the exam free of charge. If you fail the exam for the first time, you must wait for 24 hours before attempting to retake the exam again. Keep in mind that if you do fail the exam a second time, Transport Canada requires you to retake the boating safety course again (at no extra cost) before attempting the exam for the third time.

Step 3: Getting a Temporary Card

Once you have passed the Transport Canada exam you will immediately be able to print your temporary Pleasure Craft Operator Card at home and go boating straight away. This temporary PCOC, which is valid for 60days, allows you to get out on the water while waiting for your permanent PCOC to arrive in the mail. Make sure to keep this temporary PCOC with you while out on the water.

The boating license provider will mail out your permanent Pleasure Craft Operator Card to you within 1 week. Make sure whenever you are boating that you have your PCOC on board. The fine in British Columbia for not having a Pleasure Craft Operator card on you while operating a boat is $250.

Hopefully this helps you understand the pretty simple process of getting your boating license in British Columbia. Good luck and hopefully we will see you out on the water one of these days, enjoying the warm weather.

Don’t forget you are going to want to make sure you have boat insurance to protect your investment and ensure you get to create plenty of happy memories out on the water.

Click here to get a competitive quote with us that will give you peace of mind on the water.

Common Boat Insurance Terms

An image of a boat with two hands around it to symbolize boat insurance.

When you’re shopping for marine insurance, there are some common boat insurance terms you should be aware of. This guide reviews these terms so you know what they mean when you’re shopping for coverage.

Boat Insurance Terminology

It’s important to know common boat insurance terms when you’re shopping for marine insurance. Not only will knowing what these terms mean help you know what’s covered in your policy, but you can use them to customize your boat insurance policy to your needs.

Navigational Limits

When you see this term in your policy, it means that your coverage only applies if you operate your boat within defined zones. An example could be that you’re only allowed to travel a set number of miles away from shore or that you can’t exit your Canadian boundaries. Not knowing about these limits could lead to claims being denied if you’re outside navigational limits when an accident occurs.

Operators

The people whom you plan to allow to operate your boat are called the operators. It’s important to add everyone you plan on permitting to use your boat to your policy. The number of operators and each person’s information could determine your insurance rate.

Lay-up Period

If you’re planning to keep your boat stored somewhere for certain times of the year, you can save money on insurance through a lay-up period. This is a set time when you’re not going to use your boat, and your insurance won’t cover it during this time either. The most common lay-up period is during the winter when most people don’t plan on going boating.

Pollution Liability

This is a type of liability coverage that pays for cleaning up oil and fuel spills. If you’re responsible for gas or oil leaks, you may be held liable for the cost of cleaning the waters to protect marine life. Pollution liability covers you if you’re found at fault for a spill.

Towing Liability

If you’re going to use your boat to pull anything behind it, such as water skiers or other watercraft, this coverage is necessary. It protects you if you’re at fault for any accident that involves towing.

Emergency Services

The definition of emergency services can vary between insurance companies. Due to the ambiguity of this term, it’s best to make sure that your insurance company gives you a clear definition of what’s covered. In many cases, services such as recovering a lost boat or towing you to shore could be covered, among other things.

Date Restrictions

Like a lay-up period, date restrictions define when your boat isn’t covered. Some people find they can reduce their marine insurance payments if they purchase policies with date restrictions, but this also means that you’re not always free to plan your boating adventures on your own schedule. If you have date restrictions, there are specific dates you’re allowed to use your boat.

Brown Water

Brown water is a term that means the first five miles off the coast.

Blue Water

Once you leave brown water, you’re in blue water, which is any water more than five miles away from land.

Agreed Value

If you choose to take out a boat insurance policy with an agreed value provision, you’ll know the exact amount of money you can claim in a situation where you declare a total loss. You and your insurance company come up with an agreed value of your boat and any hardware you bring along before you take out the insurance policy.

This is a good way to ensure you can buy a new boat if you suffer a total loss. Without this policy provision, your insurance company will only compensate you for the current market value of your property, which could be significantly lower than you paid for it.

How to Read and Understand Boat Insurance Policies

There isn’t any standard boat insurance policy, so it’s easy to purchase coverage without knowing what you’re getting. This is why you need to take the time to read your policy before you purchase it. When reviewing the policy, consider the following:

Is It Liability Only?

Liability coverage protects you from being sued when your missteps lead to injury or property damage. If your policy only covers personal liability, however, you’re on the hook for the cost of repairing or replacing your own property.

What Are the Coverage Conditions?

Coverage conditions include things like date restrictions, navigational limits and the covered operators. It’s important to understand what limits your policy has because if you don’t abide by the rules, the policy becomes useless.

Other conditions not mentioned in the terms above might include whether you’re allowed to use your boat for private or commercial use and if you can live on your boat during the layup period.

How Is Your Property Valued?

It’s important to review whether your policy is an agreed-value policy or an actual cash-value policy. This lets you know what you could expect if you need to file a claim after an accident. While actual cash value policies are cheaper upfront, they could be costlier if you need to file a claim.

What’s Excluded?

There are some things that your insurance won’t cover, such as if your boat is damaged due to your own negligence, an act of fraud. Poorly maintaining your boat, wear and tear and operating in freezing weather are other common exclusions.

Your Deductible

Marine insurance comes with a deductible. This is your responsibility when you’re in an accident. For example, if you have a $1,000 deductible and the cost of repairs is $5,000, your insurance would only pay $4,000.

Let Portside Insurance Find the Perfect Policy for You

Navigating the complexities of boat insurance can be frustrating. This is where we come in at Portside Insurance. We can help you find the perfect policy to suit your needs, and help you understand all the terminology in the process. Contact us today to get started.

7 Benefits of Having Reliable Boat Insurance

Securing dependable insurance can often be a challenging endeavour, be it for your home, car, or your beloved boat. Surprisingly, boat insurance is frequently overlooked, as individuals fail to grasp the significance of safeguarding themselves while venturing onto the water. In this comprehensive guide, we shed light on the seven remarkable advantages that come with acquiring reliable boat insurance. Spoiler alert: It’s just as important as your home and auto policies.

What is Boat Insurance?

Boat insurance is coverage for anyone who owns and operates a boat, whether for pleasure or business. The benefits of boat insurance are similar to having car insurance when hitting the road. If you purchase reliable insurance, you can save a lot of money if you ever find yourself in a situation where unexpected events strike and you suffer a personal injury, or your boat is damaged or destroyed.

Why is Boat Insurance Important?

Unlike auto insurance, boat insurance isn’t mandatory in Canada. Many people believe that it should be. Boat insurance is not just crucial for coverage during unexpected events, but it’s also a stipulation set by many marinas and lenders. Marinas require proof of insurance before they allow you to store your vessel, and lenders need this proof when you’re obtaining a loan for a new boat.

Having insurance benefits you in the following ways:

1. Peace of Mind

Getting into an accident could not only cost you your boat, but it could put you at risk of being sued if you were at fault. Having reliable insurance ensures you’re covered regardless of whether you need to repair or replace your vessel or if you’re on the hook for someone else’s medical bills or boat damage. The peace of mind you get from having protection from these risks is invaluable.

2. Cost-Effective

If you think that you can put away some money on your own to protect yourself from a boating accident, you might want to think twice about it. If you’re at fault for an accident, it’s possible for you to be required to pay hundreds of thousands of dollars, if not more. Paying a monthly premium is a safe trade-off that could save you from emptying out your pockets.

3. Protection from Impact Damage

Impact damage on a boat can include contact with objects like shoals, rocks, deadheads, and other submerged items or collisions with other vessels and structures. Some accidents may simply leave unsightly dents behind, while others may render your watercraft inoperable. Having boat insurance allows you to be able to make the repairs needed to get back on the water quickly.

4. Protection from Theft

Boat insurance policies can have your back when it comes to thieves. This means that if your boat is stolen, you could file a claim to help replace it. In many cases, no amount of planning and saving can protect you from theft, so having boat insurance is an excellent way to protect your investment. Keep in mind that your claim may not be approved if you were careless in securing your vessel.

5. Covers You in the Event of a Physical Injury

If you’re injured in a boating accident, you may need to pay expensive medical bills during your recovery. Regardless of who’s at fault, you could be on the hook if neither party has boat insurance. Your boat insurance can include coverage for your own injuries and those of your passengers.

If you have reliable health coverage, remember that it could have limits, and boat insurance can cover the difference. Keep in mind that your health insurance doesn’t cover any passengers in the boat, so you need to consider whether you’re able to pay for their medical needs in the event of an accident.

6. Protection in Other Unforeseen Circumstances

There is a lot that can go wrong in life, especially on the water. For example, you could be in the wrong place at the wrong time. If you’re on the lake when a severe storm hits, you could lose your boat before the storm passes. Insurance coverage allows you to replace what’s lost, just like if you were insuring a vehicle on land.

7. Can Cover You if You’re Found Liable in an Accident

Personal liability for a boating accident can significantly threaten your financial independence. If you’re found liable for a boating accident, the victim may sue you for damages. If you’re unable to pay from your savings, you could lose your assets to pay the judgment against you. Having boat insurance can ensure you’re able to settle with the other party without losing your home or savings.

How to Tell if You Have Reliable Boat Insurance

How do you know if your boat insurance coverage is enough to protect you? The following tips can ensure you receive the best possible coverage.

Work with an insurance broker who specializes in boat coverage. Not only will your broker be able to get you multiple quotes from leading insurance companies, but they will also know the ins and outs of the industry. This ensures you get a great deal.
Work with a broker that takes the time to answer your questions, guides you through the process and gives you options customized to your needs and concerns.
Make sure your policy includes liability coverage, as this is the most critical type of insurance coverage you need.
Read the exclusions to make sure that you’re still covered in the event of theft, storm damage or personal injury.
Look for a policy that allows you to add comprehensive coverage so you can repair your own boat or be insured for the “extras.”

Get Reliable Insurance with Portside Marine Insurance

At Portside Insurance, we take the time to collaborate with our clients and put together boat insurance policies that reflect their needs and budget. Insurance is not a one-size-fits-all proposition.

Want to find the best deal on the boat insurance coverage you need? Contact us today so we can learn more about your needs and budget. We’ll get to work on finding you the best coverage available.

Five Tips on How to Get the Best Boat Insurance in Ontario

If you’re a boat owner in Ontario looking for the best insurance coverage to protect your investment, having the proper techniques under your belt when you’re shopping is essential. Whether you’re a seasoned boater or just starting out, it’s crucial to have insurance that will cover you in case of an accident or damage to your watercraft. But with so many options out there, it can be tough to know where to start.

We put together a guide with tips on how to get the best boat insurance in Ontario, covering everything from understanding your coverage options and the factors that affect your premium to getting quotes and working with the right experts.

1. Know Your Coverage Options

When it comes to boat insurance in Ontario, there are different options available to protect your investment. Understanding these choices is crucial to selecting the right one for your needs.

Most policies offer the following coverages and have customizations and add-ons:

Collision coverage: Covers damage to your boat in case of a collision with another vessel or object.
Liability: This can protect you if you’re found responsible for injuring someone or damaging their property while using your boat.
Comprehensive coverage: This covers non-collision incidents like theft, vandalism, or weather-related damage. This can also include emergency services, such as towing.
Other coverage: Other options may be available to add to your policy, like personal property coverage.

It’s essential to select the right coverage for your needs and budget. For example, if you keep many high-valuable items in your boat, personal property coverage may be a priority add-on.

2. Understand the Factors that Affect Your Premium

Understanding the factors that affect your boat insurance premium in Ontario can help you make informed decisions when shopping for coverage. Here are some key factors to consider:

Boat type: The type of boat you own can impact your insurance premium. Generally, larger and more powerful vessels cost more to insure than smaller ones.
Use purposes: The purpose of your boat use can impact how much you’ll pay in premiums. For example, you may face higher rates if you use your watercraft for commercial purposes.
Location: Local weather conditions and location-specific boating trends, like incident frequencies and crime rates, can affect your insurance rates.
Additional features: Other onboard features, like GPS devices, depth finders, and alarm systems, can reduce your insurance rates.
Claims history: If you have a paper trail of making claims on your boat insurance policy, you may face higher premiums.

Consider these factors when shopping for the best boat insurance in Ontario. If you’re getting quotes from different insurers, try to provide precise and detailed information about your boat, usage, and location. By doing so, you can get a more accurate picture of the insurance cost for your specific situation.

3. Get a Quote

Getting a quote is essential to understand the various boat insurance rates available. These estimates allow you to compare insurance coverage and pricing from different insurers. This can help you find the policy that offers the optimal value for your money. Additionally, getting a quote can give you a better idea of what to expect in terms of costs. Here are some tips to keep in mind when seeking estimates:

Provide detailed information about your situation, keeping in mind the factors that impact insurance premiums, as discussed above.
Ask questions — this can include asking about specific coverage, potential discounts, and the claims process.

4. Maintain a Good Boating Record

If you have a clean record, insurers will see you as “lower risk,” which often results in lower premiums. No claims or accidents in your name demonstrate that you’re a responsible boater and less likely to file a claim. Therefore, maintaining a good boating record can help you get the best boat insurance in Ontario. Here are some tips for safe boating:

Consider taking boating safety courses.
Check the weather conditions and water levels before setting sail.
Maintain and inspect your boat regularly.
Avoid operating your vessel under the influence.
Ensure you and all passengers wear proper safety gear, like life jackets.
Have a float plan and tell someone your intended route, destination, and estimated return time.

If you are involved in an accident or have to make a claim, reporting it as soon as possible is essential.

5. Work with an Experienced Insurance Broker

At Portside Marine Insurance, we work closely with local insurance brokers to help you get the policy you need for a stress-free boating experience. Enlisting the help of an experienced insurance broker who specializes in boat insurance can be highly beneficial. Here’s why:

They have a wealth of knowledge: Brokers specializing in boat insurance know the ins and outs of both the insurance and boating industries. They can help you navigate this complex world, understand your coverage options, and find the best policy for your needs and budget.
They offer personalized service: Brokers find the best options on your behalf. You can save time on personal research because they will make an effort to understand your situation and find policies that suit your unique needs.

When selecting an insurance broker, look for someone licensed with a good reputation. Consider asking for referrals from friends, family, or other boat owners. Additionally, ensure these experts have experience working with boat owners and understand the unique insurance needs of this industry. Insurance brokers that don’t specialize in boat policies may offer bundling options without the expertise to ensure you’re covered for all unique and complex scenarios.

Find the Best Boat Insurance in Ontario

While boat insurance is not legally required in Ontario, it’s essential for any watercraft owner because it provides peace of mind and coverage for accidents, theft, or other unexpected events. You can find the best policies for your unique circumstances by following these tips.

At Portside Marine Insurance, we offer customizable boat insurance policies to help you protect your precious investment. Get a quote or contact us today to get started and explore your options.

5 Common Boating Insurance Claims

We can’t think of a better pastime than breathing in the fresh outdoor air while riding the waves in your watercraft. However, as with any outdoor activity, there can be risks involved. Having the right insurance coverage can give you peace of mind and protect you from financial loss in the event of an accident or incident. In this blog post, we’ll take a look at common boat insurance claims and provide some advice on what you can do to prevent them.

Hitting an Object in the Water

One of the most common boating insurance claims is damage caused by hitting floating or submerged objects in the water. These objects can include logs, rocks, and other debris and can especially be a problem in low-visibility conditions and shallow water. While running into these objects can lead to minor scars on your watercraft, it can also cause mechanical failure, damage to the hull and propellers, or even sinking.

Even the most experienced boaters may run into this issue because floating or submerged rocks and logs can be challenging to locate. To prevent hitting these the next time you set sail, ensure you do the following:

Do your research before heading out: Research or ask around to find out if any known areas on the lake or body of water have lots of debris or objects. This way, you can stay clear of these spots.
Go boating with another person: Sometimes, catching everything with one set of eyes can be challenging. Bringing a second person with you can help point out anything in your path while you drive.
Get a marine radar: These are valuable tools that detect objects around you. They send out a radio wave and bounce back when it hits an object, giving you a rough estimate of where it is relative to your position.
Go slow in unfamiliar water: If you’re trying out a new spot, go slower than you usually would. This practice simply allows you to keep a closer eye on any objects that may obstruct your path.

Damage from the Dock

Damage from docking can happen to anyone, whether you come to shore during a strong wind storm or simply miscalculate your incoming speed on a calm day. If the force is great enough, you may see structural damage, like a hole in the hull, destruction to electrical wiring, or a bent propeller. Here are some ways you can prevent this incident from occurring:

Use bumpers or fenders to absorb the impact
Use a boat cover at your storage facility to cushion any movement
Practice docking in calm conditions before attempting in more intense weather

Weather-Related Damage

During boating season, extreme conditions like high winds, lightning, hail or heavy rain storms can shake up your watercraft, whether you’re out on the water or your vessel is tied to a dock. Weather-related damage can range from minor scratches to body destruction.

If you live in a particularly stormy area or know one is coming in the forecast, double-check that your boat is secured and covered. To avoid mishaps while on the water, check the forecast before you head out, including wind speeds, wave height, and any signs of storms. As a general rule of thumb, try to wait out the bad weather for the safety of you and your vessel.

Keep in mind that even during the off-season, you must protect your boat during the cold Canadian winters. Here are some situations that could lead to damage and insurance claims:

Improper boat covering: If you don’t protect your boat with a custom, quality cover, snow and ice can accumulate, and water can pool inside. Additionally, not allowing enough ventilation can cause mould growth.
Not draining the engine of water: Frozen or cracked engine blocks can happen due to improper winterizing practices. To prevent this, after draining, add antifreeze.
Storing your boat in the water: When water freezes around a vessel left in the water, the ice can grind against the hull and even crack and sink it. Ensure that your boat is entirely out of the water or stored on dry land to avoid this.

Theft

Theft of boats and belongings is also among common boating insurance claims. While not all thefts are predictable or preventable, your storage practices and security measures play a massive role in keeping your vessel safe. Here are some tips to help you prevent theft:

Lock your boat, including the steering wheel, and use heavy-duty locks on your outboard motor.
Install motion detectors and GPS tracking systems (At Portside Marine Insurance, we even offer a 10% discount on insurance for boats that have a GPS tracking system)
Store your watercraft in a secure place, such as behind a locked gate or in a trusted storage facility.
Detach outboard engines and store these indoors in a secure place.
If you store your boat at home or on a driveway, block it in with another vehicle or obstacle.
Keep an inventory of items on your boat so it’s easier to identify anything missing.

Collisions

Collisions with other vessels can cause more significant damage than when you hit fixed, submerged, or floating objects. This type of claim can be especially common in crowded boating areas like lakes and rivers. Accidents like this can happen if:

Operators on board are inexperienced or negligent while driving the boat.
Your vessel experiences a mechanical failure that’s out of your control, causing the inability to stop or steer in time.
You’re not paying attention to your surroundings.
You operate your watercraft at an unsafe speed. Pay attention to any posted speed regulations and use your judgment to ensure you’re not driving faster than you can react.
You drive while under the influence. Remember, this is both illegal and can cause severe injury or even death.

Helping You Get the Coverage You Need

At Portside Marine Insurance, we understand that accidents happen. That’s why we offer comprehensive coverage plans for your peace of mind so that you can continue enjoying your time on the water. If you’re ready to explore policies or need more advice on boat insurance claims, contact us today!