We have insurance for all kinds of boats
Great insurance options for your Ontario watercraft, including:
- Fishing or sail boats
- Catamarans
- Pontoon boats
- Cabin cruisers
- Trawlers
- Jet-skis
- Seadoos
How much is boat insurance in Ontario?
Rates range from around $320 a year for a boat worth $20,000 to approximately $1,500 for a boat worth $100,000 or more. There are a number of things that influence rates like the size of your boat and motor, the value of your boat, where you use and store it, and how far you travel with it. No matter what kind of boat you have, we’ll get you great coverage.
As a trusted brokerage for over 70 of Canada’s best insurance companies, we have access to some of the best boat insurance coverages and rates around.
What are the license requirements for operating a boat in Ontario
To drive any boat with a motor, you need to have a Pleasure Craft Operator Card (PCOC). The PCOC test costs about $50 and can be taken online. Once you’ve received your PCOC, it’s valid for life and does not need to be renewed. You’re required to have your PCOC with you at all times while operating a watercraft in Ontario.
What does boat and watercraft insurance cover in Ontario?
Most standard boat and watercraft policies cover the following:
Theft of the watercraft
Damage from impact or collision
Liability for injuries that occur on the boat
The cost of a rental boat if yours is damaged
Emergency towing costs
Lifejackets, water skis, fishing equipment and other personal belongings that are kept on the boat
What is not covered by boat and watercraft insurance in Ontario?
Most standard boat and watercraft policies exclude the following:
Taking trips beyond Canada and the U.S.
Costs related to regular boat maintenance
Damage due to regular wear-and-tear
Damage due to improper winter care
Frequently asked questions about boat insurance:
Is boat insurance required in Ontario?
No, you’re not currently required to have insurance for your boat or watercraft in Ontario.
Do I need to be a certain age to get boat insurance?
Only the person who owns or leases the boat can get insurance on it, but coverage can extend to other drivers with the owners permission if they have the required permits. That said, you need to be at least 12 years old to operate a boat with 10-40 hp and at least 16 to operate a boat over 40 hp in Ontario. Ask your broker whether your policy has additional age and experience requirements for drivers.
Do I need boat insurance in the winter?
Yes. Even if your boat is stored for the winter, it’s still at risk for damage related to fire, vandalism, extreme weather and the possible negligence of the storage facility. It’s not common, but it could also be stolen. Cancelling in the winter won’t save you any money anyway, because insurance companies charge you the majority of your premium for the summer months.
How much is the deductible on boat insurance?
Deductibles can vary and often depend on the value of the boat. Deductibles range from $500 to $5,000, or in some cases are a percentage of the boat’s value (1 to 5%).
Why choose Mitch?
As a brokerage for over 70 of Canada’s best insurance companies, we have every kind of insurance you need, at some of the best prices around to boot. You’ll never have to look around to compare coverage and rates again! Want to learn more about Mitch? Check it out!
