All You Need to Know About B.C. Boat Insurance
Your Boat
When you get boat insurance in B.C., it protects your boat and its motor, boating equipment, and boating accessories like lifejackets, GPS, and depth sounders, among many other items.
Liability
Liability insurance for your B.C. boat helps protect you financially if you injure or cause the death of someone or cause damage to another person’s boat or property while you’re operating your boat.
It’s recommended that you have a minimum of $3 million in liability insurance coverage as part of your marine insurance policy to protect yourself as a boat owner in British Columbia.
Your Property
Marine insurance helps protect your personal items and your passengers’ personal items and water toys while you’re on board against insured risks such as damage and theft.
Boat on the most beautiful lakes in British Columbia
Is boat insurance mandatory in British Columbia?
No, boat insurance is not mandatory in B.C. Your lender may ask that your boat be insured as a condition of financing your boat. If you are mooring at a marina, you may be required to carry a certain amount of liability insurance.
Do I have to take a boating safety course in B.C?
Yes, you do. If you operate a power-driven boat in Canada, you need proof of competency to show you understand the basic rules of boating and how to safely operate a boat. The most common proof of competency is the Pleasure Craft Operator Card (PCOC). You can get the card by taking a boating safety course in-person or online and passing the test at the end of the course.
Do I need to winterize my boat if I have boat insurance in B.C.?
Most boat insurance policies require winterization as a condition of coverage. Failing to winterize your boat may result in a loss of coverage or denial of claims related to damage that could have been prevented through proper winterization.
What is the difference between agreed value and actual cash value?
If you choose an agreed value policy, your boat insurance provider agrees to honour the value of your boat at the time the boat policy was written. That is the amount you will receive if you have a total loss. There is usually a time limit for agreed value coverage.
An actual cash value policy on your B.C. boat insurance will pay you the replacement cost of the boat in the event of a loss. Depreciation, damage, and wear and tear are factored into the actual cash value you will receive.
Does boat insurance cover trailering my boat?
Typically, a marine insurance policy will cover physical damage to your boat while it’s being trailered and your car insurance policy will cover liability losses. For example, if you are trailering your boat and a vehicle rear-ends your boat and damages it, the marine policy will respond. If your trailer side swipes a motorist, causing damage to their vehicle, your car policy would typically deal with it.
How can I save on boat insurance?
You can choose a higher deductible for your B.C. boat insurance. When you choose a higher deductible, though, you are accepting more risk and will be covering more of a loss yourself.
Stay claim-free. Take boating courses.
How much liability insurance do I need for my B.C. boat?
It’s recommended that you have a minimum $3 million in liability coverage for your boat.
Do I need year-round boat insurance in British Columbia?
Year-round insurance is recommended because over the winter there can be rodent damage, snow-load damage or storm damage, or theft and vandalism.
I’m storing my boat at a B.C. marina for the winter. Do I need insurance?
Many marinas and storage facilities require boat owners to have insurance coverage to allow them to dock or store their boats on their premises.
Do I need to carry proof of insurance on my boat?
No, because it is not required by law. Motorized boat operators of all ages in British Columbia are required to obtain and carry a B.C. boating license (officially known as a Pleasure Craft Operator Card or PCOC).
Does my B.C. home insurance cover my boat?
It would not provide sufficient coverage for your boat. Your B.C. home insurance policy typically offers limited coverage for small boats, such as canoes or rowboats, but this coverage can be subject to specific conditions.
What isn’t covered by B.C. boat insurance?
- Wear and tear
- Racing and competitions
- Specialized accessories such as GPS, radar, fish finders
- Search and rescue and fire department charges
Why choose Western for your B.C. boat insurance?
Expertise
We are a leading Canadian insurance broker who works with our insurance partners to get you the best coverage options to protect your boat.
Competitive pricing
We offer competitive pricing to get you B.C. boat insurance at the best value for you.
Customer service
We are committed to providing excellent customer service and we are always available to answer any questions you may have about your boat insurance needs in British Columbia.
Convenience
We offer a range of online, phone, and in-person services, making it easy for you to get the B.C. marine insurance policy you need and to make changes as needed.
Boat Insurance Stories and Tips
September 16, 2024
What You Need to Know about Buying a Used Boat
Buying a boat from a private seller in B.C. requires some know-how because it can be a buyer beware situation. Unless…
ReadJuly 16, 2024
5 Myths About Boat Insurance You Should Know
Once you get boat insurance, everything’s covered, right? No, not exactly. Marine insurance protects you, your…
ReadJuly 4, 2024
How to file a boat insurance claim
A boating incident or accident can happen anytime. For your peace of mind, you should get boat insurance coverage aga…
Read