Boat Insurance in Ontario

BATMAN · **Posted:** Tue Nov 10, 2020 11:02 am

I have always questioned why boat insurance is not mandatory in Ontario. Personally, I support the use of insurance to cover my boating investment and liability needs. I believe at least Liability insurance should be mandatory to cover yourself and other you may hurt during an accident.

What do you think?

BATMAN

BigMac · **Joined:** Fri Nov 28, 2008 5:18 pm **Posts:** 1383

Anyone with a decent rig has it Insured I would think. I certainly do.

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polliwogg · **Posted:** Tue Nov 10, 2020 6:45 pm

I didn't see a lot of risk to cover with the boat on the lawn all summer.

Fry Flier · **Posted:** Tue Nov 10, 2020 8:02 pm

You have two types of insurance available to you for your boat.
1) INCLUDE IN-HOME INSURANCE, THIS IS ME. Gives me liability if needed but quite cheap. This will let me fish and use my insurance if needed, it will also raise my home claim rate if used.
2) separate boat policy which will cost quite a bit more but will not affect your home policy if used for a claim against or for your boat.

biff · **Joined:** Sat Sep 10, 2011 6:30 pm **Posts:** 451

boat insurance is a racket, save your money. Last time i talked to insurance company they had no idea what it covered.

mitch · **Posted:** Wed Nov 11, 2020 8:08 am

My friend had his boat damaged by raccoons while in winter storage. Several thousands of dollars worth of damage fully covered by insurance. It was worthwhile for him.

biff · **Joined:** Sat Sep 10, 2011 6:30 pm **Posts:** 451

Its funny you mention that, i did have a raccoon chew my seat up once...

trophycraft · **Posted:** Wed Nov 11, 2020 8:49 pm

Boat insurance is expensive but worth while. Especially if you have a claim!

Bassn51 · **Posted:** Thu Nov 12, 2020 7:39 am

I've had mine through OFAH (Intact Insurance) for years, very reasonable and were great for the one claim I've had. My son smashed the lower unit, when I spoke to the adjuster he said email a picture along with the information and I had the go ahead to replace within five days of my claim. I have been accused of being thrifty over the years and I shop my insurances every other year and have been with these guys for over twenty years.

D-wayne · **Posted:** Sun Nov 15, 2020 7:19 am

I was suprised to learn that just being on the water makes you 10% liable for any accident you are involved in... lawyers are brutal. That being said insurance coverage does help and typically covers litigation costs.
One of the cheapest insurance coverage is being a member of the OFAH. It covers you anytime you are involved in angling or hunting activities against liabilities. This isn't boat insurance but does help if you and/or your boat damage something.
As for all boats being insured... the feds want all watercraft to be licensed (with yearly fees)

polliwogg · **Posted:** Sun Nov 15, 2020 3:07 pm

Canadian power and sail squadrons members can get insurance made for boaters by boaters. Some insurers will give a discount if you have had some safety courses.

Travellers · **Joined:** Wed Apr 29, 2020 3:53 pm **Posts:** 2

Not all insurance include animal damage, I too had a great deal of racoon damage that cost over 12,000 dollar damage. It was in a location which I had stored for five years, no problem until the 5th year. I was very happy that I had the extra coverage.

joejohn ston · **Joined:** Thu Oct 29, 2015 11:05 am **Posts:** 6

Insurance for a fishing boat is a waste of money. Your boat is covered under your car insurance on the way to the boat ramp and I believe house insurance when its at home. Therefore when would you have a claim? The one in a million chance that your boat catches fire on the water? More like 1 in a 100 million chance. Worst case, you hit a rock and require a new prop. for a few hundred dollars. Keep wasting your money people.

bigbassin18 · **Joined:** Mon Jan 07, 2013 9:55 pm **Posts:** 429

So I am hear to tell you that having boat insurance is not a waste of time. So. 2 years ago out bass boat blew apart after hitting a wave. Cause damage at the gunnel to the cap of the boat also with gel coat issues the list goes on. So. We figured the insurance that we pay would cover it. No it didn’t. We told them no we didn’t hit anything it was just hitting a wave wrong and everything. And there come back is. That a boat hitting a wave is natural and that is not covered under the insurance policy. Trust me we fought it. If we would of hit a log or a bouy or anything it would of been covered. It cost us 8000 to get our boat out of repairs. So. Look into your boat policies and everything to double check what it covers after putting money into boat insurance

BigMac · **Joined:** Fri Nov 28, 2008 5:18 pm **Posts:** 1383

joejohn ston wrote:

Insurance for a fishing boat is a waste of money. Your boat is covered under your car insurance on the way to the boat ramp and I believe house insurance when its at home. Therefore when would you have a claim? The one in a million chance that your boat catches fire on the water? More like 1 in a 100 million chance. Worst case, you hit a rock and require a new prop. for a few hundred dollars. Keep wasting your money people.

I’m pretty sure your home policy will not cover your boat if it’s stolen from your driveway, just like it wouldn’t cover your car.

Not to mention the personal liability of what happens if there was ever an accident on the water.

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Boat Insurance in Ontario

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