Boat Insurance in Ontario

cannitro482 · **Posted:** Thu Nov 19, 2020 5:38 am

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.

It is not a waste of time. I know my home policy will cover up to $2000 for my boat when it's at home but my boat is worth way more than that. Also your home policy won't pay liability if an accident happens on the water

So it's your choice , you can say it's a waste of money but don't whine when you're sued because you were responsible for that accident and you lose your home because you didn't have proper insurance .

GAP · **Joined:** Thu Jan 04, 2018 8:16 pm **Posts:** 223

FYI just in case some are not aware of this.

A boat policy does not cover it if it is being used between Nov 30th and April 1st. It must be "laid up on land and duly winterized" at that time to be covered. Not sure what that means if you were trailering it somewhere and got in an accident during that period. I meant to ask my agent. Also not sure if you can change the policy to cover the boat during that time. I will try to follow up.

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

GAP wrote:

FYI just in case some are not aware of this.

A boat policy does not cover it if it is being used between Nov 30th and April 1st. It must be "laid up on land and duly winterized" at that time to be covered. Not sure what that means if you were trailering it somewhere and got in an accident during that period. I meant to ask my agent. Also not sure if you can change the policy to cover the boat during that time. I will try to follow up.

Good idea to check policy. My old State Farm policy did not have a mandatory lay up period but my new one does. It doesn’t start until dec 15 though.

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Bassn51 · **Posted:** Thu Nov 19, 2020 9:31 am

if you believe your boat or any other toy is covered by your house insurance check with the company and get it in writing. When I asked about the best way to insure our fifth wheel and boat we got into a discussion about toys and luxury items (stereos, tools, jewelry etc). Our company sets a limit of $2500 coverage without a rider that specifically lists the item. They may still cover the items with original receipts but they are within their rights to decline or reduce payment. I've had to provide an inventory of all my tools and values and have them covered for an extra $17 a year. Don't assume anything with insurance companies, ask questions and get them in writing anyone who's had a significant claim will agree.

GottaLuv_it · **Joined:** Sat Mar 24, 2012 3:16 pm **Posts:** 23

I would add don't assume anything with insurance companies, banking institutions, and everyone's favorite Car sales people. Get it in Writing. :roll:

Bobv75 · **Joined:** Wed Oct 05, 2016 10:23 am **Posts:** 194

Not fair to lump car sales people with banks and insurance.

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polliwogg · **Posted:** Fri Nov 27, 2020 11:49 am

Your best insurance is to know what your doing, take a safe boating coarse.

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Boat Insurance in Ontario

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