Perhaps because we have less of it than most other provinces, Albertans love water. There’s no better way to spend one of our lovely summer days than tooling around in a boat – fishing, water skiing, exploring, and just plain enjoying the sun.
To keep the warm days carefree, we can help you find the best boat insurance possible. As experienced insurance brokers, we are able to contrast and compare policies to access superior protection at excellent rates. Sail, cruise, and motor along without a worry with exceptional boat insurance coverage.
What Your Boat Insurance Should Include
We recommend boat insurance policies that include the following features:
- Agreed value. This is the amount of money you and your insurer agree upon that your boat is worth. Be prepared to provide proof of purchase. We can help you negotiate on this number, as it is very important for making sure you have the right amount of coverage. You may also choose actual cash value or liability only.
- Uninsured boater or vessel coverage. This part of your boat insurance helps you to recoup costs associated with injuries and damage to your boat should the other party (who is at fault) not have valid coverage.
- Accident benefits and medical coverage. This will cover you should you cause an accident that results in yourself or someone else getting hurt.
- Personal effects. This is your coverage for your life jackets, sporting equipment, and other personal property that you keep in your vessel.
- Emergency assistance for if your boat breaks down, you get lost, or another incident occurs when you need help.
- Broad navigation limits. This allows you to take your boat throughout Canada and usually into the northern United States as well.
- Loss of use coverage. This will provide you with a replacement vessel should you lose the use of yours for some time.
- Watersports liability. This assists with medical and litigation costs should somebody be injured while you are using your boat for sporting activities such as waterskiing.
Some additional coverages you may want to consider include:
- Guaranteed replacement cost. This type of boat insurance costs a bit more, but it guarantees your vessel will be replaced with a new one should something happen to yours.
- Expanded navigation territory. Feel like sailing to Mexico or South America? You can with expanded navigation territory insurance.
- Incidental use. If you often use your boat for entertaining for business or for volunteer work (such as entertaining underprivileged kids), incidental use is an option.
- Increased personal effects. If you have a lot of sporting and fishing equipment, plus apparel, you may want to consider increasing your personal effects coverage.
- Increased loss of use. If the loss of use of your boat will impact you severely, such as you won’t be able to get around at all, you can up your loss of use coverage to include cash for taxis, public transit, etc.
Available Discounts for Boat Insurance
- Combining your home, auto, boat and any other policies with the same company may result in a discount. Combining policies can also get you claims forgiveness and a deductible waiver included in your policy.
- If you complete nautical training above and beyond being properly licensed with a Pleasure Craft Operator Card, you may earn yourself a discount. Ask your provider what this may entail.
- Keep your boat safe and secure by storing it in a dry dock during the off months and you may get money off your policy.
- Staying claims-free, as usual, will help keep your premiums low.
Types of Vessels Covered By Boat Insurance
The best boat insurance is comprehensive about the types of watercraft it includes. If your boat isn’t included in this list, we can help you find coverage for it.
- Fishing boats
- Cuddy cabin boat
- Personal watercraft
Make Sure You Have Everything You Need Before Hitting the Water This Season
If you want to make the most of your time on the water, it’s always best to do things by the book. Start by making sure that you have your Pleasure Craft Operator Card, which is required for anyone who operates a powered watercraft and is valid in any province once you obtain it.
Avoid These Common Fines
You’ll also want to brush up on the most common watercraft-related fines, and how to avoid them.
- Lifejackets – The fine for not having enough lifejackets on board is $200, and lifejackets really do save lives. Check the regulations, and make sure you always have the right number.
- Careless Operation – Operating your watercraft carelessly comes with a fine of $200, with the potential for significantly higher costs. Speeding will add another $100 to the tab, and significantly increase your chances of an accident.
- Underage Operation – There’s no getting around the age requirements for who can legally operate a boat. They are strict, and testing the waters is an expensive proposition. The owner of the boat can expect a $250 fine for allowing underage operation, while the underage operator faces a fine of $100.
Trust Lane’s for All of Your Alberta Insurance Needs
Lane’s is a brokerage, meaning that its representatives work for you, not for the insurance companies. You can always be confident that you’re getting advice that’s protecting your best interests, not the interests of the insurance providers.
If you’d like to learn more about Lane’s Insurance, or if you’d like to get a quote, please contact us. We operate in: