Watercraft Insurance – Relax, We’ve Got You Covered

Did you know that Ontario means “Shining Water” in Iroquois and is blessed to have over 250,000 lakes and rivers to explore?  We have all heard the saying “I’d rather be boating” and at Mason Insurance, we want to make sure you are able to enjoy every moment on the water.  Our brokers take the time to personalize your watercraft insurance coverage to match your boating lifestyle.  Whether you are cruising the open waters, bobbing in the sunshine or fishing from the deck of your houseboat, we will make sure you and your boat are protected.     At Mason Insurance, our experts understand that not all boats are created equal, and not all boat insurance policies offer the same coverage or protection.

We have years of experience offering insurance for boats of all types and sizes; cruisers, runabouts, bowriders, pontoons, fishing boats, sail boats and personal watercrafts (jet skis or seadoos).  There are so many different factors that can affect your watercraft rating, coverage and premiums, so let our experts do the hard part so you can relax and sail away.

Watercraft Insurance

The benefits of insuring your boat on a specialized policy.

Boating can offer you a great escape but an unexpected loss can result in significant out of pocket expenses.  Knowing you have the right insurance coverage can bring peace of mind.  Our brokers understand the difference between insuring your boat on a stand-alone marine insurance policy and coverage for a watercraft on a home or cottage (property) insurance policy.  Often boat owners will add their watercrafts to their property policy without realizing there is a specialized marine insurance policy available.

There are often limitations or exclusions on a property policy which may not cover losses such as vandalism, collision, fire, theft, watersports liability, loss of use, accidental pollution liability, emergency towing, vermin damage, wreck recovery or personal items coverage.  It is also important to consider that a claim on your watercraft can impact your home insurance premiums, rating and eligibility when they are insured on the same policy.  A specialized watercraft policy will offer better coverage for you and your watercraft at competitive rates.  Mason Insurance can customize a policy that’s right for you.

Different classes of watercraft and associated coverages

Did you know that a regular runabout/bowrider is insured differently than a jet ski? Or a Cabin cruiser differently from a Sailboat? They are all insured differently due to the liability risk and use that is specific with each unique class. Your watercraft insurance cost is not only impacted by the value of your boat and its speed but include your navigation area, storage location, ownership experience, motor vehicle record, safety equipment and boating education courses.  Watercraft insurance, though not mandatory, can protect you and your boat from damage, liability and other unforeseen events if a claim were to arise. This includes injuries to people and/or damage to their property caused by your boat.

Coverage can include:

  • Hull and machinery – protecting your boat and the attached equipment
  • Liability – protecting you against property damage and bodily injury, including investigating a loss and preparing your defence.
  • Medical Payments – provides incidental medical expenses due to an accident
  • All perils – protecting your boat from collision, fire, theft, vermin and vandalism
  • Personal effects, emergency towing & loss of use, pollution and wreck removal

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