Select Page

What You Need To Know About Boat Insurance

Leibel Insurance Group

Toll Free: (855) 906-6351
Edmonton Local: 780-484-8880
Calgary Local: (403) 910-1848
Fax: (780) 484-7879
Email: [email protected]

Contact Us Today

[activedemand_form id=”15170″]


There’s no better time than now to be out on your boat, enjoying the water and sunshine. Don’t let searching for the right boat insurance get in the way of your summer! Leibel Insurance brokers are the experts in finding the right boat insurance for our clients to ensure they get back to the boating season much sooner. There are a few important key factors to know about boat insurance that every boat owner should know. It’s also paramount to boating safety to be informed on your boat insurance plan and how you’re protected.

In this article, we’ll cover everything you need to know about boat insurance and how it protects boat owners’ safety and manages their additional boating fees.

1. Type Of Boat Dictates Insurance

The type of boat you own can certainly dictate how it becomes insured. The coverage and costs are often based by:

  • Smaller boats, including canoes, kayaks, fishing boats, could all be covered under property insurance policies.
  • Larger or more expensive bass boats, cabin cruisers, bowriders and pontoon boats can all be insured under home insurance when deemed a scheduled property. A different rate would also be charged and the boat insured to complete value.
  • For people with more serious boats, such as sailboats, speed boats, yachts or boats designed for coastal travel should be covered under the boater’s own separate policy.

2. Ways To Save On Boat Insurance

There are several ways to save money on your boat insurance policy. One example is by taking a boating class or a boating safety program to educate yourself on boating safety and how to prevent risks while on the water. You can discuss this with your insurance company to help determine what type of program will help reduce your insurance rate. As stated previously, the type of boat you own will influence your insurance cost. Be specific when listing the year, make and model of your boat to obtain the most accurate insurance quote that is most suitable for you. Your insurance premium can also be significantly lowered if you have certain safety equipment and precautions on the boat, such as a fire extinguisher, ship-to-shore radio and tether.

3. Coverage Duration and Area

Although most insurance policy terms generally last over a 12-month period, it is common for boat policies to have lay-up periods where the boat must be on land and off water. A typical time period will last from December 1st to April 1st. If the boat is used during this time on the water, then the boat owner will not be covered. A typical boat insurance premium will only cover a boat owner within Canada and some areas of the USA. If you plan to navigate your boat outside of these areas, you will have to discuss this with your broker to see which areas you are covered and where you do not have coverage.

Leibel Insurance boat insurance in Toronto keeps boat owners afloat, regardless of what type of boat you own. Get the protection you need and have peace of mind. Contact us to get your online policy in minutes.

For Your Sake, Don’t Wait!

Find out how much you can benefit from switching today.

Let's Connect

How Would You Like to Connect?

Let's Connect

[activedemand_form id='14879']

Let's Connect

How Would You Like to Connect?

Let's Connect

[activedemand_form id='14879']
[activedemand_form id='14879']
[activedemand_form id='15193']