find a broker

Find a Broker

FR

LoginMy Account
Western Financial Group Western Financial Group
  • Personal

    Home Insurance

    Home Insurance

    Condo Insurance

    Renter's Insurance

    Seasonal Property Insurance

    Mobile Home Insurance

    Vehicle Insurance

     

    Car Insurance

    Motorcycle Insurance

    RV Insurance

    Boat Insurance

    ATV Insurance

    Snowmobile Insurance

    Vehicle Replacement Insurance

    Health & Life Insurance

    Life Insurance

    Disability Insurance

    Critical Illness Insurance

    Mortgage Life Insurance

    Financial Insurance

     

    TFSA

    GICs

    RESPs

    RRSPs

    Travel Insurance

     
  • Business

    Commercial Insurance

     

    Business Insurance

    Business Life Insurance

    General Liability Insurance

    Commercial Property Insurance

    D&O Liability Insurance

    Rental Property Insurance

    Legal Protection Insurance

    Errors & Omissions Insurance

    Cyber Liability Insurance

    TotalProtect Insurance

    Fleet Insurance

    Farm Insurance

    Product Liability Insurance

    Employee Benefits

    Employee Benefits

    TotalGuard Insurance

    Group Insurance 

     

    All Insurance Programs

    ABLE Cannabis Insurance Program

    AMM Municipal Insurance Program

    CRA Insurance Program

    CVMA Insurance Program

    Crop Inputs Insurance Program

    Haven Municipal Insurance Program

    Hospitality Insurance Program

    Juno Restaurant Insurance

    BCRFA Restaurant Insurance

    Groupex Insurance Partnership

    CAM Movers Insurance

    Musical Instrument Insurance

    Independent Retail Insurance

    CAMA Insurance Program

    Biz Benefits Partnership

     

    Event Liability Insurance

     

    Charity Events or Fundraising Insurance

    Conferences and Conventions Insurance

    Corporate Events and Seminars Insurance

    Farmers’ Market Insurance

    Festival Insurance

    Hole-in-one Contest or Golf Tournaments Insurance

    Product Launches and Promotional Events Insurance

    Sporting Event Insurance

    Wedding Insurance

    Industries

    Cannabis

    Construction

    Contractors

    Daycares

    Greenhouses

    Hotels and Motels

    Manufacturing

    Municipalities

    Professional Services

    Property Management

    Retail

    Restaurants, Cafes, Delis, Fast Food

    Skilled Trades

    Technology

    Welders

  • Services

    MyWestern

    Payment Setup

    Registry Services

    Community Emergency Resources

    Personal Insurance Claims

    Commercial Insurance Claims

    Risk Management

  • About Us

    About Western

    Who We Are

    Executive Team

    Divisions

    Partners

    Western Coast Insurance

    Wyatt Dowling Insurance

    Sustainability

    Diversity, Equity and Inclusion

    Western News

    Blogs

    Careers

    Contact

    Communities Foundation

    Our Giving Programs

    About the Foundation

    Annual Giving Reports

    Annual National Walk

    Community Infrastructure Grants

    Foundation FAQs

    Sponsorship

    Western Communities Foundation

    Your donation will help improve local communities.

    Donate

1-866-245-2779

Get a Quote

Get a Quote

Main Menu

  • Personal
    • Home Insurance

      • Home Insurance

      • Condo Insurance

        Renter's Insurance

        Seasonal Property Insurance

        Mobile Home Insurance

    • Vehicle Insurance

       
      • Car Insurance

      • Motorcycle Insurance

        RV Insurance

        Boat Insurance

        ATV Insurance

        Snowmobile Insurance

        Vehicle Replacement Insurance

    • Health & Life Insurance

      • Life Insurance

        Disability Insurance

        Critical Illness Insurance

        Mortgage Life Insurance

    • Financial Insurance

       
      • TFSA

        GICs

        RESPs

        RRSPs

    • Travel Insurance

       
  • Business
    • Commercial Insurance

       
      • Business Insurance

      • Business Life Insurance

        General Liability Insurance

        Commercial Property Insurance

        D&O Liability Insurance

        Rental Property Insurance

        Legal Protection Insurance

        Errors & Omissions Insurance

        Cyber Liability Insurance

        TotalProtect Insurance

        Fleet Insurance

        Farm Insurance

        Product Liability Insurance

    • Employee Benefits

      • Employee Benefits

        TotalGuard Insurance

    • Group Insurance 

       
      • All Insurance Programs

        ABLE Cannabis Insurance Program

        AMM Municipal Insurance Program

        CRA Insurance Program

        CVMA Insurance Program

        Crop Inputs Insurance Program

        Haven Municipal Insurance Program

        Hospitality Insurance Program

        Juno Restaurant Insurance

        BCRFA Restaurant Insurance

        Groupex Insurance Partnership

        CAM Movers Insurance

        Musical Instrument Insurance

        Independent Retail Insurance

        CAMA Insurance Program

        Biz Benefits Partnership

         
    • Event Liability Insurance

       
      • Charity Events or Fundraising Insurance

        Conferences and Conventions Insurance

        Corporate Events and Seminars Insurance

        Farmers’ Market Insurance

        Festival Insurance

        Hole-in-one Contest or Golf Tournaments Insurance

        Product Launches and Promotional Events Insurance

        Sporting Event Insurance

        Wedding Insurance

    • Industries

      • Cannabis

        Construction

        Contractors

        Daycares

        Greenhouses

        Hotels and Motels

        Manufacturing

        Municipalities

        Professional Services

        Property Management

        Retail

        Restaurants, Cafes, Delis, Fast Food

        Skilled Trades

        Technology

        Welders

  • Services
    • MyWestern

      Payment Setup

      Registry Services

      Community Emergency Resources

      Personal Insurance Claims

      Commercial Insurance Claims

      Risk Management

  • About Us
    • About Western

      • Who We Are

        Executive Team

        Divisions

        Partners

        Western Coast Insurance

        Wyatt Dowling Insurance

        Sustainability

        Diversity, Equity and Inclusion

        Western News

        Blogs

        Careers

        Contact

    • Communities Foundation

      • Our Giving Programs

        About the Foundation

        Annual Giving Reports

        Annual National Walk

        Community Infrastructure Grants

        Foundation FAQs

        Sponsorship

LoginMy Account

FR

1-866-245-2779

Get a Quote

Find a Broker

Are Yachts Expensive to Insure in B.C.?

Are Yachts Expensive to Insure in B.C.?

Yes, insuring a yacht in British Columbia is usually more expensive than getting insurance for a smaller boat.

A yacht is bigger than a standard boat. A yacht usually refers to a large, often luxurious vessel designed for pleasure cruising or racing. A yacht can be powered by sails, engines, or both.

Western Financial Group, a 100% Canadian company, can help you navigate your B.C. boat, car, home, and business insurance during this period of economic uncertainty.

How big are yachts?

Yachts are typically considered to be at least 30 to 40 feet (about 10 to 12 metres) long, which is considered the minimum length.

A medium-sized yacht would range from 40 to 70 feet (12 to 21 metres). Large yachts are considered to be 70 to 100 feet (21 to about 30 metres) and superyachts are 100 to 200 feet (30 to 61 metres).

What’s a mega yacht? Mega yachts are over 200 feet (61 metres).

How much does it cost to insure a yacht in British Columbia?

The cost to insure a 10 to 12 metre yacht in B.C. can vary, but you can expect to pay at least $1,000 or more per year. Premiums may be higher for luxury yachts and for yachts with more powerful engines. So, it can be expensive to insure a yacht.

B.C. yacht insurance generally costs around 1.5% of the yacht's value per year per year. If your 10-12 metre yacht is valued at $75,000 to $150,000, you can expect annual boat insurance premiums between $1,125 and $2,250.

Your B.C. yacht premium may be influenced by your boating experience and your navigation area.

What factors also influence the cost of yacht insurance in B.C.?

  • Value of the yacht
  • Age of the yacht
  • Length
  • Location
  • Where is it stored
  • Deductibles
  • Coverage options
  • Discounts
  • Any past claims
  • Your boating experience

Consult with an insurance broker: Western Financial Group is an insurance broker that can help you find the best B.C. boat insurance coverage at the right price for your yacht.

What does B.C. yacht insurance cover?

Most boat insurance providers offer customizable yacht insurance policies, allowing B.C. yacht owners to choose the coverage that best suit their needs and boating lifestyle.

Standard policies typically include basic insurance protections such as liability, physical damage, and personal effects, but you can add coverage options like emergency towing, navigational extensions, agreed value, replacement cost, and other options.

Your B.C. yacht insurance would typically cover a range of risks and liabilities.

Liability coverage

Liability insurance coverage for your B.C. yacht protects you if you are legally responsible for bodily injury, loss of life, or property damage to third parties resulting from the operation or ownership of your yacht. This type of insurance also helps you pay for your legal defense if you are sued.

Physical damage coverage

Physical damage insurance covers accidental loss or damage to your B.C. yacht, including the hull, engine(s), sails, and essential equipment in the case of a collision, grounding, fire, theft, and certain weather events.

Comprehensive coverage

Comprehensive insurance for your British Columbia yacht includes coverage for theft, vandalism, fire, and natural disasters such as hurricanes and floods.

Collision coverage

Collision coverage is a type of insurance that helps pays for repairs after a boat accident. Some boat insurance companies treat collision coverage as a separate part of their policies, while others incorporate it within comprehensive boat insurance plans. Make sure that you have this coverage for your B.C. yacht and understand its coverage limits.

Emergency towing and assistance

Emergency towing and assistance covers the cost of on-water towing, fuel delivery, and jump starts if your B.C. yacht breaks down or is disabled.

Wreckage removal and salvage

This type of boat insurance pays for the removal of your B.C. yacht from the water if it sinks or becomes stranded, as well as salvage operations.

Here’s the most important thing you need to know about insurance for your B.C. yacht

You need to understand what your British Columbia yacht insurance covers and what it doesn’t. Understand your policy limits and deductibles. Coverage specifics and exclusions can vary. That means you need to review your options and select insurance coverage for your B.C. yacht that matches your needs. It’s a good idea to review your insurance needs when you renew your B.C. yacht insurance.

Where are you sailing with your B.C. yacht? Make sure to let your boat insurer know where you will be sailing and include it in your yacht insurance policy.

Is B.C. the yacht capital of Canada?

No, it isn’t. British Columbia is a major hub for yachting but is not considered the yacht capital of Canada. B.C. has well-known yacht clubs like the Royal Victoria Yacht Club and Capital City Yacht Club in Victoria and Sidney.

Toronto is considered to be the yacht capital of Canada. The Royal Canadian Yacht Club (RCYC) was founded in 1852 and is one of the country's oldest and largest yacht clubs. It has a strong role in promoting yachting in Canada.

5 FAQs about yachts and insurance

How does liability coverage differ between B.C. yacht and boat insurance?

Yacht insurance typically provides broader and more comprehensive liability coverage compared to a standard B.C. boat insurance policy. Yacht liability policies address the increased risks associated with larger and higher-value vessels.

Can B.C. yacht insurance be tailored for international travel?

Yes. Your insurance for your B.C. yacht insurance can be tailored for vessels that may travel in international waters and have a crew. Liability coverage would meet international maritime law requirements.

What are some specific liabilities that are covered for luxury yachts that aren’t covered on B.C. boats?

Crew and employee liability, kidnap, ransom and war risks, and high-value personal effects and art.

What are living conditions like on a yacht?

Most yachts have cabins similar to small hotel rooms with showers and a kitchen, and some even have washing machines.

Do you need a license or special training to operate a yacht in British Columbia?

In B.C., you generally need proof of competency, which is a pleasure craft operator card (PCOC), to operate any motorized yacht or pleasure craft, regardless of its size or engine power.

The PCOC is obtained by completing a Transport Canada-approved boating safety course and passing the test.

GET A QUOTE

Recent Blog Posts

Who pays for water damage in a condo?
Who Pays for Water Damage in a Condo? What You Need to Know

June 25, 2025


Sunniest Cities in Canada
Where are the Sunniest Cities in Canada?

June 24, 2025


Canada Day 2025
Will Canada Day Be More Patriotic this Year?

June 24, 2025


Western Financial Group

2025 Western Financial Group. All rights reserved.

Privacy / Legal | Accessibility Guidelines | Fair Treatment of Customers Policy | Terms of Use | Compensation Disclosure | Complaints Process | Media Relations | Mergers & Acquisition | Careers | Sitemap

 

Western Financial Group acknowledges that its Head Office is situated on the sacred gathering ground of the buffalo and the healing place of the Medicine Tree. We honor the Blackfoot Nations, including the Siksika, Piikani, and Kainai, as well as the Tsuut’ina and Stoney Nakoda First Nations, the Métis Nation (Region 3), and all who make their homes in the Treaty 7 region of Southern Alberta. As a company with team members and operations across Canada, we also recognize and honour the diverse Indigenous Peoples from coast to coast — including First Nations, Inuit, and Métis — who have stewarded these lands since time immemorial, and we reaffirm our commitment to working together as a community, laying the foundation for reconciliation through education and mutual respect.