Should I Buy an Electric Boat?
It’s not a yes or no answer. It depends on your boating activities and whether an eco-friendly boat would suit your boating needs. Next question? Can I get boat insurance for an electric boat? Yes, you can.
Electric boating is gaining popularity in Canada among pleasure boaters and passenger ferry services wanting zero-emission watercraft.
Western Financial Group, a 100% Canadian company, can help you navigate your boat, car, home, and business insurance during this period of economic uncertainty.
Here’s your guide to understanding electric boats:
What is an electric boat?
An electric boat is powered by batteries (or battery) that store electrical energy, which is used to power the boat’s electric motor and propeller. They do not use gasoline or diesel fuel.
How many batteries does an electric boat need?
The number of batteries depends on the type of boat, size, and power needs. Smaller electric boats might only need one battery, while larger electric boats may need multiple battery packs and energy storage capacity.
Are there different types of electric boats? Yes.
- Tender boats (dinghies)
- Pontoon boats
- Rigid inflatable boats (RIBs)
- Electric outboards
- Electric fishing boats
- Electric passenger ferries
- Electric sailboats
- Electric canal boats
Do electric batteries add to the weight of my boat?
Yes, electric batteries can add to the weight of your boat. The weight of marine batteries varies, from under 20 pounds (9 kilograms) for lithium to over 100 pounds (45 kilograms) for large lead acid batteries.
Traditional lead-acid batteries add significant weight to your boat, which can impact on your boat’s overall performance and handling. An AGM (Absorbed Glass Mat) battery is a type of lead-acid battery designed for boats that’s spill-proof, vibration-resistant, and high performing.
Lightweight lithium-ion batteries add less weight to your boat. They’re used in smaller fishing boats, yachts, and electric outboards.
When you’re buying an electric boat, educate yourself about the type of battery (ies) your zero-emission boat will use.
Where do I charge my electric boat?
You can charge an electric boat using standard household outlets, Level 2 EV chargers, and three-phase outlets at marinas. Marinas often have shore power installations that provide charging access. You can also find DC fast charging stations at marinas and harbours.
How often do I need to change my boat’s battery?
You’ll need to have your electric boat’s battery changed every three to five years, but this can vary depending on the type of battery your boat uses, your boat maintenance, and your boat’s usage.
If your electric’s boat battery is older than five years, it’s likely time to replace it.
Will my electric boat blow up?
The risk of your electric boat blowing up is a lot lower than a gasoline-driven boat because it doesn’t have a flammable fuel system. Electric boats are powered by batteries and electric motors, which don’t have the same explosion risk as gasoline engines.
What happens if my electric boat sinks?
An electric boat can sink just like any other boat. The risk of electrocution is considered low if your electric boat is built to safety standards. Experts say the electric battery's design, along with safety features, make it unlikely that you would be exposed to electrocution if your electric boat sinks.
Shark or electrocution?
Your electric boat has sunk. Batteries that are submerged in sea water pose little danger of electrocution. What if a shark is near your submerged electric boat? It’s said that more people die from taking selfies than are killed by sharks, but you never know.
Can I get electrocuted on my electric boat?
Electrocution is a risk on any boat, including electric boats. Electric boats have built-in safety features and are designed to minimize the risk of electrocution, but it’s important to make sure they are properly maintained and to be aware of potential hazards.
Pros and cons of electric boating
Pros
- Zero emissions, no gasoline residue in the water
- No fuel spills
- Reduced noise
- Eco-friendly, reducing environmental impact on the water and shoreline
- Lower long-term operating costs
- Smooth acceleration, instant torque
Cons
- Still generally less powerful than gasoline boats
- Electric charging infrastructure may not be as widespread as refueling stations for gasoline-powered watercraft
- High initial cost
- Long charging time
- Limited range
- Battery problems/electrical failures
Boat insurance for electric boats
The value of your electric boat can affect your boat insurance premium. Insurance policies for e-boats may differ from those for traditional boats. Electric boats may require specialized coverage options. Ask your Western Financial Group boat insurance expert.
Boat insurance is not mandatory in Canada, but your financial lender may ask that your boat be insured as a condition of financing. If you are docking at a marina or use a private boathouse, you may be required to carry a specific amount of liability insurance and show proof of boat insurance. Many marinas require $3 million in liability insurance.
Boat insurance protects you, your loved ones, and your investment in your electric boat.
Electric boat FAQs
How far can an electric boat go?
The range of an electric boat depends on the model and battery and it’s improving with better technology. You can generally expect three to four hours of cruising at a moderate speed of 5-7 knots. Factors such as battery capacity, efficiency, and speed impact how long you can go on a single charge.
Are electric boats suitable for long-distance travel?
You will need to carefully plan a long-distance trip with an electric boat to make sure there are charging stations along your route.
Do I need a generator for my electric boat?
If you plan to use your boat for extended periods away from shore power, a generator can be beneficial.
What’s the price of an electric boat?
That depends. The base price of an electric boat can range from under $1,000 for a small, basic model to over $1 million for luxury yachts. There are some low-cost models, but many luxury and performance electric boats cost more than $300,000.
Does an electric boat go faster than a gas-powered boat?
An electric boat is generally not as fast as a gas-powered boat due to limitations in battery technology and power output. Gas engines typically offer more power and higher speeds, but electric boats have instant torque and smooth acceleration.
Why Western?
We’re 100% Canadian!
Get the best boat insurance
Get a boat insurance quote in minutes.
Save money on your boat insurance
Covering all your water adventures.
Where care and convenience come first.
