What You Don't Know about B.C. Boat Insurance
Boat insurance covers pretty much everything, right? No, boat insurance in B.C. covers the unexpected, such as an accident or wreck removal.
When you take the time to read the details of your boat insurance policy, you will better understand what is covered and what is not covered when you’re boating on British Columbia’s beautiful waters.
Here’s what you don’t know about B.C. boat insurance:
No boat license and no insurance are needed in British Columbia
It’s true that no insurance is needed to operate a boat in B.C., but most marinas and lending institutions require it if you are financing your boat.
In British Columbia, boaters who operate motorized boats are legally required to have a Pleasure Craft Operator Card. It’s commonly known as a B.C. boat license.
The Pleasure Craft Operator Card shows proof of competency. This card shows that you have a basic understanding of how to safely operate a boat and what to do in an emergency.
If you've taken a boating safety course, you may be able to get a discount on your boat insurance.
How is my boat covered when it’s out of the water
Your B.C. homeowners’ insurance may offer coverage if your boat is vandalized or stolen while it’s in your driveway.
Typically, a boat insurance policy will cover physical damage to your boat while it’s being trailered and your car insurance policy will cover liability losses.
If your boat is being pulled by a trailer and a vehicle rear-ends it and damages it, the boat policy will respond. If your trailer side swipes a motorist, causing damage to their vehicle, your car policy would typically cover it.
Home insurance covers my boat
Your B.C. home insurance policy usually doesn’t have enough coverage to protect your boat.
The cost to replace or repair your boat likely will be greater than the amount covered by your homeowner’s policy. If your boat is worth less than $3,000, is less than 26 feet (eight metres), and its horsepower is less than 50 HP., it’s likely to be covered under your home insurance. Boats likely to be covered by your home insurance are a rowboat or some type of canoe.
Your personal liability coverage on your home insurance covers you if people are injured or their property is damaged at your house or on your property.
In British Columbia, it’s recommended that your boat insurance has $3 million in liability coverage. It helps cover such things as legal fees and medical bills, which can quickly add up.
You would need to check with your B.C. insurance provider to find out whether your personal liability coverage on your home insurance would cover a boating accident. It may depend on the size of your boat.
An older boat costs more to insure
How old is your boat? The age of your boat can play a role in your insurance rate. Older boats may be considered riskier and cost more to insure.
Your driving record can affect your boat insurance
You can expect that your insurance provider is going to take a look at your driving record. Do you have any accident claims or an impaired driving charge?
If you have a clean driving record, you are likely to pay less for boat insurance client.
Consider comprehensive boat coverage
A B.C. marina is likely to ask you if you have boat insurance policy, usually with comprehensive coverage, if you plan to dock your boat there. Comprehensive coverage is a preventative measure against vandalism, for example.
Boat insurance is expensive
You’ll need to understand the costs that come with boating, just like with any hobby or pastime. You can help reduce your premiums for B.C. boat insurance with a good credit score, a clean driving record, and boating safety courses.
If you’re a B.C. boater, you don’t want a mishap or an accident to be part of your boating trip. Even though boat insurance isn’t legally required, make sure you’re protected on the water. Speak to a Western Financial boat insurance expert about your B.C. boating needs.
