Boat

Section A

Civil liability coverage protects you anywhere in the world from property damage or bodily injury that you may involuntary cause to a third party. This means that even if you are docked at a wharf, you are not impervious to a lawsuit as a result of your negligence. This coverage is particularly crucial when you sail to the United States as lawsuits there are a lot more frequent and costly than in Quebec. Therefore, we recommend that your liability limit be set between $2 and $5 million.

Section B

This coverage protects you against damage to your boat, as well as its equipment and accessories. It also covers the engine and its lower unit, whether the engine type is inboard, inboard/outboard, outboard or propulsion.

The agreed value allows you to receive an indemnity for your damage boat or watercraft according to an amount that was predetermined between your insurer and you. The age of the watercraft and the type under which it falls is taken into account to establish this amount.

For example
You buy a 2014 Seary Sundancer and add the “Replacement cost” endorsement to your policy. At that time, your broker and you had agreed that your boat is worth $130,000. Three years later, you hit a rock while you are sailing and your boat is declared a total loss. The insurance that you had purchased three years ago pays out an indemnity of $130,000, which allows you to buy a new boat.

By adding this coverage to your standard boat insurance, the personal belongings of all of your watercraft’s passengers are insured.

What’s covered:
– Clothing
– Sports equipment
– Other personal belongings

What’s not covered:
– Money
– Valuable papers
– Passports

If you choose this coverage, your trailer used for the ground transport of your watercraft will be insured. Don’t forget that you must already have been in possession of a coupler lock for your trailer in order to be covered for theft.

With this coverage your insurer reimburses you the costs incurred for emergency towing or fuel delivery. Emergency towing only applies if your boat becomes disabled and is brought to the nearest repair facility where the necessary repairs will be performed.

This addition to your standard insurance policy will cover the expenses incurred for the leasing of a temporary replacement boat that is of similar type and size, for a limited period, while your boat is being repaired or replaced due to a covered loss.

With this coverage your insurer reimburses you for medical costs resulting from an accident aboard the designated watercraft, regardless of the number of victims. The indemnity is paid out up to a predetermined amount established at the time of the signing of the insurance contract.

This coverage pays out an indemnity in the event that you, your spouse or your dependent children suffer an accidental death arising from the use or operation of your watercraft.