Cheapest insurance in Canada
- Thread starter savy
- Start date
Cheapest I could find for my '09 GTX 155 was MD Marine Insurance. Dealer even suggested it, I phoned around and could not find any place that was cheaper.
Engine and Propulsion system are covered ($500 deductible) and 2 million liability. Craft is covered for $500 deductible.
MD Marine Insurance: 1-877-MARINE3
Ben
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Yeah believe it or not, you do not need insurance on ANY boat in Canada according to the law. Like you do for a sled ($5k fine if you do not have insurance on your sled unless it's on your own property).
But I decided with shoals all around me, and if the boat lost control (throttle got stuck who knows.. ) And rammed into a huge cruiser I better have insurance.
Ben
What happens if you wipe someone out with your PWC? It's the law to have liability is it not ?
Insurance Coverages
Heres what I know about Insurance about boats - I got a fast education last year.
I originally had house insurance with RBC. So when I got a boat - I figured I would just add it to the policy. Everything was going good when suddenly they asked me if the motor was inboard or out. I replied inboard. Nope they wouldnt insure it.
So i had to shop around and found Mennonite Insurnace out of Saskatchewan would insure it - so long as they could have the business on for the house insurance - AND that it wasnt rated for over 60MPH.
Im in trouble next year when me and hubby trade up for a bigger Doo! I will have to shop around again.
I have only a 50 deductable - 5 million liability - and it costs me $37 a month for the boat portion. That also includes accidents on the road - and theft for a total of $444 a year on top of my regular house insurance.
Its not the law (yet) in Canada to have insurance as it MIGHT be covered under your home insurance for an accident. But you might have to check your policy.
Also, Insurance companies are now asking for copies of your Boat Operators Card.
I think having insurance is something you should have - even if its minimal amounts. Could you honestly live with yourself if you did have an accident on the waterway?
Sara
Heres what I know about Insurance about boats - I got a fast education last year.
I originally had house insurance with RBC. So when I got a boat - I figured I would just add it to the policy. Everything was going good when suddenly they asked me if the motor was inboard or out. I replied inboard. Nope they wouldnt insure it.
So i had to shop around and found Mennonite Insurnace out of Saskatchewan would insure it - so long as they could have the business on for the house insurance - AND that it wasnt rated for over 60MPH.
Im in trouble next year when me and hubby trade up for a bigger Doo! I will have to shop around again.
I have only a 50 deductable - 5 million liability - and it costs me $37 a month for the boat portion. That also includes accidents on the road - and theft for a total of $444 a year on top of my regular house insurance.
Its not the law (yet) in Canada to have insurance as it MIGHT be covered under your home insurance for an accident. But you might have to check your policy.
Also, Insurance companies are now asking for copies of your Boat Operators Card.
I think having insurance is something you should have - even if its minimal amounts. Could you honestly live with yourself if you did have an accident on the waterway?
Sara
Very interesting, that's why I decided to go with insurance. $465 covers me if I hit someone, if it sinks etc..
I'm surprised they are asking for the pleasure craft operators card as for a PWC that's been law since 1999.
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Insurance
My husband used to have a boat down at the Scarboro Bluffs. Im sure he never had to show a card. But I guess there are going to be stricter things put into force as the insurance companies wanna ensure boaters have at least a minimal amount of boater "education" behind them to cover their risks on paper.
To sum it up - it will be a lot more care-free, fun summer knowing that youre totally legal on the water, and you are being responsible.
Nobody needs to be harrassed by water cops.
My husband used to have a boat down at the Scarboro Bluffs. Im sure he never had to show a card. But I guess there are going to be stricter things put into force as the insurance companies wanna ensure boaters have at least a minimal amount of boater "education" behind them to cover their risks on paper.
To sum it up - it will be a lot more care-free, fun summer knowing that youre totally legal on the water, and you are being responsible.
Nobody needs to be harrassed by water cops.
That seems quite ridiculous you wouldn't be covered because of 'Inboard'. And I'm not sure they have their facts straight about Inboard. inboard is really 'i/o stern-drive' vs. an outboard motor. And Sea-Doos are Jet-propulsion motors, there is no stern or propeller so I'm not sure if it should be classified as inboard. Sitting on top of the motor is no different than having it hanging off the back. Motors don't blow up like they do in the movies. In fact, inboard is much less likely to get stolen because you'd have to steal the whole craft. Outboard motors are theft prone.
I would challenge RBC. Bank insurance divisions really have no clue about boat insurance. Banks like to have their fingers in everything and thats why it's always a better idea to get your insurance from an insurance company. And your mortgage from a Mortgage company and do your banking at a bank. You'll receive better rates and customer service from the specialists.
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