Insuring Your Watercraft

As spring approaches with the promise of open water, you’re counting down the days until you can trailer your boat and launch it for a season filled with fishing, touring, watersports, and memorable time spent with your loved ones.  Boating on Manitoba’s stunning lakes and waterways is truly one of the joys of summer in our prairie province. But before you head out, pause for a moment to ensure that your watercraft is adequately prepared.  


Of course, there are the physical preparations: Checking that all the components are working properly, that the boat is seaworthy, clean, and well-stocked.  Have you got extra paddles?  Life jackets?  Emergency gas?  A map or chart?  First aid?  A marine radio?  And are your lights functioning as you’d expect them to?  Also, do you have your boating licence handy, and have you renewed your fishing licence and brushed up on your water safety skills?  


In addition to all of the considerations above, there’s also the question of insurance.  While damage to a boat stored on your property will be at least partially covered under your home insurance policy (to what extent will depend on your specific provider and policy), your home insurance doesn’t typically extend to damages or injuries that occur when your boat is on the water—or when you’re on your way to or from the lake.  


Think of it this way: You park your car on your property, but you still purchase separate car insurance.  The same logic applies when it comes to boats and watercraft.  So, before you head for open water, protect yourself by making sure that your watercraft is properly insured.  Here’s how:


What Types of Watercraft Need To Be Insured?

With the exception of small, non-motorized watercraft such as kayaks and canoes (which you may still wish to insure separately depending on their value), the team at Nation West recommends insuring any and all watercraft.  We offer comprehensive coverage options for sport boats, utility and hunting vessels, fishing boats, deck boats, cabin cruisers, houseboats, sailboats and catamarans, jet skis, and more.  If you’re unsure whether your watercraft is covered under your home insurance policy, reach out to us at Nation West, and we can help you clarify.  


What Is Covered by Watercraft Insurance?

As with any type of insurance, the specifics of what’s covered will depend on your particular watercraft insurance provider and policy.  In general, watercraft insurance will cover your boat’s physical structure, uninsured or underinsured boater’s liability, third-party liability, and coverage for specific boat equipment or other items on your watercraft.  


How Will I Find the Best Watercraft Insurance for Me?

At Nation West Insurance, we understand that every individual and each situation is different.  That’s why we do the heavy lifting for you and your family.  When you work with the Nation West team, we’ll provide you with fully customizable boat insurance options that will meet your needs and exceed your expectations.  


For a free quote on watercraft insurance, call us, visit our website, or come see us in person today!  

Ken Coughlin

About the Author

Ken Coughlin


Experienced Chief Executive Officer with a demonstrated history of working in the insurance industry. Strong business development professional skilled in Negotiation, Budgeting, Business Planning, Operations Management, and Property & Casualty Insurance.

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