Learn More about Alberta Boat Insurance Options

Outboard Engine Powered Fishing Boat

Alberta is a land of open spaces pushed up against the Rocky Mountains. It’s also filled with many beautiful lakes – including Lake Claire, Gull Lake, Buffalo Lake, Pigeon Lake, and Keho Lake, as well as great rivers and fishing lodges. With summer just around the corner, it’s time to take advantage of Alberta’s beautiful waterways! But before you go out motor boating, paddling, sailing or angling, take more than a life vest – be sure to have the peace of mind that comes from boat insurance.

What Documentation Do I Need?

In Alberta, you need a Pleasure Craft Operator Card, a boating license that certifies you as a qualified boat operator. It’s required regardless of age, size of boat or engine horsepower, and is mandated by law in Canada. If you’re operating a watercraft without one you could face a $250 fine.

There is different insurance for different sized watercraft. Boats are considered to be 26 feet and smaller, and yachts are 27 feet and larger. Generally speaking yacht coverage is broader and more specialized because larger boats travel further and have more unique exposures.

Capital Insurance Brokers offers boat insurance for boating enthusiasts with personalized coverage for: Personal Watercraft (Less than 16 feet long); Boats (16 to 25 feet); and, Yachts (26 feet or more in length). As your neighbours, we want you to stay safe while enjoying the peace of mind that effective insurance brings.

The best coverage for your boat is known as an All Risk policy, providing coverage for all types of losses except those specifically excluded in the policy such as gradual deterioration, marring, denting, scratching, animal damage, manufacturer’s defects, defects in design, and ice/freezing. Ask other boat owners who have had a claim in the past about the right coverage for your situation.

Do I NEED Boat Insurance?

Transport Canada’s Boating Laws & Regulations BOATsmart! website notes that “you are not legally required to insure your boat, however it is highly encouraged,” adding that “your homeowner’s insurance will not sufficiently protect your investment. Good recreational boat insurance will cover damage to your boat as well as the liability of others (should you happen to be involved in a collision).”

There are a number of reasons why you need separate boat insurance:

  • Marinas and inland waterways require insurance before you can launch or moor;
  • Damage to other boats or property, injury, and legal fees if in an accident; and,
  • Loss or theft of personal possessions on board; unexpected damages like striking a submerged rock or recovery costs such as sinking.

Your boat is a significant financial and emotional investment, protect both with boat insurance from Capital Insurance Brokers.

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