Marine Insurance

What do I need to know about marine insurance?

Marine Insurance covers physical damage to your boat such as fire, theft, vandalism and third-party liability.

  • Your insurance coverage depends on vessel type, watercraft length, size and type of motor, usage and boat storage.
  • Marine insurance works on an application basis — it’s not automatic. We’ll consider your boating experience and watercraft of choice, claims history and whether you’ve taken courses among other important aspects.
  • Boats are typically insured to the price you paid. If you know your watercraft is worth more than what you paid, a third-party will provide that value to our Western team by way of a valuation report, appraisal or professional marine survey.
  • For your insurance, it’s vital that, as an owner, you continue boat maintenance and upkeep.
  • If you’re wishing to operate a pleasure craft with an engine of 9.9 horsepower or more, then you must carry a Pleasure Craft Operators Card (PCOC). The test can be completed online.
  • Customers are advised to attach boat photographs, no matter the watercraft, to their file.
Are there any discounts with the Western marine insurance product?
  • If you haven’t had a claim in the last 5 years, call about a possible claims free discount.
  • Speak to your insurance broker whether you can save through your boating education. Are you a pilot by trade and have navigational skills? Savings may be available.
  • Do you belong to a yacht club? — you might be discounted on your premium.