Frequently Asked Questions

Our Customers Commonly Ask Us:


Policy Coverage:


Do I have to insure my boat?

Most marinas will require boaters to keep marine insurance on their boats when mooring them. Also, if you finance your boat purchase, it’s likely that your lender will require insurance coverage which lists them as a loss payee to cover their interest in your boat. It is legal to register and operate a boat without insurance, but insurance is recommended to cover accident liability costs, damage and more.

What amount of insurance should I buy?

There are two coverage’s important to insuring your boat, Hull & Machinery (your boat and attached equipment) and Protection & Indemnity (Liability).

Insure your boat (hull & machinery) to the current market value. This will ensure that in the event of a total loss to your boat, you will recover what the boat is worth.

Liability coverage protects you for at fault property damage and bodily injury claims. The coverage has three key components. It will investigate your loss, defend you if you are not at fault and pay up to the policy limit if you are at fault. The recommended limit is $2 million.

How much will my boat insurance premium be?

Many factors influence how much you will pay for marine boat insurance. Some include:

  • The boat’s determined value
  • Boat length and type Intended use of the boat, and the area it will be used in
  • Loss and claims history of the owner/operator
  • Experience of the boat owner/operator

How can I save money on my boat insurance premium?

Your marine insurance agency can offer discounts if you:

  • The boat’s determined value
  • Insure your boat at market value
  • Have completed approved boating courses
  • Are a member of the Canadian Yachting Association or the Canadian Power & Sail Squadron
  • Consider higher hull and machinery deductibles.

Request a boat insurance quote today!

What is the difference between Actual Cash Value and Agreed Value?

The amount paid following a total loss is the amount shown on your policy - without depreciation. Partial loss claims are settled new-for-old without depreciation. Actual Cash Value - Depreciation is applied on all claims. The amount you receive is the current market value of the boat or damaged equipment at the time of the loss. The Actual Cash Value policy permits your boat insurance agency to apply full deduction for depreciation of your boat’s value. An Agreed Value policy will provide you with the agreed-upon boat value stated originally on your policy (no depreciation) if your boat is a total loss.   

Can I insure my boat for travel to Florida or the Bahamas?

Yes. Our marine insurance policies can provide extensions of coverage for southern navigation, and inter coastal waterway cruising for pleasure craft. An insurance premium surcharge and certain coverage conditions apply. Approved hurricane plans are required if you are travelling between June 1st and November 15th. Contact your Harbour Marine Specialist to discuss such planned travel.

Can I charter my boat?

Yes, usually for an additional premium and under certain conditions. You can charter your vessel for activities such as fishing and sightseeing provided you are always the skipper, on board and in command of the boat.

What is a survey and do I need one?

A boat survey helps determine the condition and overall value of your boat – it can bring hidden mechanical or structural issues to light. For insurance purposes, boat insurance companies typically require surveys to be completed on the 15th year of a boat’s life and every 5 years thereafter. 

Harbour Insurance recommends always initiating a boat survey before purchasing an older boat. We can provide a list of approved surveyors if you require a survey.

What does Medical Payment coverage include?

The Medical Payments coverage is intended to protect your passengers from incidental medical expenses for accidents that occur while on your boat. If the medical expenses exceed the limit of $5000 then your passenger would look to your liability or Protection & Indemnity (Liability) coverage for further payments.

What should I look out for when shopping for marine insurance?

Insist upon an “agreed value” policy and an “all risk” policy.

Can I buy just liability insurance coverage?

We cannot insure your vessel for liability only, it can only be offered provided the vessel is covered first for physical damage.

What is Reimbursement of Emergency Expenses?

Also known as emergency towing; if the boater runs out of fuel or has a mechanical breakdown that is unrelated to a covered loss, the boater will be reimbursed for the reasonable costs associated with towing the vessel to safe harbour.



Harbour is changing traditional marine insurance with Ready-to-Go™ policies. It's easy to get quality boat insurance coverage with affordable rates and trusted 24 x 7 claims service. We know marine insurance. It's what we've done for over 50 years.


Affordable Simple Trusted


Have questions? Contact Us.

Harbour Insurance specializes in boat insurance Ready-to-Go™.  We insure sailboats, large yachts, family runabouts, pontoon boats, personal watercraft, classic and antique boats, to cruising and southern navigation routes. Get the best insurance coverage for your boat and lifestyle with Harbour.

Get in touch

  • Harbour Insurance Services
    1255 Commissioners Rd #240,
    West London,
    ON, N6K 3N5

    Business hours:
    Mon - Fri: 9:00am - 5:00pm EST

  • 1 (877) 731-1224 or 1-705-528-1276