Lifestyle planning.
Why pay more for comprehensive boat insurance?
Yachting is a lifestyle unto its own and with the freedom of owning a larger sail or motor yacht comes the responsibility to insure it fully, for your lifestyle.
Yachts have a different set of exposures and risks. The brokers at Harbour Insurance will assist to evaluate your risk, to make an informed decision on how to insure your vessel. The most important aspect of insurance is at the time of a loss; and Harbour is here to assist. We are constantly in touch with surveyors and claims adjusters, and are fully committed to fair and prompt claims settlements for our clients.
Benefits of Harbour Yacht Insurance
- Your all risks Harbour Insurance policy will cover your hull & machinery against various perils including underwater damage should you strike a submerged object.
- Annual policy with no lay up warranty – Why should someone dictate to you when you can use your boat?
- Experienced boater discounts available
- Agreed value coverage – We pay the limit of coverage shown on the Declaration Page of the policy. If the vessel is a total loss, no deductible is applied.
- Coverage for partial losses – We pay the cost to repair or replace with materials of like kind and quality, with no depreciation.
- Personal effects coverage ($2,000*) – Protect your personal contents on board. As our policy is ‘First Payer’, you can avoid making a claim through your home insurance.
- Emergency expense ($1,000*) – We offer to reimburse you for towing and emergency assistance in the event of a mechanical failure or if you run out of fuel. Using this will not affect your claims free status.
- Southern navigation option– With our Extended Southern Navigation Coverage, Canadians are free to set sail and head south!
* Increased limits of coverage are available – ask about our Pleasurecraft Enhancement coverage.
- Personal effects ($10,000) – The amount of insurance is increased to $10,000
- Reimbursement of emergency expenses ($5,000) – The amount of insurance is increased to $5,000.
- Search and rescue ($5,000) – We will pay up to $5,000 for the reasonable expenses incurred for search-and-rescue operations in the event any person is lost at sea from the Insured Vessel.
- Loss of use – If the Insured Vessel is damaged by an insured peril while you are on holiday, we will pay for a temporary substitute vessel or temporary accommodation, up to a maximum limit of $2,500 per occurrence.
Yacht coverage
- $1 Million Personal Protection & Indemnity Liability – option to increase up to $5MM
- $1 Million Uninsured/Underinsured Boater Protection – up to $2MM available
- $1 Million Waterskiing Liability – up to $2MM available
- $2000 Personal Effects Coverage
- $1000 Reimbursement of Emergency Expenses
Sailboat coverage
- $1 Million Personal Protection & Indemnity Liability – option to increase up to $5MM
- $1 Million Uninsured/Underinsured Boater Protection – up to $2MM available
- $2000 Personal Effects Coverage
- $1000 Reimbursement of Emergency Expense
Applicant must be claims-free for over 5 years, and an experienced owner and operator, or have boating education such as Canadian Yacht Association (CYA) or Canadian Power and Sail Squadron (CPS).
To insure your boat, you may need a survey to determine its condition and current value. An out of water survey is required for boats 15 years of age or more, and a new survey every 5 years thereafter*. Find an Underwriter approved list of surveyors.
* Increased limits of coverage are available – ask about our Pleasurecraft Enhancement coverage.
- Learn about Extended Southern Navigation Coverage
- Get our approved surveyors list
- Download our application and apply for a payment plan
Request a yacht or sailboat insurance quote online below and a Harbour Insurance Broker will contact you within one business day to finalize your policy and premium. Or call us direct at 1.877.731.1224 or 1.705.528.1276.