Think ahead to warmer weather on the lake

As the calendar turns to March we start thinking about spring and warm weather plans. Cottage weekends, campfires and cruising the lake on a boat are something many of us look forward to in Ontario. Get ahead of summer plans with these watercraft insurance and operation advice tips.

What do I need to operate a watercraft?

A Pleasure Craft License is required to operate any watercraft – any motorized boat. This document, containing a unique identification number must be displayed and visible on the boat. This license is required for pleasure crafts powered by an engine of 10 horsepower or more.

What type of insurance coverage do I need?

Some insurance policies automatically cover watercrafts under farm and residential policies. Usborne & Hibbert Mutual offers policies between $1,000 and $3,000 for damage to watercrafts that include furnishing, equipment, accessories and motors. However, this may not be enough coverage when you consider the boat, trailer, motors and equipment. We recommend additional coverage as an add-on to any farm or residential policy. The add-on can cover all items specific to the watercraft that fall within the limit stated on the policy. Talk to your insurance broker or agent for additional information to make sure your boat and equipment are properly covered.

What do should I do if I have an accident or damage my boat?

In the event of a total loss claim, the value received will total the amount that the watercraft has been insured for. It’s important to talk to your broker or agent to ensure the proper value of your boat is included in your policy to avoid any disappointment if you must replace it. Hail and wind damage are only covered if the watercraft is stored inside a full enclosed building.

Want to learn more about watercraft  insurance coverage? Contact one of agents today.