To discuss your Commercial Hull Insurance with one of our professional commercial lines representatives today, call 905-886-5630 or toll free at 1-800-567-1279, or fill out the online quote form.



Boat & Yacht insurance is composed of various coverages similar to auto insurance (i.e. comprehensive & collision). Of the basic coverages are Hull and Protection & Indemnity (P&I) .

Hull insurance protects a vessel against loss or physical damage. Coverage extends to all equipment that is mounted on the boat or used to operate it safely. Such equipment includes horns, lights, dinghies, boat & motor covers, signaling devices, depth finders, ship to shore radios, and boat furniture. Most policies also extend coverage to trailers that are designed for and used to transport the boat.

Protection & Indemnity (P&I) covers damage that an insured is legally obligated to pay arising out of the ownership or use of a covered vessel. This usually includes salvage coverage.

Boats can be insured for an agreed value amount or on an actual cash value (market value) basis. Engines are usually insured for replacement cost.

Boat owners that employ a captain or crew should have their policies endorsed to include Jones Act coverage.

The types of claims for boats and yachts include: hitting submerged objects, heavy weather, lightning, theft, vandalism, collision, fire, wreck removal, clean-up, vermin, etc. Be prepared for the unexpected!

As waterways increasingly become congested, most marinas mandate that boats using their facilities carry their own insurance.

Though legislation does not currently require having insurance on your vessel, laws have recently changed with respect to boater liability:

Under the current Canada Shipping Act a pleasure craft owner (pleasure craft are treated as being a minimum of 300 GRT) is faced with exposures of up to $1,000,000 for personal injury and loss of life as well as an additional $500,000 for property claims.

Note: An individual can lose the right to limit their liability if the claimant can establish that the act of the person was intentional or reckless enough that it could be interpreted as being deliberate. It's highly recommended that each vessel owner carry liability (P&I - Protection and Indemnity) limits of $2,000,000.