Canada boat insurance

[AiniA]

While we cruised we had insurance from IMIS but now we are going to be sailing a smaller boat on the Great Lakes. Years ago we had coverage with Skipper's Plan and will check with them again. What other companies should I consider? Any that I should avoid? Thanks.

[boatpoker]

The insurance world has changed dramatically over the last 10yrs. Policies between underwriters can be wildly different with surprising differences in premiums. Read all the small print.

The folks at Skippers Plan is a good place to start

[pcmm]

Originally Posted by AiniA

While we cruised we had insurance from IMIS but now we are going to be sailing a smaller boat on the Great Lakes. Years ago we had coverage with Skipper's Plan and will check with them again. What other companies should I consider? Any that I should avoid? Thanks.

I used to have Skippers plan but don't like their polices. 2 years ago they called me in August (when my policy renews) and told me I needed to haul the boat for a survey for liability only insurance.. It was going to be a $1500-2000 bill just to get $400 of insurance! then they siggested that I could get an in-water survey for now and get a full survey later. Even more expense!

I switched to April insurance, cost less for more coverage with no need for a survey (which is normal )

[Lake-Effect]

Originally Posted by AiniA

While we cruised we had insurance from IMIS but now we are going to be sailing a smaller boat on the Great Lakes. Years ago we had coverage with Skipper's Plan and will check with them again. What other companies should I consider? Any that I should avoid? Thanks.

If you have other insurance (house, car) through a broker, you could ask that broker for a quote. There are a number of companies that will underwrite boat insurance, and your broker might discount for giving them more business.

I went to the Canadian Yachting website and typed "insurance" in their search bar, and that brought up some press releases about discounts for members of the Canadian Power Squadron.

We're with Aviva Elite, but have no experience with making a claim (nor will we ever, I expect, touch teak...). They seem efficient at sending renewals and accepting our payments every year. They made us get a survey 4 or 5 years ago.

[boatpoker]

Originally Posted by pcmm

I used to have Skippers plan but don't like their polices. 2 years ago they called me in August (when my policy renews) and told me I needed to haul the boat for a survey for liability only insurance.. It was going to be a $1500-2000 bill just to get $400 of insurance! then they siggested that I could get an in-water survey for now and get a full survey later. Even more expense!

I switched to April insurance, cost less for more coverage with no need for a survey (which is normal )

No, this is not normal for a Marine Underwriter. What responsible underwriter would insure a 30yr. old, 41' boat without an understanding of the risk. Good luck collecting on a claim from a company like that.

Stick with a marine underwriter. it is a very different world than your home insurance.

[pcmm]

Originally Posted by boatpoker

No, this is not normal for a Marine Underwriter. What responsible underwriter would insure a 30yr. old, 41' boat without an understanding of the risk. Good luck collecting on a claim from a company like that.

Stick with a marine underwriter. it is a very different world than your home insurance.

Again I have liability only. It insures the operator not the boat. Why would you need a boat survey to liability insurance. I've never needed one before and don't see the reason to need one now. Even Skippers plan (at the time) couldn't explain why the boat needed a survey for liability only plans!!

[boatpoker]

Originally Posted by pcmm

Again I have liability only. It insures the operator not the boat. Why would you need a boat survey to liability insurance. I've never needed one before and don't see the reason to need one now. Even Skippers plan (at the time) couldn't explain why the boat needed a survey for liability only plans!!

mmmh .... liability ...... maybe because they'd be liable ?

eg. a couple of hundred thousand dollars for environmental cleanup and fines when some POS boat sinks.

or if someones decrepit steering system fails and they plough into a million dollar custom yacht.

or if a typical Taiwan propane system blows and takes out all it's dock neighbours. They won't have to pay a nickle for your boat but they would have to pay for all the others.

[pcmm]

Originally Posted by boatpoker

mmmh .... liability ...... maybe because they'd be liable ?

eg. a couple of hundred thousand dollars for environmental cleanup and fines when some POS boat sinks.

or if someones decrepit steering system fails and they plough into a million dollar custom yacht.

or if a typical Taiwan propane system blows and takes out all it's dock neighbours. They won't have to pay a nickle for your boat but they would have to pay for all the others.

How does surveying my boat help them in that situation? Again I've had insurance (liability only) for a very long time through many including in the US only skippers ever wanted a survey. Its just weird!

[boatpoker]

Originally Posted by pcmm

How does surveying my boat help them in that situation?

Well .... it tells them that your lousy propane system, wonky steering gear, corroded chainplates, leaking electrical system etc. are not a good risk because they'll have to pay for all the other boats you damage.

[Al Golden]

And, one more thing: The marina cares a lot whether the wreck removal coverage in your liability policy (it is there isn't it) will pay to remove your boat that sinks in their slip...