Insuring older boat - Just boat basic liability?

jaymoussy

Seaman Apprentice
Joined
Jul 12, 2014
Messages
42
Started shopping for my first, modest, used boat, I have two questions about insurance:

- I would need only liability coverage as my likely equipment will be pretty tired stuff anyway?

- tie the boat (heh) to my homeonwers' policy, or get separate one?
 
Last edited:

Bifflefan

Commander
Joined
May 27, 2009
Messages
2,933
Separate policy.
Most likely your regular insurance agent can get you fixed up for less than $150 a year.
 

jc55

Senior Chief Petty Officer
Joined
Nov 3, 2006
Messages
665
In my case, home owner liability policies are horsepower dependent. My Sportcraft(25hp) is covered automatically, but over 150hp and it gets written in at an additional cost.
 

NYBo

Admiral
Joined
Oct 23, 2008
Messages
7,107
Welcome to iboats!:welcome:

Make sure the liability policy covers the costs related to fuel spills. The fines are rather astronomical.
 

Brian 26

Chief Petty Officer
Joined
Aug 14, 2013
Messages
574
In my experience full coverage is only a couple bucks more than liability. On my jet skis it was $99 vs $100.
 

oldjeep

Admiral
Joined
May 17, 2010
Messages
6,455
In my experience full coverage is only a couple bucks more than liability. On my jet skis it was $99 vs $100.

Yup, on an older boat the cost is pretty low no reason not to get it. Especially since a lot of those policies will cover things like trashing your lower unit hitting a deadhead.
 

WIMUSKY

Moderator
Staff member
Joined
Sep 26, 2009
Messages
19,789
It all depends on the boat, but I too pay $100 for full coverage , separate policy. I mainly have it in case I tear off the lower unit.......
 

Don Hansen

Petty Officer 1st Class
Joined
Sep 17, 2007
Messages
230
Just for general information. Always needed it for the car but my insurance agent says that you now need proof of insurance for your boat in Canada if you have an accident with it or they won't let you go home until you do provide it.
 

thumpar

Admiral
Joined
Jun 21, 2007
Messages
6,138
Check the pricing. We only pay $20 a month for a very good full coverage policy. On our old boat we paid $12 a month for just liability. I would pay the extra to cover the outdrive like WIMUSKY stated especially since I have the spendy Bravo.
 

DougGreer

Cadet
Joined
Sep 13, 2012
Messages
16
I don't think there is a law you need boat insurance in Ontario Canada. But I sure would not like to hit some one and not have any, You would be paying for the rest of your life.
 
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