Although boat insurance is not mandatory, it can cover damage, liability, and other unforeseen events. With PAIB Insurance Inc. being from Northern Ontario, we know a thing or twelve about smooth sailing on the open waters and we’ll be sure to find the insurance that has you seeing red skies at night, every night.
While boat insurance is not mandatory, it can cover damage, liability, and other unforeseen events.
Types of Insurance
For a privately owned recreational boat, your insurance options include:
- Hull and Machinery – provides damage coverage up to the total loss of your boat and attached equipment.
- Protection and Indemnity – provides liability coverage that protects you against property damage and bodily injury. It also provides help with investigating a loss and preparing your defence. If you are found to be at fault, it provides payment up to the limit listed in your policy.
- Medical Payments – provides coverage for incidental medical expenses due to an incident on your boat.