Why You Should Consider Boat Insurance
With summer in full swing, take advantage of the beautiful weather and get your boat out on the water. Before you do, however, there is an important matter to consider: boat insurance.
Main Benefits of Getting Boat Insurance in Ontario
If you are a boat owner in Ontario, you are technically not legally required to get boat insurance. However, there are a number of reasons why it is a good idea to consider getting insurance for your boat regardless.
The following are some of the most significant advantages of having boat insurance in Ontario:
1. Boat insurance can be tailored to your needs
When it comes to insuring your boat, there are different coverages that you could set up to ensure you are covered sufficiently.
For instance, collision coverage will ensure that your boat is repaired or replaced if it is involved in a collision on the water or during transport. Bodily injury liability insurance will cover legal and medical expenses if someone is injured by or on your boat, and comprehensive coverage will cover damages to your boat caused by events other than a collision that is laid out in your policy.
There are also various add-ons that you can pick and choose from to improve your protection. For example, you may be able to include coverage of the security, navigation, and communication equipment on your boat or expand the area your boat is insured to travel in.
You can even modify your policy to ensure your living expenses are covered while your boat is being repaired or that your emergency towing expenses are covered if your boat gets stranded.
2. Protect yourself from the inherent risks of boating
Although boating is a fun and leisurely activity for the most part, it still comes with several inherent risks. Some of these risks, such as boat collisions, can come as a result of your negligence or that of another boater. Sometimes, however, there are completely unexpected situations that can result in damage to your boat, which are impossible to predict or avoid.
For instance, you could run into a submerged object while you are out on your boat, consequently causing extensive damage to the body of your boat or its motor. If you do not have proper coverage for such circumstances, the repair costs will be all on you to cover.
While many of the unavoidable risks of boating exist on the water, it is also possible to run into issues while your boat is being transported or in storage. If you get into a car accident while towing your boat, and it is damaged, or if your boat is stolen or vandalized while in storage, these are also scenarios that you want to ensure you are covered against.
3. Protect your investment
No matter how big or small your boat may be, it was likely a huge investment. Just as you would do anything necessary to protect your other major investments, like your car or home, your boat deserves the same treatment.
After spending all of that money on your boat, the last thing you want is to leave it unprotected, but transporting it or taking it out on the water without sufficient insurance is doing just that.
While you can hope that your boat does not run into any costly issues and you will never have to use your boat insurance, you will certainly be glad to have it in place in case you do need it.
4. Peace of mind
Having a boat insurance policy with the right amount of coverage will provide you with a level of relief and peace of mind that you simply would not be able to attain otherwise.
If you take the risk of using your boat while it is uninsured, you will likely always be worrying about the possibility of landing yourself in a very expensive mess if something happens to your boat.
When you know you are putting yourself in a high-stakes situation whenever you take your boat out, how can you enjoy those experiences that are meant to be fun and relaxing? Thus, getting sufficient insurance coverage is a must to enjoy stress-free boat rides.
How James Campbell Insurance Can Provide the Coverage You Need
If you have a boat that is currently uninsured and you would like to benefit from boat insurance in Ontario as outlined above, James Campbell Insurance can set you up with a policy that will provide you with all the coverage you need.
You never know when something can happen to your boat, whether that be a collision with another boat, running aground, hitting something and puncturing your hull, or even theft. However, if you allow us to set up a good boat insurance policy, you will be protected no matter what.
We have been tailoring insurance solutions to meet the needs of our clients for over 40 years. We would be happy to do the same for you to ensure that your boat insurance policy caters to the particulars of your boat, your usage of it, and your concerns.
If you are unsure about what kinds of coverage or the type of add-ons would best suit your situation, one of our insurance experts will gladly answer your questions and offer guidance. When you work with us, you will be assigned a dedicated broker who will do whatever it takes to ensure satisfaction with your policy.
For more information about how we can help you arrange proper boat insurance in Ontario, or to get a quote on a boat insurance policy, call James Campbell Insurance at 1-833-459-1065 or contact us here.