Boat insurance in Mississauga protects you from financial loss resulting from damage to your boat. If your boat is stolen, your policy covers the cost of replacing the watercraft. Comprehensive boat insurance in Mississauga also offers liability protection, and covers the cost of treatment if someone gets injured in a boat accident that was your fault.
Depending on the coverage, the insurance company may offer towing assistance if your boat breaks down in the middle of nowhere and you get stranded. In case you’re involved in an accident with an uninsured boat owner, your boat insurance policy covers damage. With comprehensive boat insurance in Mississauga you need not worry about the items in your boat such as fishing gear and clothing in case you were involved in an accident.
When selecting a boat insurance policy there are two types of coverage options to consider-agreed value and actual cash value.A policy offering agreed value coverage covers the cost of replacing the boat without accounting for depreciation. Actual cash value is the amount offered by a boat insurance policy to replace the boat-depreciation.
Tailored Insurance Policies
Different boat owners have different coverage needs. When it comes to boat insurance, one size does not fit all. A boat insurance policy that ticks all the right boxes for a boat owner may not be the right policy for you. Our expertise enables us to understand our clients’ specific coverage needs and create tailored boat insurance policies to meet them.
A-team of Experts
We have put together a team of some of the most knowledgeable boat insurance experts in Mississauga, ON. Our professionals understand the principles of boat insurance, different types of boat insurance coverage, and insurance rules. Whether you need comprehensive coverage or protection against specific risks, our team has got you covered.
Proactive Risk Management
Our team works with boat owners to identify risks and create strategies to manage them. Our proactive approach helps prevent problems that can affect the performance of boats, lead to costly repair or cause a boat to break down unexpectedly.
100% Transparency
We do not hide any material facts from our clients. Before a boat owner buys a boat insurance policy from us, our team explains to them all the costs involved and takes them through the claims process, so they know what to expect when filing a claim. We do not charge any hidden fees, ensuring our clients have peace of mind knowing that they aren’t overpaying for their plan.
Loyalty Benefits
We are committed to offering world-class services and products at affordable prices and offer loyalty incentives to our clients. If you already hold an insurance policy by Solidiy Insurance and choose us to meet your boat insurance coverage needs, you may be eligible for benefits such as boat insurance premium discounts, enhanced boat insurance coverage, or additional services.
Customer Support
We provide our clients support every step of the way during insurance claims, helping them navigate the claims process. Our team helps policy holders avoid mistakes when filing boat insurance claims and answers their queries and addresses any concerns in a timely manner.
Consulting Services
There are several types of boat insurance coverage to choose from. When presented with too many options, the average boat owner can feel overwhelmed and end up choosing the wrong type of coverage. We are committed to paving the way for better decisions. Our boat insurance experts explain the different types of coverage options to boat owners and help them weigh the advantages and shortcomings of every option to choose the best coverage type.
To consult one of our boat insurance experts, call our office.
Category | Covered Events | Description |
Inclusion | Damage caused by accidents or collisions | Boat insurance typically covers accidental damage to the vessel, including collisions with other boats or objects in the water. |
Theft or malicious damage to the boat | Theft of the boat or vandalism, such as graffiti or intentional damage, is generally covered. | |
Damage due to fires and explosions | Damage caused by fires, explosions, or related events is typically included in boat insurance coverage. | |
Accidental sinking or capsizing events | If the boat sinks or capsizes due to an accident, it is usually covered under boat insurance. | |
Boat running aground or stranding | Damage resulting from the boat running aground or getting stranded is often included in coverage. | |
Costs of salvaging the boat | Boat insurance may cover the expenses associated with salvaging and recovering the vessel after an accident. | |
Liability for fuel spills and cleanup | Coverage for liability and cleanup costs related to fuel spills may be included in boat insurance. | |
Exclusion | Normal wear and tear | Damage caused by the gradual deterioration of the boat due to regular use is typically excluded. |
Gradual deterioration or maintenance | Expenses related to maintenance and gradual deterioration are not covered by boat insurance. | |
Damage resulting from a covered event | Some policies may exclude coverage for damage that is a consequence of a covered event, such as subsequent engine damage after a collision. | |
Damage while participating in races | Boat insurance may exclude coverage for damage that occurs during boat races, regattas, or competitions. | |
Damage due to acts of war or terrorism | Damage caused by war, acts of terrorism, or related events may be excluded from boat insurance. | |
High-value custom equipment | Specialized, high-value equipment or personal property may require additional coverage or endorsements. | |
Damage in hurricane-prone areas | Some policies may exclude coverage for damage in hurricane-prone areas or impose higher deductibles. |
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Boat insurance is versatile and typically covers a wide array of watercraft. This includes sailboats, powerboats, yachts, personal watercraft (e.g., jet skis), fishing boats, pontoons, and even canoes and kayaks in some cases. The exact types of watercraft that can be insured may vary depending on the insurance provider, so it’s essential to discuss your specific needs with your insurer.
Yes, most boat insurance policies include coverage for passengers injured on your boat. This coverage often falls under the liability portion of your policy. It helps protect you financially if a passenger sustains injuries while on board. However, the coverage limits and conditions can vary between policies, so it’s crucial to review your policy to understand the extent of this coverage.
You can typically make changes to your boat insurance policy at any time, not just during the renewal period. If your circumstances change, such as acquiring a new boat, changing the way you use your boat, or needing different coverage options, you can contact your insurer to make adjustments. It’s a flexible aspect of boat insurance that allows you to tailor your coverage to your evolving needs.
Boat insurance is designed to cover a variety of water activities and locations, including coastal and inland waters. However, coverage may have limitations or exclusions for activities deemed high-risk or for specific geographic areas known for extreme weather conditions or other hazards. For example, if you plan to take your boat into international waters or participate in racing events, you may need to discuss these activities with your insurer and potentially obtain additional coverage.
Yes, many boat insurance policies offer coverage for emergency towing and assistance services. This coverage can be a lifesaver if your boat experiences mechanical failure, runs aground, or encounters other issues while on the water. It typically includes services like towing your boat to a repair facility, fuel delivery, jump-starts, and more. Having this coverage can provide peace of mind and ensure you’re not stranded in a challenging situation on the water.
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