It's relatively cheap in most areas (not mine). Get a decent liability
policy at a minimum. Based on the value, and replacement cost, of your
boat get comp and collision to cover what you would need if the boat is
stolen, burns to the waterline, or loses an outdrive or two.

Umbrella policies are inexpensive and worthwhile if you have a large
amount of assets. In the insurance game, if you have $1000, they will
sue for $1000. If you have $1MM, that's the target...

Liability often covers damage you incur to a person, another boat, etc.
as well as anyone playing on your boat even if you don't give
permission. Some will also cover fuel spills that carry fines that can
get very expensive.

I'm not familiar with your boat but most people, unlike many car owners,
can afford to insure a boat that they can afford to own.

Dan ($600/year for $25K insured replacement + large amount of liability
coverage)


Chris wrote:
let me rephrase that then..
What guidelines are there for boat insurance?


"*JimH*" wrote in message
...

"Chris" wrote in message
. ..

Just wondering if it is mandatory that a boat have insurance (like cars,
bikes, etc)???
Specifically in Ontario Canada.

Is this something optional, or what?



If you run into another boat or God forbid, you kill someone with your
boat.....will you still think that insurance is *optional*.

Would you drop insurance on your cars and bikes if it were not mandatory?

If any of your answers is "yes", please stay off the water and the roads.