How much is boat insurance?

Question

We are thinking of getting a 7 seater little family boat. We are in Ontario, Canada so will only be using it a few months of the year. How does insurance work for boats and what is the approx. cost?

Answer 1

Find a boat you would like to have then call your ins agent. It is not expensive. Allot cheaper than your car ins.

I live on the Gulf Coast and my Ins is $40 a month with full coverage on $28,000

Answer 2

Sounds like you will have your boat on a trailer most of the time.  Insurance costs will vary on a lot of items, value, size of engine, usage, what the fuel source is (gas or diesel), where you live, etc.

One way to reduce your insurance costs would be to take a safe boating class or classes through your local power squadron.  I have been involved with the U. S. Power Squadron for several years, you have the Canadian Power Squadron there.  When you insure, there is usually a break there, and there is also insurance offered through them.

I would guess that your boating insurance would run about $250 per year.

http://www.cps-ecp.ca/?WCE=C=47%7CK=2246...