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Boat Insurance in Alberta
A popular and fun summertime activity is boating, even though in most provinces you only use your boat for a few months out of the year, it is still important to have it insured all year round.
Boating is a popular recreational activity in Alberta, as well as a mode of transportation for some! From canoeing to jet boating you can find a wide range of boating preferences here. Although Alberta is a landlocked province, there are still many lakes and rivers to enjoy. There are 600 freshwater lakes and 245 rivers, and many of them are boat-friendly. Alberta has many beautiful clean, iconic lakes for people to enjoy, from glacier-fed Lake Minnewanka, located in the Rockies of Banff National Park, to wake surfing on Lake Newell or canoeing on the picturesque Lake Louise (power boating is not permitted on this lake), Alberta has something for everyone!
No two boats are alike so make sure you speak with one of our Advisors to get the best advice. We'll provide you up to 10+ quotes from Canada's top boat insurance providers, getting you the coverage you need, for the best price possible.
Boat Insurance in Alberta
Boat insurance covers you in the event of a loss or damage to your watercraft. It covers most watercraft with motors, including fishing boats, paddle boats, leisure crafts, even yachts (for you high rollers!). For smaller boats, you may find some limited coverage under your homeowner's policy, so it's best to chat with your Surex Advisor about what you're covered for and what you need to add to your policy when you buy a boat.
Yes, you do need a boating licence in Alberta to legally drive any type of motorized boat in the province. It is also referred to as a pleasure craft operator card or PCOC. The Canadian PCOC is required across the country for all ages, types of motorized boats, and engine sizes. You can also check this post on how to register a boat in Alberta.
The amount of boat insurance you will need depends on a number of factors such as the value of the boat, the motor size, the age and how you use it (speed boat vs a pleasure cruiser). For example, if you bought a new high-performance speed boat, you will need more coverage for bodily injury and property damage liability than you would if you had a pleasure cruiser.
The general rule when it comes to figuring out the average boat insurance prices is that you'll pay about 1.5% of the value of your boat in annual rates. So, to insure a boat worth around $50,000, it would cost you only about $750 per year to have it fully insured. Typically it will cost $200-$500 per year.
This is similar to the information you would give out when getting auto insurance, here is the information you would need to provide:
- The length, type and value of your boat
- The condition of the boat and the market value
- How often the boat is used, what it is used for and where you store it
- The waters you take the boat out on and if you ever charter your boat
- The experience, loss and claims history of the owners and/or operators
- Any clubs the owners are members of (Sail Canada, or Canadian Power and Sail Squadrons)
It's best to shop around and compare, and that's exactly what we do for you at Surex! We work with the top insurance companies in Canada to provide you with the best rates for your situation. We can find the right boat insurance in Alberta for you!
Best Places to Boat in Alberta
- Lake Minnewanka
- Sylvan Lake
- Ghost Lake
Best Places to Fish in Alberta
- Crowsnest Pass
- Lesser Slave Lake
- Cold Lake
Best Lakes in Alberta
- Lake Louise
- Moraine Lake
- Bow Lake
Helpful boat insurance guides
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