Why is boat insurance important?

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.

What insurance does a boat need?

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.

How much is boat insurance per year?

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

What information should I have when getting boat insurance?

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)

Who has the best boat insurance rates?

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 Red Deer for you!

Do I need a separate policy for my boat?

It is important that boat owners get a separate boat policy to cover their liability in the event of a gas/oil spill. Also, if injuries are incurred in a boating accident, the home policy offers no accident benefit coverage for this either.

What is a major claim category for boats?

The biggest claim category for boats is environmental contamination lawsuits coming from leaking boats and contaminating water systems. If a boat is insured on a home policy - most policies will not cover environmental contamination losses.

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Our Reviews

Carmelo Almanzar

Nov 25, 2025

Excellent Experience

I had an excellent experience setting up the insurance for my first car with Ashley at Surex. She was fast, professional, and incredibly helpful every step of the way. Ashley made the process smooth and stress-free, answered all my questions promptly and found me a great price. Highly recommend her for anyone looking for outstanding and reliable insurance service!!!!

kamil siddiqui

Oct 20, 2025

Great Service

I've been with Surex for 2 years now and the customer service is amazing. Ashley has always been there to answer any of my questions and gets everything done super fast. I have no complaints.

Paul S

Oct 9, 2025

I have nothing but exceptional

I have nothing but exceptional service from Ashley Bushfield at Surex, quickly responds and takes cares of anything I need for my insurance needs… prices are amazing too… thanks for everything you do!! Highly recommended!!

sherri descheneaux

Sep 30, 2025

Mostly great help but I feel when your…

Mostly great help but I feel when your contract wasn’t renewed for car insurance contacting your customers by email should have at least should got a phone call to their customers when the email wasn’t acknowledged by customer for whatever reasons… but something as important as having no insurance should have required a phone call by the company and the broker should have an alternative option for it’s customers

Aziz

Sep 27, 2025

I had a great experience with Ashley at…

I had a great experience with Ashley at Surex. She was able to get me insured the same day and sent over my policy right away. The process was quick, and smooth. I’m very happy with the quality of her work and the service, I’d definitely recommend Ashley and Surex to anyone in Ontario looking for reliable insurance.

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Boat Insurance in Vancouver

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.

Vancouver is an idyllic place to boat and enjoy the scenic views of the province, which is located on the Burrard Peninsula, where it lies between Burrard Inlet to the north and the Fraser River to the south. It is especially popular for sailing as you can sail there almost year-round! Because Vancouver is a coastal city, there are abundant resources for boaters, with many lakes, waterways, and beaches as well as fishing, swimming, sailing and other water activities to keep residents and tourists busy!

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.

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