Skip to main content
RH Insurance logo
RH Insurance logo

Compare boat insurance quotes and connect with a broker today

Looking for cheap personal watercraft insurance? Speak to a licensed RH Insurance broker today, so you can secure the coverage you need.

schedule a call
  • Quick & Easy

    I got my first insurance from RH insurance! The process was super smooth and really quick! Amith was a great help throughout the process! He also got me the cheapest possible plan! Highly recommended!


    Google Reviews - August 2022

  • First Time Insurance Buyer

    Amith Patil was assisting and suggesting me for the insurance, as I was a 1st time insurance buyer in Canada he was very much helpful and got me a better deal compared to other insurance online. Process was very smooth and quick too.


    Google Review - August 2022

  • Super Human Service

    Morgan Roberts: Super human being providing service that can only be dreamed off. She did my home insurance super fast and gave me all the correct legal documents to ensure I have no hiccups with the lawyer. When my lawyer had hiccups, she dropped everything to make all the new changes lawyer requested last minute. What an amazing person. She deserves a promotion and a huge raise. This is the type of people who should be running the company.


    Google Reviews - June 2022

How to get an RH Insurance policy

  • Step 1: Contact our brokers

    Call 1-888-616-1868 to speak with one of our licensed marine insurance brokers.

  • Step 2: Share some info

    Provide us with a few details and receive customized boat insurance quotes from our top providers.

  • Step 3: Finalize your policy

    Select your lowest rate and secure the personal watercraft insurance coverage you need.

What you need to know about boat insurance

Boat insurance protects your personal watercraft – such as your sailboat, motorboat, or yacht – financially against risks of damage and loss. It can also cover you if you’re held liable for injuring another person or damaging their property while operating your vehicle. 

So is boat insurance required? Generally speaking, boat insurance isn’t required by law unless it’s stipulated by the marina or your financier. Despite so, it’s always a good idea to protect your investment from risks, such as collision and theft. And if you’re ever sued for property damage or bodily injury, you could be in deep financial trouble without the right policy in place.

While some home insurance policies provide some protection for boats, it’s a good idea to purchase marine insurance separately to ensure you have adequate coverage in place. Your home insurance premium could increase substantially after making a boat claim, and there are usually many stipulations and exclusions on your homeowner’s policy.

What does boating insurance cover?

Every boat insurance company is different. While one provider may have a full package of coverages included on a standard policy, you may need to purchase additional endorsements for a customized policy with another. Here are the different types of boat insurance you can ask your broker about.

Your boat


Medical benefits

Personal belongings

Emergency towing

Loss of use

Pollution and wreck removal

Navigational extension


How much is boat insurance in Canada?

While boat insurance rates differ on an individualized basis, you can expect annual coverage to cost about 1.5% of your watercraft’s total value. To find the exact premium you’ll be paying, be sure to connect with one of our licensed brokers today.

get a quote

How to get cheap boat insurance in Canada

  • Multi-policy discount

    Purchasing your auto, home, and boat insurance under the same provider can bring large rate reductions.

  • Group discount

    Members of certain corporations and clubs often receive boat insurance discounts, so be sure to ask your broker.

  • Marine training discount

    Completing an approved boat training course often comes with discounts on your coverage.

Factors that impact your personal watercraft insurance rate

  1. Type of boat

    The type of boat you’re looking to insure can influence the cost of your insurance greatly – a motorboat comes with a different set of risks when compared to a sailboat. In general, the less risk your vehicle brings, the cheaper your premium will be.

  2. Value, length, and age of boat

    The more expensive your boat is to repair or replace, the more you’ll be paying to protect it. If your boat is on the older side, you may also be asked to complete a boat survey by your insurer.

  3. Location

    Charting your boat in the ocean versus charting in a quiet lake brings different levels of risks, therefore factoring into your boat insurance premium. Areas without coastlines also tend to come with cheaper rates as it limits the risk of a damage claim.

  4. Marine training

    By graduating from an approved marine training course, you not only earn points for safety, but many insurance providers will offer you a discount.

  1. Past claims history

    Having numerous boat insurance claims from your past isn’t a good look to insurers, so you could face a large rate hike. On the other hand, a clean history comes with cheaper rates as it shows providers you’re low-risk to insure.

  2. Boating experience

    A boater with a decade of experience navigating the waters won’t be paying the same premium as a brand new boater – the less risk you bring, the cheaper your boat insurance rates will be.

  3. Boat usage

    The more you take your boat out on the water, the more expensive your premiums will be. And the activities you use your boat for, as well as how you store it, also make a difference when it comes to shopping for insurance.

  4. Driving history

    Did you know some insurance companies also look at your driving history when calculating your boat insurance quote? A clean driving record hints to insurers that you’ll likely be a safe boater too, lowering your watercraft’s coverage rate.

Let's see if we can find you the cheapest boat insurance policy.

Connect with one of our licensed brokers today, so you can secure the coverage you need for your personal watercraft or boat.

Expand your insurance knowledge