In some cases, a small non-motorized vessel might have limited coverage under a home policy, but motorized boats, larger vessels, and equipment like trailers and electronics are generally not covered. A dedicated marine policy gives you proper protection for the boat itself, your liability on the water, and any additional equipment.

Agreed value means you and the insurer agree on the boat's worth upfront — if there's a total loss, you receive that amount with no depreciation applied. Actual cash value factors in depreciation, so a payout on an older boat may be significantly less than what it would cost to replace it. For most boat owners, agreed value is worth the additional premium.

Yes. Significant modifications — adding electronics, upgrading the engine, structural changes — can affect the insured value of your boat and potentially your coverage terms. It's a quick update that makes sure your policy reflects what your boat is actually worth.

Many Canadian marine policies do extend coverage into US waters, but the terms and geographic limits vary by insurer and policy. If you're planning to take your boat across the border, confirm with us beforehand so there are no surprises.

It depends on how it's being used. If you're taking clients out, operating charters, or using the boat to generate income, a standard recreational marine policy likely won't cover you. Commercial marine coverage would be the appropriate route.