Marine Insurance

For recreational vessels, boat insurance is not legally mandated by the province; however, it is effectively essential. Nearly every marina on the BC coast requires proof of liability insurance for moorage, and most lenders require full coverage as a condition of financing your vessel.

A standard pleasure craft policy typically includes Hull and Machinery (physical damage to the boat and motor), Third-Party Liability (protection against injury or property damage to others), and Emergency Towing and Salvage. It also often covers personal effects on board, such as electronics and fishing gear.

Yes. If you use your vessel for any commercial activity—such as whale watching, eco-tours, or commercial fishing—you must meet specific Transport Canada requirements. These policies include specialized Protection and Indemnity (P&I) coverage to protect against passenger injury and environmental liabilities.

Many policies include specific Navigation Limits that may only cover coastal BC waters. If you plan to cruise into U.S. waters (such as the San Juan Islands), you must ensure your policy is extended to cover those geographic areas to avoid a gap in protection.

The cost is influenced by several factors, including the vessel’s value, its horsepower and engine type, your previous boating experience, and whether the boat is used for recreation or commercial business. Because Stratis focuses on education, we help you understand these factors to find a plan that matches your specific navigational habits.

While some homeowners’ policies offer limited coverage for small, low-horsepower watercraft (like a canoe, kayak, or a small aluminum skiff), this protection is often very restrictive. It typically excludes higher-value equipment, specialized liability (P&I), and environmental cleanup costs. For most vessels operated in BC’s coastal or inland waters, a dedicated marine policy is necessary to ensure you have the specialized salvage and liability limits required by local marinas.