Boat Insurance...Prices are up

[Max123]

My broker is Habitat Insurance in Vancouver, and I'm insured with Premier Marine - total premium is $806. Surprisingly 0% change from 2023 to 2024.
I had Johnston Meier provide an alternate quote through a few different underwriters when my policy was up for renewal in June, these are the alternates they provided:

Beacon Underwriting: $1,010
Pacific Marine: $1,140
Special Risk Insurance Managers: $1,083

 

[Corey_lax]

My boat is worth only worth $15k and I’ve accepted the risk of my own errors to date by only doing trailer insurance and the standard BCWF membership insurance (now that I think of it I’m not actually sure if this applies to marine aspects) however haven’t looked that deep into liability risks… has anyone seen a summary/synopsis of the Marine Liability act (admittedly I need to do some reading, or get chat GPT fired up).

I think that BCWF insurance is only liability insurance, not for the value of the vehicle. And you have to be hunting or fishing, not just out for a boat cruise.

 

[leaseman]

A question....
My boat is stored at my home. Due to different issues, it is not being used. I have tried to find a company that will insure the boat for storage, all I hear is they want full insurance.

Any ideas?

 

[abl]

A question....
My boat is stored at my home. Due to different issues, it is not being used. I have tried to find a company that will insure the boat for storage, all I hear is they want full insurance.

Any ideas?

Put a rider on your house insurance

 

[leaseman]

Put a rider on your house insurance

Checked with several agents and go the same answer from each, cannot do a rider for a boat.

 

[Jonnywwdb]

My broker is Habitat Insurance in Vancouver, and I'm insured with Premier Marine - total premium is $806. Surprisingly 0% change from 2023 to 2024.
I had Johnston Meier provide an alternate quote through a few different underwriters when my policy was up for renewal in June, these are the alternates they provided:

Beacon Underwriting: $1,010
Pacific Marine: $1,140
Special Risk Insurance Managers: $1,083

I just did Portside. 67K of value - 3MM liability, full year usage ( no dry land). Everything insured. $730

 

[Jegermiester]

So in 2023 I switched to Portside and was happy with $686 annual insurance. Same coverage this year went up to $892. They just increased the rate by 30% without explanation. Anybody else see this with Portside?

I switched to Portside in 2024 and was very happy with the $345 quote I recieved from Shelley for my 2003 Trophy Pro.
Just recieved my 2025 renewal notice from a different advisor and the quote is now $487, an increase of over 37%.
Deductabiles have also been increased from $500/boat, $250/outboard, $250/trailer to $1000 for each.
They have switched insurance providers from Forward to Travellers however...
Got a follow up call scheduled for Monday and will update accordingly.

 

[abl]

I switched to Portside in 2024 and was very happy with the $345 quote I recieved from Shelley for my 2003 Trophy Pro.
Just recieved my 2025 renewal notice from a different advisor and the quote is now $487, an increase of over 37%.
Deductabiles have also been increased from $500/boat, $250/outboard, $250/trailer to $1000 for each.
They have switched insurance providers from Forward to Travellers however...
Got a follow up call scheduled for Monday and will update accordingly.

Wow that is cheap money