Roads and roads can lead you to some incredible destinations, but the path is always the same and you have no control over it. A boat can take you to some amazing places, but the real fun is in the journey. Every journey out on the sea is an experience, and no two are alike.
There’s a lot to think about when buying a boat; what kinds of travels do you wish to take? The answer will help you decide which boat is suitable for you, where to buy and store it, whether you need to license or register it, and how to sell or dispose of it when you’re ready to move on.
There is a lot to think about when choosing the ideal boat for you and your family. What kind of boating do you want to do? Are you planning on using it for day trips or long-term cruising? What is the maximum number of persons it must accommodate? How much money do you want to put down?
Discover Boating Canada, one of our partners, has a comprehensive boat selection tool that can assist you in making the best decision. You may read about it here.
If you’re buying a new or used boat, we strongly advise you to work with a dealer or certified broker. They’ll lead you through the process step by step, make sure the boat has been properly maintained and assessed, and help you with marine financing, insurance, and after-sales support once you’re out on the water.
Of course, there are numerous pre-owned boats available for private sale, which is another possibility. Most used boats have flaws, and you’ll want to know all about them before making a selection. Pull the boat out of the water and have a surveyor look at the hull. A mechanical survey should be performed if the boat has an engine other than a modest outboard.
If you decide to buy a boat privately, request a written receipt that you may maintain as proof of purchase and ownership for licensing purposes.
The type and size of your boat, as well as your location and budget, all play a role in boat storage.
Trailer storage, dry rack storage, in-water moorage, a boat house, or a yacht club are all options.
Keeping a boat on a trailer at home: Keeping a boat on a trailer at home is the most cost-effective way to store your boat, but there are a few things to keep in mind:
- You’ll need a spacious yard or driveway to keep your boat, as well as a car capable of towing it.
- It will be more difficult to go on a spur-of-the-moment excursion because you will need to hook up your trailer and commute to the nearest boat launch, but you will have the freedom to drive to a variety of sites.
- Painted trailers are attractive on the showroom floor and function well in a freshwater environment, but if you plan to use your boat in saltwater, a boat with a galvanized or aluminum frame will provide higher corrosion resistance and provide you with many years of enjoyment.
- If you’re buying a secondhand trailer that’s been in salt water, get it inspected by a professional from a local dealership, boat yard, or marine service center to avoid costly repairs down the road.
- Make that your trailer is the right size and weight capacity for your boat, and that it meets Transport Canada’s marker and light regulations, as well as the license and braking requirements of ICBC.
- Your trailer will need to be insured with ICBC, which costs around $200 per year.
Rack or Dry-Stack Storage: Many marinas across the province provide this service. Rather than purchasing a marina slip, boats are stored on enclosed racks and are hauled out when you wish to go boating and returned to. Some factors to think about when it comes to rack storage:
- Your yacht is weatherproofed, and the finish is retained, which prevents corrosion and lowers maintenance expenses.
- There’s no need to tow and launch your boat yourself because dry-stack operators will do it for you.
- Dry-stacks are usually found in a marina, which often includes other amenities like mechanics, parts, boat dealerships, and, of course, other boaters.
- You must make preparations to launch your boat before arriving; on a busy day, you may have to wait.
- Because you won’t be plugged into a power source, the batteries won’t be charged and the refrigerator won’t run while you’re storing it.
- Your boat isn’t available 24 hours a day; if you want to work on it or fiddle with it, you’ll need to make arrangements ahead of time.
In-Water Moorage: Keeping your boat in a marina spot allows you to untangle from the dock and head to your next location quickly. Marinas provide a variety of different services to support your boating interests, as well as a social hotspot where you may meet other boaters and industry professionals.
- When looking for a marina, start by deciding where you want to moor (geographically), then contact the marinas in that area; if moorage is not available, work your way out. Place your name on waiting lists and keep in touch with them on a frequent basis.
- What security services are accessible, is the depth sufficient, what type of growth can I expect (muscles, barnacles, etc. ), and what power services are available are all things to consider.
- The cost of a marina depends on the location, services provided, and the state of the marina.
- Before signing a moorage agreement, always visit the marina to ensure if it is a suitable fit for you.
- If you dock your boat in the water, you should consider painting the hull bottom with eco-friendly anti-fouling paint and changing the sacrificial anodes once a year (zincs).
Yacht clubs are more than just a spot to dock your boat; they’re also a place to form a social network that you can enjoy both on and off the water. Yacht clubs don’t have the same level of on-site service as a conventional marina, but they usually include eating facilities, hold activities on and off the water, and some have reciprocal agreements with other clubs and outstations or destination marinas that are included in membership. Yacht clubs often have lower moorage rates than commercial marinas, but you’ll still have to pay a club due and, depending on the club, a minimum meal and beverage price.
Recreational boat insurance is not required in Canada, however it is strongly recommended. The correct insurance coverage will provide you peace of mind while also safeguarding your investment and the individuals you welcome aboard. Because policies differ so much, it’s important to speak with a marine insurance broker about your individual requirements. A list of brokers who work in BC can be found here. Learn why you should think about getting insurance.
Unless they have a vessel registration, any pleasure craft with an engine of 10 horsepower or more are required to have a Pleasure Craft License (PCL) issued by Transport Canada. The process of obtaining a new PCL, or transferring an existing one, is simple and can be conducted online or by mail within 90 days after purchasing a yacht. A PCL is completely free and valid for ten years. You are responsible for updating your license information if you relocate or if any of your personal information changes during that period.
You must display your PCL number above the water level on both sides of the bow of your boat and carry a copy of your card when on board. If you are caught operating a vessel without a license, you will be fined $250.
You should register your boat with the Canadian File of Vessels if you want to have an approved name and port of registry for your vessel, register a marine mortgage, or demonstrate proof of ownership. The registration of your vessel costs $250, and the transfer of registration costs $150.
We recommend listing your boat with a certified broker or dealership when the time comes to sell it. Their knowledge is your piece of mind; they will handle all of the details on your behalf, and they are a go-to resource for anyone looking for a used boat because they sell them all year.
Is it illegal to not have boat insurance?
Are you ready to have a good time in the sun? Make sure you’re not breaking any local boating rules before you take your new boat, jet ski, or personal watercraft (PWC) out on the water. While certain laws are self-evident, there are also highly precise restrictions for PWCs and boats.
Is it necessary to have boat insurance if I’m only riding a jet ski? Is there a distinction between that and insurance for jet skis?
First and foremost, check to determine if you’ll need to register your boat. California mandates that your PWC or boat be registered at the DMV if it is greater than 8 feet in length. There are a few exceptions:
- Sailboats with a length of 8 feet that are not propelled (most jet skis, wave runners)
- Currently registered vessels in another state (if used primarily outside California)
Although you are not required to have boat insurance or a boater’s license in California, there is a minimum age requirement to drive certain water vehicles, akin to driving a car.
- If you have an adult on board who is at least 18 years old, you can operate any motorboat with more than 15 horsepower or sailboats over 30 feet if you are between the ages of 12 and 15.
- All children under the age of 13 must wear a life jacket when on board a boat or watercraft that is 26 feet or less in length, including PWCs, according to California state law.
- A life jacket is required for anyone riding a jet ski, wave runner, or other personal watercraft (PWC) that is being towed behind a vessel.
- Make sure you have enough life jackets for everyone on board a boat, and that they’re easily accessible.
While boat or jet ski insurance is not needed by law, it is highly recommended because they carry a certain amount of risk. Jet ski insurance (also known as PWC insurance) provides coverage equivalent to that of a car in the event of a collision or damage to the vehicle, yourself, or others:
All PWCs must be fitted with a lanyard cutoff switch that is connected/attached to the person operating the vehicle, according to one PWC-specific regulatory requirement. The laws governing PWC and boat operation are primarily concerned with passenger safety, as well as the safety of bystanders:
- It is prohibited to operate a boat while under the influence of alcohol or narcotics.
- If you’re within 100 feet of a swimmer or 200 feet of a coastline, swimming float, diving platform, or landing, slow down to 5 mph.
You won’t have to worry about speed limits on your PWC or boat for the most part. However, in locations where speed limits are posted, be sure to follow all signs. There may be county or city-specific rules in addition to state ones, so be sure to educate yourself with these.
To operate a boat, jet ski, or other personal watercraft (PWC), what equipment do I need?
If you’ll be operating a PWC or will be transporting passengers, it’s a good idea to look into getting boat or jet ski insurance estimates. In the event of an accident, the coverage may help protect you from liability difficulties.
How much does it cost to insure a boat in BC?
What should my insurance budget be? If your powerboat is worth less than $100,000, you should anticipate to pay 1% of the insured value, or around $1,000 every year. A $500K boat is worth about.5% of its original value.
Do boat owners need insurance?
In most states, boaters are not required to acquire insurance for their vessels. However, if you want to use a slip or mooring, many marinas require proof of insurance. If you’re financing the purchase of a boat, your bank will also require insurance.
Why is boat insurance so expensive?
Aside from where you live, other factors influence the cost of boat insurance, including:
- Fishing boats, pontoon boats, sailboats, and other personal watercraft all have distinct features that can affect the price of your insurance.
- The horsepower of the boat: Boats with more powerful motors, such as powerboats, have higher rates.
- Insurance costs may be lower for more experienced boaters than for novice boaters with less expertise on the water.
What does boat insurance typically cost?
The average cost of boat insurance is $200 to $500 per year, while insurance for a very large or costly boat (such as a yacht or sailboat) might cost 15% of the boat’s worth. For example, a $100,000 boat might cost around $2,500 per year to insure.
Boat insurance costs vary depending on you and your boat, just like other insurance rates.
Do boat trailers need insurance in BC?
Your boat trailer must have a license plate and liability insurance, according to ICBC. We’ll gladly assist you in getting everything taken care of all at once so you can get out on the water and enjoy your boat.
Can you sail without insurance?
There is no federal law in the United States that requires all sailboats to be insured. Â Most states do not need sailboat insurance, unlike vehicle insurance. Â Arkansas and Utah are the only two states that require boat insurance as of 2019. Surprisingly, Utah and Arkansas both have few navigable waterways (with the exception of the Mississippi and Arkansas rivers), and rivers aren’t the best area for sailing vessels anyhow. Â You’re unlikely to buy a full-size sailboat in either of those states, but if you do, you’ll be required to insure it.
There is no necessity to insure your yacht throughout the remainder of the country. While it may appear to be a great way to save a few dollars, the legal ramifications of an accident can be devastating. Â Even if it was an accident, you would most likely be held liable for any damage caused by your boat. Boat repair can be extremely costly, and it only takes a small amount of damage to cause significant damage. That isn’t to suggest you won’t have an accident; many seasoned sailors go their entire lives without having one. The point is that you’ll want to be covered if something unforeseen happens, regardless of how or who is to blame.
Insurance isn’t just for personal injury or property damage. The environment is protected by federal law in every state. Remember that if your boat sinks in a protected area, you are responsible for preventing (and, in some situations, correcting) environmental harm. Additionally, you may be responsible for the cleanup of fuel and chemical leaks. Â Someone will have to pull you out if you run aground or become stuck in a congested area. Â Towing services are costly, and you will be responsible for paying whoever comes to your rescue. Â It becomes significantly more dangerous if you collide with a commercial vessel. An insurance policy can cover the costs of emergency transportation as well as environmental cleaning. You could be forced against your will into an item or aground if a negligent speedboat disregards a âno wakeâ sign. Â Collisions with docks, buoys, and other marine infrastructure can cost thousands of dollars to repair, and they aren’t always your fault.
Can you drink on a boat BC?
Driving a boat while under the influence of alcohol or drugs is punishable in Quebec with fines and penalties. These are the same rules that apply to driving under the influence of alcohol or drugs.
In Quebec, boaters are allowed to have open alcohol on board while the boat is in motion. Additionally, the boat operator may consume alcohol if their blood alcohol concentration (BAC) does not exceed the legal limit of 80 mg.
For additional information on Quebec’s boating and alcohol rules, contact the Sûreté du Québec (SQ).
A person who operates a boat while intoxicated in B.C. faces fines and penalties. These are the same fines that a person who uses a motor vehicle while intoxicated faces.
For further information on the regulations governing boating with alcohol in British Columbia, contact the RCMP of British Columbia.
Is boat insurance a good idea?
When it comes to determining average boat insurance premiums, the general rule of thumb is that you’ll spend roughly 1.5 percent of the value of your boat in annual rates.
A yacht valued roughly $20,000 would cost around $300 per year to fully insure.
If you own a $100,000 watercraft, you may expect to pay around $1,500 in insurance.
And the $2 million yacht will set you back around $30,000 per year. (I’m sorry, but multimillion-dollar yachts are prohibitively expensive to insure.)
However, those figures are only meant to serve as a guide because there are other factors that can affect the cost of your boat insurance, and don’t worry, many of them actually lower the amount you’ll pay for marine insurance.
Shop Around for the Best Boat Insurance
Most major house and auto insurance companies also offer boat insurance (often referred to as personal watercraft insurance).
Check with any insurance companies you currently have and see if they can supply you with additional coverage. If they can, they’ll want to keep your business in-house and may even give incentives!
Check out USAA, Progressive, State Farm, and other large suppliers in addition to your regular insurer.
What Factors Affect Average Boat Insurance Pricing?
There are numerous factors that might raise the cost of your boat insurance, but there are also numerous strategies to minimize your boat insurance costs.
Let’s take a look at some of the most prevalent factors that influence the cost of boat insurance.
Safety Record
The fewer years you go without a boating accident or citation, the lower your boat insurance premiums will be. Being a safe boater is also beneficial just for the sake of avoiding bodily injury and property damage.
Homeowner’s Discount
If you own a house, your boat insurance premiums may be reduced as a result of that asset. This could be included in a “bundle” offered by your insurance.
Even if you have house insurance with one company and boat insurance with another, the latter may regard your home ownership as a good basis to give reduced boat insurance prices.
Payments
It’s fine if you pay your boat insurance by the month or a few times a year; in fact, it’s quite common. You’ll likely get a cheaper rate if you pay for the entire year’s boat insurance in one flat sum.
Boat Age
In the same way that newer automobiles are more expensive to insurance, newer boats are usually more expensive to insure. There is one caveat, though.
Buying an old boat, contrary to popular belief, may not result in lower insurance prices. Many insurance providers may give you a lower premium if you insure a yacht that has only one owner. As a result, rather than replacing an older boat, it is generally more cost effective to preserve it and repair and update it as needed.
What Does Average Boat Insurance Cover?
And now we get to the most essential question of all: what exactly does boat insurance cover?
Take the time to personalize your boat insurance plan to meet your specific requirements. Consider what you and your family require in light of your unique circumstances. To get you started, here are a few of the items that most boaters consider to be very important and are covered by the average boat insurance policy:
Medical Costs
If someone is hurt in a boating accident that is determined to be your fault (or the fault of someone in charge of your boat), your boat insurance policy will most certainly pay a significant portion of the medical costs associated with the boating injuries.
This is also true if you or a passenger on your boat is injured in an accident caused by someone else. This is critical, particularly if the other parties involved made the unfortunate decision to forego boat insurance!
Liability Expenses
Regardless of whether medical bills were incurred as a result of a boating accident, legal fees are frequently incurred. If you don’t have adequate boat insurance coverage, they might be disastrous.
Property Damage
If your boat is involved in an event that results in property damage to another vessel, a pier or section of a marina, or even to itself, you’ll be glad you have boat insurance because the repairs or replacements will be covered by your insurer rather than your personal bank account.
Personal Effects
A decent boat insurance policy will help you replace or repair anything lost or destroyed while you’re boating, such as fishing gear, navigation hardware, and possibly even personal items like jewelry or a phone.
Look for Great Boat Insurance Rates Each Year
Once you’ve purchased a boat insurance coverage, don’t think you’re done with the procedure once you’ve made your payments.
Insurance firms run television and web ads all the time for a purpose. They want you to join them and change your plans.
Many insurance firms may entice you to switch to their brand by offering attractive rates and incentives, so look around from time to time.
By constantly choosing the best possible boat insurance plan, you might save thousands of dollars over time.