Boat insurance Winnipeg

From the Red River to Lake Winnipeg, if there's one thing all Manitobans enjoy, it's spending time cruising on the water. Whether you spend your weekends fishing at Kings Park, sailing out of Gimli Harbour, or water skiing across the province, boating comes with risks on and off board. From sudden storms to theft and accidents, one wrong move can turn costly.

Although boat insurance isn't legally mandated in Manitoba, many lenders, marinas, and storage facilities require that you have it. More importantly, with coverage in place, you'll have protection during the summertime, so you can enjoy the open water without worry.

BrokerLink compares rates from a wide range of providers, ensuring you get the best deals available.

What is boat insurance?

Boat insurance is designed to protect you and your watercraft when you're out on the open water, whether it be the ocean, a lake, or one of the many rivers throughout Manitoba. It covers more than physical damage to our boat; it also helps pay for liabilities if you injure someone or damage their property, towing, cleanup, and more. While all policies are different, you'll typically find the following protections:

Damage to your boat's hull, motor, and onboard equipment.
Liability protection if third-party injuries or property damage occur.
Theft and vandalism.
Towing and assistance if you break down on the water.
Pollution cleanup and wreck removal if your boat sinks.
Damage caused by severe weather conditions and fire.

Why you need it

Some Winnipeg homeowners assume their home insurance automatically covers their boat. But this coverage is usually limited and doesn't offer comprehensive protection, which could leave you on the hook when repair and legal fees are high.

While Winnipeg and the rest of Manitoba's waterways are beautiful, they can also be unpredictable. From sudden windstorms on Lake Winnipeg to ice damage during the off-season, without coverage, your interests and finances could be at risk.

Types of boat insurance in Winnipeg

Boat insurance in Canada isn't mandatory. But most responsible boat owners choose to purchase coverage regardless. When opting for boaters' insurance in Winnipeg, understanding what is and isn't included in your policy is essential. Coverage can vary depending on your boat model and the insurer you choose, but most policies include standard plans and optional add-ons for extra peace of mind.

Mandatory

Optional

Hull and machinery insurance covers damage to the physical structure of your boat, its engine, and mechanical systems caused by accidents, storms, and fires.

Medical payments insurance covers medical-related expenses if you or one of your passengers is injured on your boat, regardless of who is at fault.

This policy protects against the loss of your boat, motor, or equipment (finishing rods, sails, electronics, etc.) if they are stolen from your boat.

Emergency towing and assistance provide help if your boat breaks down or becomes stranded on the water. This can include fuel delivery, towing to shore, or jump-starting your engine.

This will cover the cost of removing your sunken vessel or cleaning up spills from fuel or oil leaks into the environment.

Liability insurance protects you if you injure someone or damage another person's property while operating your boat. For example, if your boat collides with another on the water, this coverage will cover the cost of repairs, replacements, medical bills, legal fees, and settlements.

Trailer coverage protects your boat trailer during transportation, storage, and while hooked to your vehicle.

Accessories coverage extends protection to specialized equipment you may have on your boat, such as fish finders, sails, speakers, and more, from damage and losses.

Year-round coverage ensures your boat is protected during the off-season from theft, vandalism, or winter storm damage.

Allows you to legally and safely cross the border into the United States while maintaining full boat insurance coverage.