Your home insurance contract with National Bank Insurance Auto | Home automatically provides protection against liability claims resulting from damages caused by your boat, provided it is not more than 8 metres (26 feet) long and that the outboard engine does not exceed 25 HP (or 50 HP if your boat is equipped with a built-in or a semi-outboard engine). If your boat meets these conditions, you do not need to insure it. If it doesn’t, we can help by providing you with additional civil liability coverage.
Depending on your home insurance policy, the basic coverage amount will be between $1,000 and $6,000. The coverage will be the same as for personal property under your contract. If your boat and accessories are worth more than your basic coverage amount, you can supplement your coverage.
You can cover your boat with an all-risk or specified perils policy. The minimum deductible will be $100, unless you choose to increase it in order to lower your premium. Please note that to cover damages to your boat, you must have liability coverage.
Your car insurance coverage will extend to any type of trailer, including your boat trailer. You can also cover your boat trailer under your home insurance as an accessory for your boat.