Boat insurance

[hparrott]

So I bought a jet boat from Alberta and I'm having troubles figuring out how to get through the hoops to bring it home insured. I have learned I can get an in-transit permit in Alberta and then temporary insurance in BC, but that is only for the trailer. The insurance companies I have called in BC are unwilling to provide insurance for the boat. I'm being told that because I have paid only a deposit and don't have a bill of sale, I cannot put insurance on the boat. Doesn't make sense to me why I can get insurance on the trailer but not the boat....I haven't fully paid for either. I think I'd be a fool to pay in full for a boat I've never seen, just for insurance purposes, BUT it would really suck to wake up in the morning after a 11 hr drive to Alberta to find out the boat I just bought is missing at our hotel......any suggestions or ways around this??

[Dannybuoy]

not sure but cant you insure it after you buy it ? at an any insurance company ? Its not like ICBC but would be thru private insurance

[Ride Red]

Have it all set up with your insurance agent and once you've paid, fax them a copy. Nobody will insure you unless you can prove title.

[Sniperdan]

Add the boat to your house insurance. As Ride Red said, have it all set up ready to go and then just email the docs and pics of the boat when you pick it up.

[ryanb]

Sounds like you are dealing with insurance agents not familiar with marine insurance. Call Johnston Meier Insurance. They have a dedicated marine division and will help you out. You should have no trouble arranging insurance prior to the sale.

[Iron Glove]

ryanb's suggestion is good.
Johnston Meier in Po Co have good people who are familiar with marine insurance, HUB in Burnaby, Navis in West Van are also very qualified. I've likely taught Marine Insurance at one time or another to whoever you speak to. :smile:
Whoever you choose to deal with, ask about theft coverage in transit / storage, many, if not most boat policies for trailerable boats will have limited conditions on theft such as "must be in a locked enclosure" or "trailer must be secured with a locking device" and such. If it's simply sitting on your trailer in the back of a Motel parking lot you might not be covered.
Fully explain the financials to them so they are aware of the situation and they can arrange the insurance accordingly.
Doubt you can add it to your Homeowners, likely too big or the HP exceeds the usual HO limits.
I'll add my usual advice: "Don't buy the cheapest insurance, buy the best coverage."
All Insurer's policies are different, make sure the one you get meets your needs.

[Kapow]

I built my jetboat myself. Never registered but had no problem getting insurance. I went through Capri as they were more like a broker. Had to send pictures of the boat floating and serial numbers on the engine (Sportjet has the pump serial # on the engine). It cost me 500$ for the year and it's insured for 27000$. The insurance company that Capri set me up with is Premiere Marine out of Ontario. Go figure? Make sure you are covered for all the ins and outs like buouy, rivers etc.