If you own a “water toy” – a boat or some other type of personal watercraft – it’s likely that once the sun comes out in summer, on the water is where you are. But having any type of watercraft, especially a boat, can increase your risk of liability – even when it’s parked on dry land.

We can help make sure you have just the right coverage – we’ll keep “sink or swim” out on the water and away from your pocketbook. But if you have questions about AIM Insurance’s boat coverage, we’ve covered a few of the more frequently asked questions below.

Doesn’t my homeowner’s insurance cover my boat, too?

Well, it might. But that’s only if it’s a smaller boat below 9 horsepower. Leaving it in your driveway just to look at? You might be covered. That’s quite the gamble, though, isn’t it? We think your coverage should be crystal clear like the waters you want to sail in.

But the reality of homeowner’s insurance policies is that you’ll likely face many restrictions – and it would affect your home insurance if there was a claim. The size, brand, and horsepower of your craft all play a role, as well as the type of coverage you want.

Stripped down, this means if you’re not covered under a policy meant specifically for your boat, you probably don’t have the coverage you need. Being underinsured can open Pandora’s Box.

If I’m just keeping the boat parked, or I only take it out on special occasions, why do I even need insurance?

Well, for starters, you probably didn’t buy a boat to admire it from your driveway. And even living in Canada where boating is relegated to just a few months out of the year, Murphy says the potential for an accident of any kind is greater than you imagine. And you can’t get insurance after the fact. Boat insurance is the best way to position your finances in the event you’re involved in an accident. Think of your boat insurance as a shiny, extra hull of protection.

Now, picture someone on the water (or in your driveway!) running clean into that shiny, extra hull.

Is it time to panic? How strong is your protection if that outer hull is breached? How long before you begin taking on water? Our AIM is to ensure that hull of protection can take the most damage for the most reasonable premium.

We’ll carefully guide you through all of your options, recommend the best coverage for your situation, and search for every potential discount you qualify for. That’s why you should come in and chat with us rather than calling up an impersonal corporate insurance company.