Boats can be pricey…
Personal watercraft insurance is not legally required in Ontario but it is recommended. Insurance protects your personal watercraft from damage due to an insured loss and it also protects you against liability due to injury or death. If you are financing your personal watercraft, the bank or financing will require you to carry insurance and you will not be able to pick up your watercraft from the dealer until insurance is in place. When looking at insurance for your boat, you have two options. You can add the boat to your existing home insurance policy, or you can purchase a stand alone boat insurance policy.