Pacific Marine Underwriting Managers Ltd. yacht insurance policies are comprehensive and tailored. With flexible payment options and available coverage enhancements, our brokers can depend on our PMU team in three regional offices across Canada to offer the optimal coverage and service to boat owners.
Yacht insurance coverage
Benefit from the following Pacific Marine yacht policy features:
- Annual policy with no lay up warranty. We recognize that you may want to move your boat and use it in warmer waters, our policy will not restrict you from doing so.
- Your PMU insurance policy will cover your hull & machinery against various perils including underwater damage should you strike a submerged object.
- Boater discounts if you are an experienced boater, claims free and a member of Power Squadron or the Canadian Yachting Association.
- Agreed value coverage. We pay the limit of coverage shown on the declaration page if the vessel is a total loss. No deductible is applied.
- Guaranteed Replacement Cost coverage for vessels three years of age or newer.
- Coverage for partial losses. We pay the cost to repair or replace with materials of like kind and quality with no depreciation applied to your vessel and equipment.
- Personal effects coverage ($2,000). Protect your personal contents on board. As we are 1st Payer, you do not have to make a claim through your home insurance.
- Emergency expense ($1,000). We offer you towing and assistance in the event of a mechanical failure or if you run out of fuel. Using this will not affect your claims free status.
- Yacht Policy Enhancement Endorsement will be added at no additional charge for vessels with a limit of $100,000 or higher. This endorsement increases the Personal Effects limit to $10,000 Reimbursement of Emergency Expenses to $5,000, Loss of Use to $2,500 and Search & Rescue to $5,000.
- Southern navigation option. With our Extended Southern Navigation Coverage, Canadians are now free to set sail and head south and explore warmer waters.
- Loss of use coverage. Your policy includes additional limits for the rental of a substitute vessel or for temporary accommodation expenses.
- Reducing hull & machinery deductible. Benefit from an annual reduction of your deductible if you are claims free for 5 years consecutively.
- $2 million P&I limit. Option to increase liability up to $5 million available
24/7 claim reporting service
A yacht, sailboat or any other large boat is a significant investment we want to help you protect. Your goal is to steer clear from any accidents or incidents that require you to file a claim. However, accidents do occur and we are hear to ensure your claim is handled efficiently and with your best interests as our number one priority. We have a team of dedicated, marine claim specialists to advise you and process your claim.