Changes to your watercraft coverage
As part of our commitment to our customers, we’re updating our watercraft product to better align with the modern boater’s needs. We are no longer offering Boat and Motor Floater coverage and have renewed your policy with the new Small Watercraft product.
What you need to know
When your policy renews, you may be automatically transitioned to the Small Watercraft product.
Here are the key updates that you may see on your Certificate of Insurance (COI) or Summary of Change in your policy package:
| Coverage update | What's changing |
| Lay-up requirement | A lay-up requirement means a period of time when your watercraft must be ashore, winterized, and not used. The new annual lay-up requirement is from November 30 to April 1 inclusive. Please review your policy wording for more information. |
| Navigational Limits Suspensive Condition | The Navigational Limits Suspensive Condition means that your coverage only applies if your small watercraft stays within specific geographic boundaries. The small watercraft product has different navigation requirements than your previous coverage. Please review your policy wording or speak to your broker if you have any questions about the Navigational Limits Suspensive Condition as it relates to your coverage. |
| Sailboat cradle or boat trailer coverage | A sailboat cradle is a stationary support frame designed to hold a sailboat upright on land, usually for storage or maintenance. A boat trailer is a wheeled frame designed to transport a boat over land, typically towed by a vehicle. Your coverage for a sailboat cradle and boat trailer has increased. |
| Operation of other watercraft | Operation of other watercraft means driving, using, or operating a watercraft that is not listed or insured under your policy. You now have coverage for liability and physical damage if you operate a watercraft that you do not own or is not insured under your policy, subject to the terms of your policy. |
What you need to do
You may find these updates on your Summary of Change in your policy package. Your updated coverage is reflected in your policy wording. For further details regarding the changes, please review your policy carefully.
If your watercraft meets any of the following criteria:
- Valued at over $10,000
- Exceeds 50 horsepower
- Longer than 26 feet
Contact your broker to discuss a NauticLife® product that may be better suited for larger or higher valued watercrafts.
Questions?
If you have any questions about these updates or want to discuss your coverage needs, please contact your broker.
The content on this page is for information purposes only. For specific information about a product, or exact terms, conditions, coverage definitions, exclusions and limitations, please refer to your insurance policy wording. In the event or a conflict or discrepancy between this page and your insurance policy, the terms of the insurance policy will prevail. All insurance products discussed in this page are underwritten by Aviva Insurance Company of Canada. Certain services are provided through Aviva Canada Inc.’s contracted third-party services providers. Aviva and the Aviva logo are trademarks used under licence by the licensor. Ovation® is a trademark owned by Aviva Canada Inc.