New Marine Liability Act Updates: Impacts on Pleasure Craft Insurance
Safe Harbour Insurance Blog
by Andrea Potter
6d ago
The recent amendments to Section 29 of Canada’s Marine Liability Act (MLA) have significantly impacted the liability limits for vessel owners and operators, particularly affecting those who own pleasure craft in Canadian waters. The statutory limits of liability for incidents involving vessels under 300 gross tonnage (GT) operating in Canadian waters were increased by 50%. Now, claims for property damage are limited to $750,000, and claims for personal injury or death are capped at $1.5 million. These changes were made to reflect inflation since the original limits were established back in 200 ..read more
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Navigating the Economic Seas: A Comprehensive Look at Boat Values and Pricing in 2024
Safe Harbour Insurance Blog
by Andrea Potter
1M ago
This article will take a comprehensive look at boat values and pricing.The world of boat ownership is intricately connected to economic fluctuations, with boats being subject to the ebb and flow of various factors. As we delve into the nuances of the current economic climate, it becomes evident that boat values and prices are not immune to the influences of consumer behaviour, interest rates, supply chain issues, and global economic trends. Consumer confidence and spending Consumer confidence serves as a barometer for the boat market. In times of economic prosperity, increased discretionary sp ..read more
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Ready, Set, Sail: A Guide to Buying Your First Boat
Safe Harbour Insurance Blog
by Andrea Potter
1M ago
Canada’s breathtaking lakes, rivers, and coastal regions offer many opportunities for water enthusiasts. If you’ve ever dreamed of owning your very own boat to explore the vast Canadian waters, you’re not alone. Buying your first boat is an exciting journey, but it’s essential to navigate the process wisely to ensure a smooth sail ahead. As exciting as it can be to hop on board, we highly recommend you spend time investigating the process. In this guide, we’ll take you through the essential steps to help you embark on your boat on buying your first boat. Define your boating goals Before you se ..read more
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The excitement of the 2024 Toronto Boat Show
Safe Harbour Insurance Blog
by Andrea Potter
1M ago
Hang on to your sails, the 66th annual Toronto International Boat Show – North America’s largest indoor boat show – is taking place in Toronto from January 19 to 28, 2024. This truly awesome Canadian event features over 450 exhibitors, hundreds of seminars, an indoor lake, a wakeboard championship, contests, and sailing information. Visit our Underwriting Partner, Pacific Marine Underwriting Managers at Booth 1736 This year is proving to be a stellar year, showcasing many new and improved boats. A wide range of vessels will be on display, from small personal watercraft vessels to boats over ..read more
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Boating Adventures in the Caribbean
Safe Harbour Insurance Blog
by Andrea Potter
2M ago
Amid a Canadian winter, where icy winds orchestrate a symphony of icicles and snowflakes, there exists an innate longing among boaters for a journey southward. Escaping the breathtaking yet chilly Canadian north becomes an enticing prospect, inviting sailors to navigate the warmer waters of the south. For Eastern Canadians, the Caribbean is a region marked by a diverse tapestry of cultures shaped by a complex history, blending indigenous, European, African, Asian, and Middle Eastern influences. While each island boasts a unique identity, common threads weave together the rich fabric of Caribbe ..read more
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Preventing the top 5 boating accidents
Safe Harbour Insurance Blog
by Andrea Potter
6M ago
Summer is still in full swing for another month, and it’s the perfect time to enjoy Canada’s beautiful waters. With one more long weekend in the forecast, it is important before you set sail to talk about boating safety. Did you know that many boating incidents and fatalities are preventable? We’re here to share crucial information to keep you and your favourite mates safe on the water. Top causes of boating accidents: Many boating-related incidents and fatalities occur due to these key factors: Not wearing a lifejacket or PFD (Personal Flotation Device) Falling overboard Operating a pleasure ..read more
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Best boat maintenance: Tips and tricks to avoid damage
Safe Harbour Insurance Blog
by Andrea Potter
7M ago
It is mid-summer in Canada, and you may have just bought your dream boat. Ahoy there, new boat owners! Welcome aboard the fantastic world of boat ownership, where adventures on the high seas await you! Owning a boat can be an absolute blast, but it’s crucial to give it the love and care it deserves to avoid pesky and costly repairs. Being a new boat owner comes with a responsibility to maintain and protect your investment. Here are some boat maintenance tips and tricks to avoid damage. Be Best Buds with Your Boat’s Manual: It might not be as thrilling as a treasure map, but your boat’s manual ..read more
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A comprehensive guide to buying a used boat
Safe Harbour Insurance Blog
by Andrea Potter
8M ago
The last few years have been tough for those looking to buy a pleasure craft in Canada. Supply chain interruptions have curtailed manufacturing, leaving little inventory in the market for new boats. Buying and selling used boats can be an exciting and financially savvy option for boating enthusiasts. Whether you’re a seasoned sailor or a first-time boat owner, understanding the intricacies of boat depreciation, the importance of a pre-purchase hull survey and the role of a broker are key factors to consider when purchasing or selling a used boat. We talked to Carson Thompson, a seasoned boat o ..read more
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Top reasons to insure your tender separately
Safe Harbour Insurance Blog
by Andrea Potter
8M ago
If you own a boat, you will likely have a dingy or a tender. Having a second smaller vessel for your boat can offer several benefits and enhance your boating experience in various ways. The number one purpose is to have a secondary vessel for safety purposes. Additionally, the tender offers an alternative mode of transportation to beaches, docks, and marinas where a larger boat may not be suitable. It can provide an opportunity for fun water sports. If you have a second boat that you use on a regular basis and not just to service the larger vessel, we recommend having the tender insurance sepa ..read more
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8 tips to prevent boat theft
Safe Harbour Insurance Blog
by Andrea Potter
8M ago
Boat theft does occur in Canada, depending on a few factors, such as the location of the boat, the type of boat, and the security measures in place to protect it. In recent news, reported by the Vancouver Sun on June 28, 2023, 14 boats were stolen from a secure business in Kelowna, BC.  Thieves are brazen and it is important to learn the 8 tips to prevent boat theft. According to statistics from the Insurance Bureau of Canada, boat thefts account for a small percentage of overall thefts in the country. In 2019, there were approximately 1,000 reported cases of boat theft across Canada, rep ..read more
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