Individuals & Families

Personal Watercraft Insurance

  • Protection for losses due to mechanical breakdown due to faulty repair, ice or freezing
  • Agreed value
  • Broad navigational limits
  • Unparalleled claims service

Whether you’re into fishing, a fun day of waterskiing, or simply relaxing and making memories with your family and friends, you need to protect the significant investment you’ve made in your watercraft.

Coverage Highlights

  • Replacement Cost. In the event of a covered total loss, Chubb will pay the replacement cost for watercraft insured for less than $1 million and of 3 years of age or less.
  • Agreed Value. For watercraft insured at $1 million or greater, or over 3 years of age, Chubb offers “agreed value” which settles a covered loss before it occurs. You and Chubb agree on the amount you would like to receive in the event of a covered total loss when the policy is issued.
  • Multi-line Credit. In addition to Chubb’s industry leading Watercraft coverage and claim service, we are pleased to offer you a 5% Multi Line credit on your Watercraft premium in recognition of your loyalty, when you have any active Personal Lines Property policy also insured with Chubb Canada.
  • Twelve-Month Navigation. Chubb offers year round navigation - unlike other insurers who require a lay-up period.
  • Navigational Limits. Our Chubb policy automatically provides some of the broadest navigational limits in the industry with expanded West Coast navigation. Optional navigation extensions are also available.
  • Port of New York. Chubb offers a cost-effective optional coverage when your course includes the Port of New York via inland waters.
  • Emergency Towing. For an emergency other than a covered loss, Chubb automatically provides coverage for the reasonable costs of emergency towing and service - up to the limit of physical damage coverage.
  • Personal Effects. Chubb covers your on-board personal effects - as well as those of your guests and crew - up to $25,000 with no deductible.
  • Precautionary Measures. Chubb will pay up to $1,500 for reasonable costs you incur to fuel, dock or haul your watercraft out of harm’s way because it is endangered from a covered peril (i.e. named storms).
  • Marine Environmental Damage. If you cause damage to marine habitat through physical contact with your watercraft, Chubb will cover any damages you are legally obligated to pay - up to $100,000.
  • Broad Medical Payments. Chubb covers expenses for bodily injury resulting from a boating accident - up to $25,000.
  • Uninsured Boaters. Your Chubb policy automatically provides a covered person up to $1,000,000 in damages (with option to buy up to $2,000,000) for bodily injury sustained from a boating accident with an uninsured vessel.
  • Additional Living Expenses. Chubb will provide up to $1,500 - with no deductible - for any reasonable living expense you may incur in minimizing a covered loss and preventing future loss or damage.
  • Physical Damage Deductible Waiver. Chubb will waive the physical damage deductible for partial loss caused by another vessel.
  • Removal of Wreck. Chubb will cover the cost to raise, remove or destroy the wreck of your watercraft when you are legally required to do so - up to the limit of liability on your policy.
  • Ice and Freezing. Your Chubb policy does not exclude losses resulting from ice and freezing.
  • Manufacturer’s Defects. Chubb does not exclude losses caused by manufacturer’s defects.
  • Mysterious Disappearance. Chubb’s physical damage coverage for watercraft does not exclude losses due to mysterious disappearance.
  • Search and Rescue. Chubb will pay up to $10,000 for the reasonable expenses incurred for a search and rescue operation in the event any person is lost at sea from the insured watercraft.
  • Mechanical Breakdown or Faulty Repair. Chubb does not exclude losses due to mechanical breakdown and/or faulty repair.
  • Waterskiing. Chubb does not lower liability limits or exclude coverage when a watercraft is used for water- skiing.
  • Fishing Tackle. Chubb covers up to $10,000 for loss of your fishing tackle - or that of a guest - while they are on board your watercraft. A $250 deductible applies.
  • Trailers. Your watercraft’s physical damage limit includes this coverage up to $5,000 subject to a $250 deductible with higher coverage limits available for purchase.
  • Electronic Navigational Equipment. Chubb will cover this equipment subject to a $250 deductible.
  • Sails and Outboard Motors. Sails and out board motors that are damaged in a covered loss will be replaced “new for old” - provided they are less than 3 years old. Otherwise, Chubb will pay the actual cash value.
  • Full-Time Paid Crew Liability. Liability coverage for all full-time paid crew members, including the captain, is included.
  • Operating Other Watercraft. Chubb covers you while operating other watercraft and offers $50,000 for physical damage. Other policies typically do not provide this coverage.
  • Temporary Substitute Watercraft. Chubb will pay up to $1,500 to charter a comparable temporary substitute watercraft if your watercraft is out of normal use for more than 10 days due to a covered loss. This is generally not covered by other policies.
  • Newly Acquired Watercraft. If you buy another boat, Chubb provides coverage and allows you up to 30 days to report the purchase. Other insurers provide little or no coverage.