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Boat Insurance

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L.D. Dermody Insurance can help make your time on the water relaxed and worry-free! We offer comprehensive boat insurance options that protect you, your friends and family, your watercraft and your boating equipment.

Product Lines

Some of the different types of boats our companies can consider are:

  • Small RunaboutsLow Cost
  • Trailerable Boats
  • Tournament Ski/Wake Boats
  • Jet Drive Boats
  • Bass Boats
  • Personal Watercraft 
  • Pontoon vessels
  • Deck boats
  • Aluminum jet drive vessels
  • Antique boats
  • Trawlers
  • Express and cabin cruisers
  • Sailboats
  • Multi-hull sail

Policies generally include:

  • Navigational Area - Know where you are covered in the water. The insurance companies that we represent can provide policies to cover various locations. The inland lakes and interior waters of Ontario, coastal waters of Canada, the U.S. coastline and even Blue Water / Off-Shore Navigation for boaters traveling to Mexico, Caribbean etc. Let us find the right rate and boat coverage for your needs.
  • Agreed Value Coverage For Newer Boats - Watercrafts depreciate just like automobiles. Actual cash value policies can make it difficult to replace a boat that’s been stolen or destroyed. This means that if your boat is a total loss you will get the value you insured it for, minus any deductible.
  • Liability – Protection & Indemnity Marine Liability. Similar to auto insurance, liability coverage provides coverage in the event you are at-fault for an accident on the water. This coverage can help to pay to repair or replace the property of someone else as well as for their medical care, loss of income and other costs incurred as a result of a boating accident for which you are at-fault.
  • Medical Payments - Medical payments coverage will pay for the cost of needed care that is the result of a boating accident. A typical limit is $5,000 and covers you, your passengers, and even your water skiers/tubers, regardless of who is at-fault.
  • Physical Damage Coverage - Physical damage coverage pays for the cost to repair or replace your watercraft, its motor, any permanently attached equipment and your trailer, if it is stolen or damaged.
  • Uninsured/Underinsured Watercraft Bodily Injury - Since boat insurance is not always mandatory, many boaters choose not to get insurance. If you are hit by an uninsured or underinsured boater and are injured, this coverage pays for medical treatment, lost wages, and other costs associated with the accident.
  • Pollution / Spill Liability and Wreckage Removal - Should your boat sink or be seriously damaged, there is a chance that it could leak oil or fuel into the water. As the boat's owner you are legally responsible to have this cleaned up, which can be very expensive.
  • Personal Effects - Your boat insurance policy can provide coverage for many personal effects, including foul weather gear, sleeping bags, bedding, contents of a galley, sporting equipment but not including diving equipment, and fishing equipment.
  • Unattached Equipment - This pays to repair or replace equipment that isn’t permanently attached to your boat or personal watercraft, but is designed for use primarily on a boat. This includes items like lifesaving equipment, water skis, anchors, oars, fire extinguishers, tarps, etc.
  • Emergency Towing- The Emergency Towing provides coverage for the cost of towing the vessel to the nearest repair facility.

Do You Know What The Top 6 Boat Insurance Claims Are?

  • Hitting an underwater object
  • Collision with another boat
  • Storm damage - wind, lightning
  • Theft in general, afloat or in storage.
  • Vandalism: break and enter, theft of personal effects
  • Theft of dinghy & outboard engine

Helpful Boat Insurance Links

Canadian Coast Guard
Sail Canada
Canadian Power and Sail Squadron
Boating Equipment and Supplies
Transport Canada
Pleasure Craft Operator's Card


Approved Surveyors

L.D. Dermody Insurance does not necessarily recommend the services of any of these surveyors and lists them here solely for your convenience.

  • Consecon - Raymond Toth - 613-921-8331 - askasurveyor@swiftsuremarinesurveyors.com
  • Brockville - Garry Kelsey - Kelsey's Marine Surveying - 613-498-1648 - kelseys.marine.surveying@sympatico.ca
  • Barrie – Michael B. Downer – Marine Insurance Services – 705-728-7437 – downer@marineinsuranceservices.com
  • Caledon - Brian Baxter - Baxter Marine Services Inc.- 519-941-6323 - info@baxter-marine-services.com
  • Cobourg - Ian M. White - M. White, SA - Marine Surveyor - 613-483-0393 - ianmwhite@bell.net
  • Erieau - Craig D. Morley - AquaFacts Marine Surveyors - 519-768-3438 - aquafacts@gmail.com
  • Grand Bend - Murray Willits - Murray's Marine Surveying & Consulting - 519-670-9183 - mwillic397@rogers.com
  • Kemptville - Stephen W. Leake - SWL Consultants - 613-258-9953 - swlcons@earthlink.net
  • Kingston – Ian Cambell – Campbell Marine Surveys – 613-542-7464
  • London - Murray Willits - Murray's Marine Surveying & Consulting - 519-670-0183 - mwillic397@rogers.com
  • Mississauga - Wallace Gouk - Port Credit Marine Surveys - 416-526-3845 -
  • Mississauga - Dan McDonald - McDonald Marine Surveys Inc.- 416-670-1160 - mcdonaldsurveys@sympatico.ca
  • Niagara-on-the-Lake – John VanderPerk – VanderPerk Marine Services, Inc. – 905-468-2814 – jvanderperk@gmail.com
  • Orillia - David Buchanan - Buchanan Marine Appraisal Services Ltd - .705-327-7870 - d.buchanan@sympatico.ca
  • Oshawa - C. David Sandford - DS Marine Surveys - 905-449-2176 - dsmarine@sympatico.ca
  • Port Perry – Gregory Calvin Parton – Marine Associates of Port Perry Inc. – 905-571-6885 – Marineassociates@rogers.com
  • Port Stanley - Craig D. Morley - AquaFacts Marine Surveyors - 519-768-3438 - aquafacts@gmail.com
  • Rosseau – George Bridle – Bluewater Marine Surveying – 705-938-0288 – george@bluewatermarinesurveys.ca
  • St. Catherines – Peter Bennett – 905-687-1918 – Bennett Marine Survey -  pejabe@gmail.com
  • Toronto – Adam Bishop – 416-346-5003 – Bishop Marine Service Ltd. – info@bishopmarinesurvey.com
  • Toronto - Peter H. McGuire - Fastnet Yacht Surveys Ltd - 416-809-2186 - mcguirepeter@rogers.com
  • Windsor – Terry Scott - Lakeshore Marine Services – 519-562-3600
L.D. Dermody Insurance Brokers (1982) Inc.