Financing Your Boat
Pleasure Craft Licensing
A pleasure craft licence is the number placed on the sides of each recreational vessel as required under the Small Vessel Regulations of the Canada Shipping Act. All recreational vessels under 15 gross tons (12 metres or less) and powered by an engine 10 horsepower (7.5 kilowatts) or more must be licensed or registered, regardless of where they operate in Canada. The licence number is used to assist law enforcement in identifying each individual pleasure craft. The system also allows Search and Rescue personnel to access the information 24 hours a day, 7 days a week in the event of an emergency.
It’s very easy to get your pleasure craft licence for your boat. Simply use this link and follow the instructions to submit your application online.
Boat insurance varies by boat length and type, by the cost of the boat and the level of coverage you want. Consult your insurance agent for quotes or compare rates online. Some smaller boats can be insured for a nominal sum as a rider on a homeowner's policy.
You can reduce the cost of marine insurance premiums by taking a boater's education course.