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Now that beautiful summer weather is returning to Edmonton, those of us who love the outdoors are probably thinking of ways to get out and enjoy the natural splendour that Canada has to offer. One of the most popular ways to do so is to cruise around our lakes, rivers and oceans in your own recreational boat or other type of watercraft. Whether you enjoy fishing, waterskiing or just being out on the open water, boats are a great way for everyone in your family to get the most out of summer.

Boating is a lot of fun but with that fun comes certain risks. Getting boat insurance is a great way to enjoy your boat while still having the peace of mind that you’ll be covered if accidents occur. At MBS Insurance Brokers Ltd. in Edmonton, we want everyone to know that safely enjoying boating in Alberta is within your reach, provided you’re prepared.

Do I have to get boat insurance?
If you’re thinking about purchasing a boat, there are a few things you need to know. For example, to legally operate any boat with a motor or motors with 10hp or more, you must have a pleasure craft license (they’re not necessary, however, for sailboats). Similarly, all pleasure boats should be licensed by the Canadian government before they’re used.

Although insurance is not always mandatory in Canada, it’s usually a good idea. As any experienced outdoorsperson knows, boats are great, but they’re also dangerous in certain circumstances. In the insurance business, we know that when there are risks, there is also liability. If an accident does occur to you, a family member or a friend, you want to be sure that you’re covered and can take care of any damages.

Are there different kinds of boat insurance are available?
Everyone’s situation is a little bit different and our experts at MBS Insurance Brokers are happy to help you find the insurance policy that is right for you. In general, boat insurance typically covers liability and physical damages to your boat. Depending on if you have a yacht, sailboat or other type of watercraft, further options are also available.

Where can I get boat insurance?
At MBS Insurance Brokers Ltd., we can give you the personalized service you need to get the best deals on insurance possible. More often than not, boat insurance can simply be added to your existing insurance plan. If you’re interested in getting out on the waters of Canada without having to worry about what will happen if something goes wrong, contact us today at our Edmonton offices to get started with a competitive quote.

How an Insurance Broker Saves You Time and Money

Do you know the benefits of an insurance broker?

Suppose you’re looking for the best insurance coverage at the best rates in Edmonton. In that case, you’ll first want to understand the benefits of an insurance broker and how they can help protect you in all sorts of different situations – whether it be saving you money, time or giving you simple peace of mind.

What Are the Benefits of an Insurance Broker?

Here are some of the many benefits of an insurance broker.


1. Saves Time

An insurance broker does all the work for you, so you don’t have to spend your valuable time shopping around for insurance. Instead, you simply provide your broker with information about your needs, and they shop the markets on your behalf.


2. Saves Money

Insurance brokers work with many different partners to find the best deals on the insurance that works for you. They take all your needs into account and make recommendations that are in your best interest. They have relationships with many insurance partners and can negotiate competitive rates and discounts, saving you money in the long run.

3. Expert Knowledge and Advice

An insurance broker provides you with the support and expertise you need to find coverage that suits your needs. They work with various products and services to find the coverage that best suits you. In addition, they can draw from an extensive knowledge base and experience to advise you on the best options. 

Insurance Brokers provide expert and unbiased advice. A wealth of knowledge about coverage and market rates combined with expert risk assessment ensures your possessions and business are adequately protected. Whether you are looking into auto insurance rates, tenant insurance, or home insurance rates, your insurance broker can help you every step of the way.

You can utilize their expertise to quickly identify your options and rely on their unbiased advice to help you make the best-informed decision for your situation.


4. Working For Your Best Interests

Since insurance brokers do not work with one particular company, they have nothing to gain from recommending a specific product. The insurance company also pays them a standard commission. Thus, there is no financial incentive to choose one insurer over another.

Insurance brokers have your best interests in mind. You can count on them to find you the best rate possible, which can give you the peace of mind you need. You can rest assured knowing that if you ever need to file a claim, one of our brokers will be there by your side to guide you every step of the way. They act as an advisor on insurance-related matters. They will shop the market for the best coverage and rates for you. Since fulfilling your needs is their only priority, they will provide independent, unbiased advice on the right coverage for your situation.

5. Privileged access and rates

Insurance Brokers have access to a wide selection of the best insurance companies in the country. These insurance companies are only accessible by Insurance Brokers. They do not deal with the public directly or with Direct Writers. Brokers enjoy long-standing relationships with these insurance companies. Still, they do not have an affiliation with any specific insurer, enabling brokers to provide you with a broader range of options at competitive rates.


6. Transparency

Insurance brokers must give full disclosure about their compensation and its effect on your insurance premium.  They are also required to declare any financial links with specific companies that may be a conflict of interest, enabling you to make the best-informed decision.


7. Risk and Advocacy Experience

Extensive experience dealing with different clients and claim situations equips insurance brokers with a broader perspective on how to reduce your risk. Also, in the event of a claim, you can count on your broker to act as your advocate with the insurance company and handle your claim fairly and promptly.

Speak to MBS Insurance in Edmonton about your Coverage

Reach out to MBS Insurance today to determine your home, auto, and commercial coverage options. Over the past 45 years, our experienced team of insurance brokers in Edmonton has earned the trust and loyalty of our clients by delivering superior products and services. We understand your needs and provide you with the best protection and rates.

There are many benefits of an insurance broker. We can help you understand the intricacies of your insurance plan while saving you money at the same time. We are a trusted insurance provider in Edmonton and provide personal and commercial insurance policies to people living in Alberta. We offer the best rates on recreational, auto, property, commercial, and group insurance policies. 

Contact us online for a free quote or by phone at 780-436-7880.

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This article was originally published on October 7, 2016, and updated for 2021.