Protect Your Marina from Incidents, Accidents & Elements
A marina is a manmade wonder that faces exposures from virtually every direction. While individual boat owners gain peace of mind with boat insurance, marina and boatyard owners require several different types of insurance in order to be fully protected.
Commercial Package Policy
Marina, harbor, or boatyard insurance starts with a Commercial Package Policy, which usually involves:
- A traditional commercial property policy covering the building, contents and loss of business income from fire, wind, explosion, vandalism, etc.
- An inland marine floater to cover mobile property such as travel lifts, fork lifts, compressors and portable tools
- General liability coverage
- Employee dishonesty coverage to protect the owner from the loss of property or money if an employee steals from them
Insurance companies will often bundle a series of inexpensive additional coverage for a flat fee rather than pricing each type of coverage individually. These enhancements might include fine arts, outdoor property, computers, personal property of others, coverage for cash, mobile equipment, property in transit, sewer backup, spoilage, lock replacement and a variety of other losses.
Other Types of Marina Insurance
You will likely need separate coverage for:
- Owned boats or barges used as work or tow vessels
- Vessel hulls themselves
- Any borrowed, hired or non-owned vessels or barges
- Docks, piers, pilings and bulkheads
- Employees (workers compensation and employment practices liability insurance)
- Commercial automobiles and trailers used to move boats, pick up supplies, etc. (commercial auto insurance)
- Non-owned or borrowed autos
- Flooding (flood insurance)
Any marina that wants to secure higher limits of insurance (usually more than $1,000,000) should consider purchasing an umbrella liability policy or the broader Bumbershoot liability policy. These policies offer broader protection against lawsuits.
Finding the Right Insurance Package for Your Property
Anderson Insurance Agency has been insuring marinas and boatyards since 1967. We represent some of the most respected insurance providers in the world, combining our personal connection to coastal New Jersey with our decades of expertise to create a comprehensive insurance package that you can feel confident in. Let us help secure the protection you need for your marina.