Marinas—places where boat owners keep their vessels moored—are usually fun and welcoming places. The cry of seagulls can be heard overhead, while tied-off sails flutter in the ocean breeze. But although marinas are beautiful, they can also be somewhat dangerous. That’s why marina owners need marina insurance.
What it Covers
Marina insurance is designed to protect marina owners from liability. This usually includes coverage for things such as fire, wind damage, theft, and other basic damages. Unique provisions can be added or removed from your policy in order to meet your own particular set of needs. For example, if there is a lot of loading and unloading of cargo in your marina, clauses can be added to your policy that offer additional cargo protection.
Why You Need It
If you are operating a marina and do not have marina insurance, you can be held liable for hundreds of thousands—or even millions—of dollars in damages. Even if you’re not running a marina that hosts a lot of luxury yachts, boats of all sizes are expensive. This insurance product is a must-have in order to protect oneself from damages.
Marina insurance is for marina owners and operators only; boat captains will require an individual insurance policy to cover their own potential losses.