Security Through Insurance; For Marina Owners and Boat Dealers

Recently, I had a conversation with a new marina owner who was eager to grow the business he just purchased. He has big plans to expand his rental fleet, renovate the tiki bar, and start an ASA sailing school. Very exciting and I cant wait to go see it! However, he was less enthusiastic about dealing with the complexities of the insurance he would need to protect his business.

If you're a marina owner, you're likely facing challenges and risks that go beyond what you might have expected. From protecting the boats in your care to managing the liabilities that come with growing your business, having the right marine insurance is critical to safeguarding your operations.

Key Coverages for Marina Owners:

• Marina Operators Liability: This essential coverage protects your marina from liabilities related to non-owned boats, whether they’re docked, stored, under repair, or launched. Without this coverage, you could be on the hook for costly claims if any damage occurs to boats in your care.
• Boat Dealers Coverage: If you’re in the business of selling boats, this coverage protects your inventory—whether it’s at a boat show, in transit, or out for a test run. It ensures that a single incident doesn’t result in a significant financial setback.

Additional Coverage Options:

• Bumbershoot (Marine Umbrella) Coverage: This provides excess liability protection that goes beyond your standard policies, offering overarching coverage for both marine and non-marine liabilities. It’s an extra layer of security for when major incidents occur.
• Liquor Liability: If your marina has a tiki bar or restaurant, liquor liability is crucial. This coverage protects you from claims related to alcohol-related incidents, ensuring you’re covered if an issue arises.
• Cyber Liability: With more businesses relying on technology for bookings, payments, and customer data, cyber liability coverage is essential. It protects your marina from the increasing threat of data breaches, cyber-attacks, and the resulting financial losses or reputational damage.
• Workers’ Compensation: Protecting your employees is just as important as protecting your business. Workers’ comp ensures that if an employee gets injured on the job—whether it’s at the dock, in the shop, or in your office—you’re covered for medical expenses and lost wages, preventing costly legal battles.

Comprehensive Coverage for Peace of Mind:

Beyond the basics, we offer:

• Boat Brokers Liability: Coverage that insures brokered boats during the sales process.
• Broad Contractual Liability: Guards against risks associated with contracts, ensuring you’re not caught off-guard.
• Protection & Indemnity (P&I): Insurance for bodily injury or property damage caused by non-owned watercraft in your marina.
• Pollution Coverage: Sudden and accidental pollution hazards can occur, and this coverage ensures you’re protected from environmental claims.

As your marina grows, so do the potential risks. It's essential to have a tailored insurance plan that not only covers the basics but also addresses these specialized needs. Whether you're expanding your fleet, offering boat sales, running a restaurant, or upgrading your facilities, the right insurance will give you the peace of mind to focus on what matters—building your business.

Let’s talk about how we can create a custom insurance solution for your marina. With my expertise in marine risk management, I’ll ensure your business is fully protected, allowing you to concentrate on what you do best.

Reach out today, and we’ll secure the future of your marina together.

Let’s talk about securing the future of your marina.

Insurance Strategies Every Marina Owner Needs