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TAG | marine insurance

Boardwalk Insurance Group Protects Your Boat 4.50/5 (90.00%) 6 votes

Whether you own a small sailboat, a pleasure yacht, a fishing fleet, or Panamax cargo ships, marine insurance is extremely necessary to protect your craft, and potentially your business.  Just like the boats and ships on the water, marine insurance comes in many shapes and sizes and can be customized to fit just about any waterborne craft.

Personal boat insurance is going to be the most basic marine insurance policy and could be required if you take out a loan to purchase the boat.  Boat insurance can cover anything from a small jet ski up to a large luxury yacht.  The exact scope and amount of coverage depends on the owner of the craft and what they want to insure.  For something as simple as a jet ski, there generally is not much property to insure, so other than liability coverage for the operator and the jet ski itself, the marine insurance policy is quite simple.  For something larger, even a small motorboat, generally there are small electronics used for navigation and sometimes personal property, such as fishing poles, so the marine insurance policy would need riders to cover that.  On luxury craft, everything from the galley appliances to the artwork in the cabins can be covered, so comprehensive marine insurance can be written.  Boat insurance generally covers fires, sinking, fuel spills, and grounding, and dock liability riders can be added for extra protection from liability and damage done at a dock or marina.

Marine insurance for ships of commerce can get more complicated.  Anything from a small motorboat used for fishing tours to the latest super tankers can be covered under commercial marine insurance.  The difference is that commercial ships have certain extras that need coverage that personal craft do not.  Commercial marine insurance needs to address cargo and crew coverage in addition to hull coverage.  Damaged cargo is probably one of the most frequent liability situations faced by ship owners.  Marine insurance policies can provide coverage toward the value of the goods damaged in shipment.  Similar to personal marine insurance policies, commercial marine insurance policies provide coverage from much of the same hazards on the water, including fires, sinking, fuel spills, and grounding.  Commercial marine insurance can help offset the cost of salvaging the boat or ship in the event something renders it inoperable.

Marine insurance is important for anyone who owns and operates a boat or ship.  There are many hazards on the water and even a small error can have severe consequences.  Marine insurance affords boat and ship owners peace of mind and keeps them from being left on the hook for a large bill if unfortunate events occur.  Shopping for marine insurance and finding the best insurance policy for your boat or ship can be a hassle, but using an independent insurance agent can save you time and money.  Independent insurance agents are partnered with many insurance providers and can do the hard work for you while finding the best marine insurance policy for your boat or ship.


Boardwalk Insurance Group has Marine Insurance 4.20/5 (84.00%) 5 votes

Owning a boat or ship opens you up to a lot of potential hazards while on the water.  Whether your water craft is for personal pleasure or commercial business, marine insurance or boat insurance can protect you while on the water.

Marine insurance can cover a wide range of aspects concerning marine operations and boat ownership.  The simplest marine insurance policies cover against damage or the loss of the boat or ship; however more comprehensive marine insurance policies can cover damage and liability to third parties and their property.  Marine insurance is also typically required on the boat or ship when taking out a loan to purchase the boat.  Boat insurance can cover a wide variety of crafts, from jet skis to luxury yachts to commercial vessels.

For personal craft, once a boat is paid for and marine insurance is no longer required, liability coverage is still recommended.  Liability coverage on boat insurance protects you if a third party is injured or their property is damaged, and it still covers damage to your boat or ship.  Personal marine insurance can be customized to cover salvage operations, including fire, sinking, fuel spills, and running aground.  Dock liability coverage can also be added to a marine insurance policy, protecting yourself from damage done to a marina or dock where your boat is docked.

Commercial marine insurance also has provisions to protect cargo in addition to many of the same protections in personal boat insurance.  Water transportation has some of the most unpredictable hazards, and even those that can be predicted are hard to avoid.  Pitching and rolling of ships can damage cargo as it rolls around inside the hold of the ship itself, despite the best packing by the company that packed the contents.  Commercial marine insurance protects the owner of the ship from having to cover the cost of the damages.  In addition, commercial marine insurance needs more provisions for employees, as well as third parties, since contractors are used on some larger vessels to have a full crew.  Also, since commercial vessels are generally larger that personal vessels, commercial marine insurance can cover larger ships than personal boat insurance.

Marine insurance can be very strict, with policies spelling out every minute detail and can be void if the details of the insurance policy are not regarded.  Finding the best personal boat insurance quotes or getting business insurance quotes for a commercial marine insurance policy can therefore be very time consuming and if the details are not checked and double checked, a missed item could be potentially disastrous.  An independent insurance agency can help out, since most have the ability to write policies for many different insurance providers.


Marine Insurance for Any Watercraft 3.67/5 (73.33%) 3 votes

The ocean can be a hazardous place, with potential problems lurking at every turn.  Storms, rough waves, underwater hazards, and others can pose problems for maritime transport.  To help reduce the financial risk of companies in related marine industries, marine insurance policies can be created. Marine insurance commonly covers the loss or damage of ships, cargo, and ship terminals.

Since there are both commercial and personal aspects to marine insurance, the types of policies and coverage can vary widely.  Commercial marine insurance can include cargo insurance, hull insurance, liability insurance, and freight insurance.  Cargo insurance covers the cargo onboard the ship, as well as the belongings of the people on the ship.  Hull insurance protects the costs of repair to the hull of the ship in case of damage, as well as much of the equipment and furniture on the ship that is not cargo.  Marine liability insurance provides compensation if a ship crashes or collides.  Freight insurance protects merchant vessel corporations from financial responsibility in the event of lost cargo from one of their ships.  These commercial marine insurance policies can be broken down or have variants to allow for merchants the flexibility to create a marine insurance policy that fits the needs of their business.

For more personal marine insurance policies, coverage like cargo and freight insurance is not needed.  However since boats and yachts can be significant investments, boat insurance is necessary to protect the owner from financial responsibility in case of an unforeseen event.  Additionally, many states require boat insurance, just as most states require auto insurance to protect the monetary damages motorists can inflict on each other.  Boat insurance is actually available as a form of marine insurance, or as an additional coverage on a homeowners’ insurance policy.  Water craft liability insurance is the most basic form of personal marine insurance available.  Water craft liability insurance covers damage to people or property due to actions on the boat, whether it is in the water or being towed to or from the water.  Sometimes added to personal boat insurance is a medical payment insurance that covers medical expenses of the operator and passengers in the boat if they injured in an accident covered by the liability marine insurance.  Wreck removal and pollution coverage is another recommended marine insurance addition to the standard boat insurance.  After a boat is wrecked, removal is required in a timely manner.  Depending on the damage to the boat and whether it has sank or not, this can be a costly undertaking, especially since the turnaround for removal must be expedient.  Also, if any gasoline or oil leaks, the owner of the boat will be fined for the pollution to cover the cleanup costs.  Wreck removal and pollution marine insurance coverage ensures these costly bills are not solely covered by the owner of the boat.

Similar to cars, many boating accidents take place within a short distance of the home port, so marine contractors’ insurance can be helpful coverage.  Marine contractors’ insurance covers workers in the port or marina where the boat or ship is docked, sheltering the owner from costs if a dock contract worker is injured while attending to their craft.

Marine insurance can protect one of the most significant investments people make outside of their home.  While the insurance coverage varies depending on the type of boat or ship and the purpose, the insurance can more than pay for itself in the event of an unforeseen accident.

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Marine Liability Insurance

Marine Liability Insurance 4.33/5 (86.67%) 3 votes

Among some of our specialties is marine liability and general marine insurance.  From shipbuilders to diving companies to your personal watercraft (jet skis, hovercraft, yachts, houseboats, speedboats and more), Boardwalk Insurance Group can cover you with reputable insurance companies and fantastic rates.

Our goal is to adequately protect the most valuable assets in your life, home or business.  We do this in a professional and courteous manner and welcome you to experience the Boardwalk difference.

If you require insurance for anything related to water, give us a call and let us provide you with a free, non-obligatory quote.  No matter how large or small the policy may be, we are here for you.

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