As a marina owner, you want to protect yourself from unexpected costs. There are many potential liabilities for your marina to watch out for.
Vandalism might damage the boat and yachts under your care, custody, and control. You might also shoulder the burden of oil spill incidents caused by someone detailing boats on your business premises. Of course, insurance isn’t only a protection but a contract requirement. Boat rental businesses might request minimum liability coverage before hiring your space.
This article will cover the best policies you will want so you can build a marina insurance policy that can protect your business when it counts.
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $2,000,000 | $1,000,000/$2,000,000 |
| Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 | $2,000,000 | $1,000,000/$2,000,000 |
| Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $2,000,000 | $1,000,000 | $1,000,000 |
| Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $2,000,000 | $1,000,000 | $1,000,000 |
| Tenant’s legal liability coverage limit | $300,000/$1,000,000 | $300,000 | $100,000 | $100,000 | $1,000,000 |
| Waiver of subrogation included? | Yes | No | Included | Can be included | No |
| Hired/non-owned auto liability coverage included? | Yes | No | No | Can be included | Can be included |
| Equipment breakdown floater included? | No | Yes | Yes | Can be included | Can be included |
| Can you get a certificate of insurance online? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Deductible | $0 | $0 | $0 | $0 | $0 |
Marina insurance policies use general liability coverage to protect your business against liability from customers and members of the public. This policy will protect you against bodily injury claims and property damage claims alleged to happen due to your business operations or services.
Your marina liability insurance can be further customized through policy add-ons. See a few options below.
Tools and equipment insurance–Helps cover the tools and equipment you use in your marina to keep boats safe
Employment practices coverage–Protects your marina business from damaging employee claims of wrongful termination, discrimination, and workplace harassment
Excess liability–Extends the coverage limits of your existing general liability policy
Marina operators legal liability insurance–This reimburses third parties whose boat or yacht got damaged or destroyed while in your care, custody, and control
Marina insurance carriers will offer general liability policies having $1 million-$2 million in coverage.
Pollution liability insurance will protect your marina business from the costs related to unexpected pollution spills, land restoration, cleanup, and injuries to other people. This marina operators liability insurance can be purchased as an add-on to a general liability policy.
Your pollution liability policy will have limits of up to $25 million. Higher limits are available for this type of marina operator's liability insurance, depending on the insurer.
Garage keeper’s liability is a policy that protects your company against damage to vessels in your marina's care and custody. The policy can also protect you against legal liability expenses that arise from a customer's claim about their vehicle.
This type of marina insurance coverage provides a $2,500-$10,000 minimum per occurrence and aggregate limit.
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| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Building coverage limit (minimum) | $50,000 | $260,000 | $25,000/$500,000 | $25,000 | $60,000 |
| Contents coverage limit (minimum) | $50,000 | $22,000 | $25,000/$500,000 | $25,000 | $60,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Excluded | Excluded |
| Accounts receivable | Excluded | Excluded | $5,000/10,000 | Included | Excluded |
| Money and securities | Excluded | $2,500 | $1,000 | Included | Excluded |
| Lock and keys | Excluded | $2,500 | Excluded | Excluded | Excluded |
| Business interruption floater | Excluded | Included | Included | Included | Excluded |
| Equipment breakdown floater | Excluded | Included | Excluded | Excluded | Excluded |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Included | Excluded |
Commercial property insurance for marinas will protect your business premises and related business property from physical damage like extreme weather, fires, theft, and vandalism.
Flood coverage–Protects your marina from the cost of damages from flooding that may be excluded in a typical commercial property policy
Pollutant cleanup–Helps your marina business clean up spills from hazardous chemicals from boats and other sources
This type of marina operators insurance will have a coverage limit of $50,000 for your business building and $50,000 for personal business property.
Yes. Marina insurance programs will favor businesses that teach job safety regularly and keep records of times you have had employees undergo safety training. Your insurance premium will depend on the risk of your business, and businesses with safety programs are safer workplaces because these programs can help them cut back on injuries and other harmful incidents.
| CoverWallet | Thimble (Best) | NEXT | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| General liability aggregate limit | $2,000,000 | $2,000,000 | $2,000,000 | $300,000 | $1,000,000/$2,000,000 |
| Commercial property coverage limit | $50,000 | $500,000 | $260,000 | $25,000 | $75,000 |
| Optional policies can be added? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds for free? | Yes | Yes | Yes | Yes | Yes |
| BOP discount? | Yes | Yes | Yes | Yes | Yes |
You can use a business owner’s policy to get the coverage of multiple policies in one convenient insurance policy. Business owner’s policy adds the protections of general liability and commercial property insurance. It will also include business interruption coverage.
Commercial crime–This policy will protect your marina business from crimes your employees may commit, like theft, forgery, and more.
Cyber liability–Provides financial payouts to your marina when data breaches or cyber-attacks cause you extra expenses.
Marina insurance companies design a BOP to offer $300,000-$2 million general liability coverage and $25,000-$60,000 commercial property coverage.
| NEXT | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|
| Aggregate limit | $3,000/$10,000 | $2,500/$5,000 | $15,000/$25,000 | $5,000-$10,000 |
| Covers hired and borrowed equipment? | $3,000/$10,000 | $2,500/$5,000 | No | Yes |
| Miscellaneous equipment also covered? | $5,000/$10,000 | No | Yes | Yes |
| Offered as an endorsement to general liability insurance? | Yes | Yes | Yes | Yes |
| Deductible | $500 | $500 | $0 | $0 |
A tools and equipment policy protects your marina's equipment from damage. You get protection from theft, vandalism, fire, and other covered perils, even when tools are used outside your business premises.
Flood and water damage coverage–Allows protection for flood damage at your marina for your covered tools and equipment
Equipment breakdown–Protects your business tools and equipment during electrical shorts and motor failure
Tools and equipment insurance will have average coverage limits between $5,000 and $20,000.
A commercial auto insurance policy will protect automobiles and similar vehicles you use in your marina. Your marina insurance commercial auto policy will typically always have standard components by default. These components can include:
Collision–Covers damages resulting from collisions
Comprehensive–This policy will help you pay for physical damage to your vehicle from other sources besides road collisions
Auto-liability–This offers liability protection for events where you are liable for damage or bodily injuries your commercial vehicles may cause
Roadside assistance–Acts as your lifeline for when a covered vehicle gets stuck on the side of the road and needs to be towed or other similar services
Rental reimbursement–Provides payouts to help you pay for using a rental vehicle when your original vehicle is repaired or replaced
Your commercial auto insurance will have a liability coverage limit between $100,000 and $1 million. Ask your insurer if higher limits are available.
Workers' compensation insurance is an essential policy for marinas with employees. Most states will require that you purchase this coverage to protect employees. This policy pays your marina employees when hurt, injured, sick, or lose their lives while performing regular business duties.
Yes. Generally, workers must miss work for several days due to an injury before the benefits are dispersed.
An employee covered under workers comp will not need to file a disability insurance claim. Workers' compensation will cover lost income and medical costs resulting from the injury, so your worker shouldn't need to add another claim to their claim history.
| Cost per Month | Cost per Year | Deductible | |
|---|---|---|---|
| General liability insurance | $50 | $600 | $0-$500 |
| Professional liability insurance | $53 | $636 | $500-$1,000 |
| Commercial property insurance | $71 | $852 | $1,000-$2,000 |
| Business owner's policy | $100 | $1,200 | $1,500 |
| Tools and equipment insurance | $56 | $672 | $500-$1,000 |
| Commercial auto insurance | $62 | $744 | $500-$1,000 |
| Workers compensation insurance | $105 | $1,260 | $2,500-$5,000 |
General liability insurance is $50 per month or $600 per year for a $1 million worth of coverage. Factors that affect the cost of premiums are claims history, business history, policy limits, deductibles, and number of employees. Here’s a table showing the cost of a $1 million general liability policy from the best marina operator insurance companies:
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| NEXT | $23 | $276 | Best overall; Fastest general liability insurance for marinas |
| The Hartford | $25 | $300 | Workers compensation insurance for marinas |
| CoverWallet | $30 | $360 | Comparing marina insurance quotes online |
| Tivly | $34 | $408 | Comparing marina insurance quotes over the phone |
| Thimble | $39 | $468 | On-demand coverage for marinas |
| Hiscox | $42 | $504 | Worldwide coverage for marinas |
Get all the best quotes from leading providers in a click of a button!
Here are the best marina insurance companies. Read the reviews below to know their pros, cons, and average rate for a $1 million general liability policy:
Best overall
Issues an online proof of insurance instantly
Fastest general liability insurance for marinas
Great customer service and reputation
Excellent rates
Outstanding value for money
Get a 10% discount if you buy two or more policies
Couldn’t find any
NEXT is one of the best choices for marina insurance because of the number of options offered. One standout option is tools and equipment insurance. NEXT’s tools and equipment insurance protects damaged equipment, stolen tools, borrowed gear, and employee clothing. Next has demonstrated financial security with its A- AM Best rating and an excellent customer satisfaction track record with a B+ from the Better Business Bureau.
Best for: Best overall; Fastest general liability insurance for marinas
Average cost: $23 per month
Our rating: 10/10
Named one of the most ethical companies by Ethisphere
100% rating on the Corporate Equality Index
Over 200 years of experience with building policies
Has served over one million small businesses
Customers report that buying process can take some time
The Hartford is a well-established insurer that writes policies like general liability insurance, professional liability insurance, and workers' compensation that work well for your business’s marine insurance policy. The Hartford has an A- AM Best rating and made over $22 billion in revenue in 2021. Policies you can purchase from this company are general liability, marina operators legal liability coverage, and more.
Best for: Workers compensation insurance for marinas
Average cost: $25 per month
Our rating: 10/10
Compare marina insurance quotes online
Customized policy recommendations
Insurance help section for prospective buyers
Not an insurance company but an insurance broker
CoverWallet is an insurance platform that acts as your digital insurance wallet. You can choose insurance options like general liability, business owner’s policy, and commercial auto insurance. The company lets you compare rates from trusted carriers like Markel, Hiscox, and Progressive. CoverWallet possesses an A+ rating from the Better Business Bureau.
Best for: Comparing marina insurance quotes online
Average cost: $30 per month
Our rating: 10/10
Proprietary marketplace insurance platform
Connects you quickly to insurers
Get customized coverage for your marina business
Have to call to start a quote
Tivly is an insurance marketplace that distinguishes itself with its incredible 200 partners available to offer your critical coverage. The company also boasts a 4-second answer rate and an excellent system that helps you generate multiple quotes simultaneously. Tivly offers necessary policies, like workers comp, general liability, commercial auto, and general liability insurance. Call now to compare quotes over the phone.
Best for: Comparing marina insurance quotes over the phone
Average cost: $34 per month
Our rating: 10/10
Simplified insurance policies eliminate confusion for customers
High rating from Trustpilot
24/7 claim processing
Focuses on short-term coverage, which may not be suitable for your needs
Thimble offers competitive insurance policies at affordable prices that include options like general liability, workers comp, commercial property, cyber insurance, and business equipment insurance. Their business owner’s policy combines business interruption insurance, general liability, and commercial property. You can also get equipment breakdown and hired or non-owned vehicle liability as policy add-ons.
Best for: On-demand coverage for marinas
Average cost: $39 per month
Our rating: 10/10
4.7/5 score from customers surveyed
Excellent standard of customer service with dedicated agents
Reliable coverage that is offered with competitive pricing and backed by a reliable insurer
Doesn’t offer as many convenient tools as some of their competitors
Hiscox is the place to go for small businesses that appreciate a personalized touch to their insurance. Their qualified insurance agents are experienced in many industries. Their agents will help you pick the marina insurance policies that suit your business. With Hiscox, you are always paying for what you need. The company has an A rating from AM Best.
Best for: Worldwide coverage for marinas
Average cost: $42 per month
Our rating: 10/10
1 / 5
Use anyone except Employers. Period. They are non-transparent and shameful. After I complained long enough to warrant a call from a supervisor, the supervisor called back from a PRIVATE NUMBER (no caller ID), left a message that they are not reversing their decision (without any communication with me), and failed to leave a phone number for me to call back. She was hiding! They also fact find via email and phone calls, which is terrific for speed and communication. However, after setting a precedence of email or phone calls, they send time sensitive information via email, without any heads up... they are hoping you miss it and forfeit via expiration. Evil policies. Go elsewhere.
1 / 5
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
1 / 5
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
5 / 5
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
5 / 5
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
Not all those who wander are lost.
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