Marina Insurance: Cost & Quotes From $50/mo

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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.

General Liability Insurance for Marinas 

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.

Add-Ons to General Liability Insurance for Marinas

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

Coverage Limits of General Liability Insurance for Marinas

Marina insurance carriers will offer general liability policies having  $1 million-$2 million in coverage.


Pollution Liability  Insurance for Marinas     

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. 


Coverage Limits of Pollution Liability Insurance for Marinas

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.


Garagekeepers Liability Insurance for Marinas     

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.


Coverage Limits of Garagekeepers Liability Insurance for Marinas

This type of marina insurance coverage provides a $2,500-$10,000 minimum per occurrence and aggregate limit. 

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Commercial Property Insurance for Marinas 

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. 


Add-Ons to Commercial Property Insurance for Marinas

  • 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

Coverage Limits of Commercial Property Insurance for Marinas

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.


Can Teaching Job Safety To My Employees Reduce My Commercial Property Insurance Premiums?

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.




Business Owner’s Policy for Marinas    

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.


Add-Ons to Business Owner’s Policy for Marinas

  • 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.

Coverage Limits of Business Owner’s Policy for Marinas

Marina insurance companies design a BOP to offer $300,000-$2 million general liability coverage and $25,000-$60,000 commercial property coverage. 


Tools and Equipment Insurance for Marinas 

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.


Add-Ons to Tools and Equipment Insurance for Marinas

  • 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

Coverage Limits of Tools and Equipment Insurance for Marinas

Tools and equipment insurance will have average coverage limits between $5,000 and $20,000.


Commercial Auto Insurance for Marinas      

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

Add-Ons to Commercial Auto Insurance for Marinas

  • 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


Coverage Limits of Commercial Auto Insurance for Marinas

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 for Marinas     

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.


Is There a Waiting Period for Workers Compensation Benefits?

Yes. Generally, workers must miss work for several days due to an injury before the benefits are dispersed.


If An Employee Has Disability Insurance and Workers Comp Protection, Which Policy Should Get Priority?

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.

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Marina Insurance Cost

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

Compare Cheap Marina Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Best Marina Insurance Companies

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:


NEXT Marina Insurance

Pros 

  • 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 

Cons 

  • 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 


The Hartford Marina Insurance

Pros 

  • 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

Cons 

  • 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 


CoverWallet Marina Insurance

Pros 

  • Compare marina insurance quotes online 

  • Customized policy recommendations

  • Insurance help section for prospective buyers

Cons 

  • 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 


Tivly Marina Insurance

Pros 

  • Proprietary marketplace insurance platform

  • Connects you quickly to insurers

  • Get customized coverage for your marina business

Cons 

  • 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 


Thimble Marina Insurance

Pros 

  • Simplified insurance policies eliminate confusion for customers

  • High rating from Trustpilot

  • 24/7 claim processing

Cons 

  • 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 


Hiscox Marina Insurance

Pros 

  • 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

Cons 

  • 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

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