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Marina Insurance

Operating a marina can be an exciting and rewarding business, but it also comes with its own unique set of risks and liabilities. From damage to boats and equipment to accidents on the water, there are many potential exposures that marina owners must be prepared for. 

That’s where marina insurance comes in – it provides financial protection against these risks and ensures that your business and your customers are protected.

Who Needs Marina Insurance?

If you own or operate a marina, you need marina insurance – as simple as that. This includes commercial marinas, yacht clubs, boat dealerships, and other businesses that provide services to boaters.

Types of Insurance Needed by Marina Owners

There are several types of insurance that marina owners should consider:

1. General Liability Insurance – This covers your business against claims of bodily injury or property damage that may occur during the course of your operations. For example, if a customer slips and falls on your dock, this coverage will protect you from any associated costs.

2. Property Insurance – This covers your marina facilities and equipment against damage or loss due to fire, burglary, or other dangerous circumstances.

3. Watercraft Liability Insurance – This covers your business against claims arising from accidents or incidents that occur on or around the water.

4. Pollution Liability Insurance – This covers your business against claims arising from pollution or environmental damage caused by your operations.

5. Business Interruption Insurance – This covers your business against losses due to business interruptions caused by unforeseen events such as natural disasters, power outages, or other disruptions.

How Much Does Marina Insurance Cost?

The cost of marina insurance varies depending on several factors, such as the size of your business, the types of services you provide, and the number of boats you have. 

Marina Risks & Exposures

Marina owners face a variety of risks and exposures, such as:

  • Damage to boats and equipment – Boats and equipment may be damaged due to natural disasters, accidents, or other events.
  • Liability claims – Accidents on the water can lead to costly legal claims and lawsuits.
  • Pollution and environmental damage – Marina operations can have a significant environmental impact, leading to costly claims and cleanup costs.
  • Business interruption – Events like natural disasters or power outages may cause you to shut down temporarily, leading to lost income.

Commercial Insurance And Business Industry Classification

  • SIC CODE: 4493 Marinas
  • NAICS CODE: 713930 Marinas
  • Suggested Workers Compensation Code(s): 6836 Marina & Drivers – Coverage Under State Act Only, 6826F

Marina Insurance – The Bottom Line

Marina insurance is essential for protecting your business and your customers. It provides financial protection against potential risks and liabilities, ensuring that you can continue operating your marina without worrying about unexpected costs. 

By investing in the right coverage, you can focus on providing excellent service to your customers while having peace of mind that your business is protected. So if you own or operate a marina, make sure you have the appropriate insurance coverage in place to safeguard your business and your customers.

However, it may be difficult and time-consuming for you to browse all the available policies and compare them. Our professional agents are willing to help you with that and advise you on choosing the best marina insurance for your business. Contact us today!

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