Every marina is unique. But one thing they all have in common is the need for the right insurance in case the unexpected happens. You’ll have greater peace of mind knowing your business is protected from the special risks that aren’t concerns for land-based organizations.

Marina Coverage Needs to Be Tailored to Your Facility

The first thing to consider when selecting marina insurance is the type of organization you own or manage. Marina coverage can apply to a range of facilities, such as:

• Mooring and slip rental
• Wet and dry storage
• Boat rental operations
• Yacht clubs
• Boat dealers and sales
• Sailing schools
• Boat builders and repairers

Think of marina insurance like a buffet. You want to bring together multiple components under one policy to cover all the needs specific to your business or club.

For example, your yacht club might hold summer regattas, which require event liability coverage. You may need property insurance for boats you rent or protection for your piers and docks.

Some common elements of marina insurance also include:

• Structure insurance for buildings
• Routine liability coverage for accidents on the property
• Title errors and omissions insurance
• Debris removal and coverage for accidental pollution
• Ensuing loss for protection against normally excluded loss

Add Coverage for Your Special Needs

Depending on your business model, you can enhance your protection with policies for things like liquor liability, equipment breakdown, and truth in lending.

You may also need workers' compensation for employees or cyber insurance if you do business online. Do you operate a motor vehicle for your marina for towing or picking up supplies? That requires a commercial auto policy.

Bumbershoot is similar to umbrella insurance for marine claims like cargo damage, collisions, or salvage. These typically exceed the cap on your regular marine coverage. Bumbershoot insurance picks up where the cap leaves off, so you’re not left paying out of pocket for large expenses should the worst happen.

Find an Insurance Agent Who Understands Marina Operation and Risks

Finally, it’s essential to partner with the right insurance agent. You need an agency that has its own marine division and can put together a comprehensive policy for you. And you want an agent who can ask the right questions to ensure you aren’t leaving any areas of business vulnerable.

At Davidson & Associates Insurance, our independent agents in the Marine Division are specialists who you can call on for expert advice. And you enjoy personalized service like a private client. Call us today at 360-514-9550 to learn more, or start your policy online anytime.