Marine Construction Liability Insurance
Our marine construction liability insurance can help protect you from the risks that come with all the moving parts involved in the marine construction industry. If you’re new to marine construction or are established marine contractors, ALIGNED advocates are here to assist you with risk assessment, streamlined coverage recommendations and cost projections your marine insurance needs to bid on marine construction contracts. Because commercial insurance is all we do, we know the risks that come with construction projects with equipment on land and in the water.
Marine Construction Liability Risks
With the construction and maintenance of marine installations such as bulkheads, revetments, docks and harbour projects, losses and legal liability are always just a moment away.
What are the Marine Construction Risks You Need to Protect Your Business From?
A few examples of marine construction risks include:
- Construction boats or vessel scraping the side of a privately-owned boat.
- A bulkhead meant to alleviate erosion on one property intensifies erosion dredging on a neighbouring property because of a miscalculation.
- Unfamiliarity with the soil type in the area leads to the collapse of a road being built over a small waterway.
Why You Need Marine Construction Liability Insurance
Our marine construction liability insurance coverages are customizable to your risks and operational needs. Regarding lawsuits coverage for companies under your policy, marine construction liability insurance can provide you with a broad range of coverage for:
- Lawyer’s fees
- Defence costs
- Out-of-court settlements
- Awards for damages
Bear in mind that, when it comes to marine general liability, even baseless lawsuits require substantial resources to defend against.
What are the Marine Construction Liability Insurance Coverages You Need?
Common marine construction business liability insurance coverage includes:
Protection for construction vessels such as tugs, barges and dredgers as well as legal liability coverage for collisions.
P&I insurance provides coverage for collisions involving vessels and fixed installations that result in property damage, mechanical damage, employees physical damage or death.
Bumbershoot (Umbrella) Liability Insurance
Provides coverage for costs of a claim that exceed an underlying policy’s limits.
Can cover cleanup and litigation costs in case of a spillage accident that results in liability hazards.
Commercial Vehicle/Auto Insurance
Offers a wide range of coverage for your landside construction vehicles.
A wide-ranging policy that can significantly reduce your risk exposure and cover both on-land and in-water marine construction assets including supplies, tools and heavy equipment in case of theft or damage caused by natural disasters such as fires, windstorms and lightning.
If a peril covered by your property insurance policy brings your construction project to a halt, business interruption insurance can provide coverage for your operating and recurring expenses in the meantime.
Extra expense insurance can cover the costs to set up a temporary workspace after an insured peril.
Commercial General Liability Insurance
CGL insurance covers your landside operations for lawsuits alleging personal injury, damage from fatigue, property damage, false advertising and libel or slander.
ALIGN your marine contracting business with a broker who knows both land and water construction risks.
At ALIGNED, commercial insurance is all we do. When you choose ALIGNED, you get an advocate working with Canada’s top insurance companies with proven track records in marine industry expertise to get you comprehensive marine construction liability insurance that covers your commercial marine liability and fits your budget. Contact an ALIGNED customer advocate to get a free quote on marine construction liability insurance in minutes or get started right away by using our free online tool.