Your Guide to Marina Insurance

Safe harbour. That’s what boat owners and marina operators expect from you. The risks and dangers of running a marina are many. From storms to fires to spills, our marina insurance packages can provide the lifeline your marina needs to get it safely through troubled waters. 

Risk Management for Marinas

The following precautions can help minimize the risks faced by your marina:

  • Reduce the risk of damage to your marina from natural disasters by ensuring that it is built, renovated and serviced by contractors who specialize in marina construction
  • Ensure that contractors and subcontractors are insured and that your marina is listed as an additional insured on their policy
  • Perform regular inspections on your marina’s planks, signs, electrical cords, power terminals, water pressure, cranes, forklifts, etc.
  • Reduce the risk of fire with safe storage and reduction of flammable materials such as fibreglass, wood, rubber, kerosine, gas, oil, diesel, etc.
  • Use fire prevention protocols and equipment such as fire alarms, detectors, and extinguishers, smoke detectors, sprinkler systems, in indoor boat storage facilities
  • Use up-to-date surveillance and security systems throughout the marina
  • Enforce strict policies and procedures regarding refuelling and proper waste management of cleaners, oil, gas, diesel, stormwater runoff and other liquids that can pollute your marina’s waters

Of course, having and maintaining the right insurance is a crucial component of your marina’s risk management strategy.

Marina Insurance Coverages

Commercial General Liability Insurance – can provide coverage for lawyer’s fees, out-of-court settlements and awards for damages if your marina is sued for personal injury like a slip and fall, damage to third party property, false advertising and/or libel and slander.

Pollution Liability Insurance – this is a vital coverage for marinas and can cover cleanup costs, fines and legal fees related to pollution liability.

Property Insurance – is another fundamental coverage for marinas and can provide coverage for buildings, docks, boats in storage, etc., in case of fires, floods, windstorms and other perils.

Business Interruption – if your marina suffers damage from a peril named in your property insurance policy, business interruption insurance can reimburse you for business income lost while your marina is closed for repairs.

Hull & Machinery Insurance & Protection and indemnity Insurance – provides coverage for damage and legal liability if your marina’s boats and barges and non-owned boats are involved in collisions in the water or with an installation like a dock or pier and can protect you from legal liability if one of your boats or barges is involved in a collision that results in bodily injury or death.

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Don’t let a single incident wash away your life’s work, ALIGN yourself with commercial insurance specialists

Commercial insurance is all we do. When you choose ALIGNED, you get an advocate working with Canada’s top insurance companies to get you comprehensive marina insurance that covers your commercial liability and business risks at competitive rates. 

The commercial insurance specialists at ALIGNED can save you time, money and the hassle of shopping around for the right marina insurance at the best rates. Contact an ALIGNED advocate to get a free quote on marina insurance in minutes.

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