Protecting Your Boating Hobby

When you have the warm sun on your face and a breeze in your hair, you aren’t worrying about what will happen if your boat gets into an accident. Unless you live in a state that requires vessel insurance, you may not have taken out a policy to address the liabilities of your hobby craft. However, the right insurance will make a big difference in your ability to sail worry-free.

Coverage Inclusions

With boat insurance, a policy could provide the financial coverage when damage occurs to your boat or parts of it equipment, as well as damage your boat might bring to other boats or property and any bodily injuries that may occur due to an incident involving your boat. Vessels that are usually eligible for coverage include both engine and sail-powered crafts, but vessels that are usually excluded are personal watercraft, such as:

  • Wave runners
  • Wave jammers
  • Jet Skis

Why a Special Policy?

Although boat insurance isn’t always required, the expert information found at advises that you purchase a stand-alone policy rather than relying on your homeowner’s insurance to cover potential damages. While there may be some inclusions of your craft on your other policy, boat insurance lets you specialize in your protection and guarantee financial security when an accident occurs. Paying for the repairs of your boat, someone’s medical bills or the costs associated with legal action could destroy your life’s savings. Don’t’ sail into a disaster; purchase boat insurance.

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What You Need To Know About Marine Insurance

The more global our economy becomes, the more cargo ships transfer goods across seas. Unfortunately, accidents happen. Having marine insurance with New York Marine & General Insurance Company covers the legal liabilities of the company transporting goods. But how do you know if you need to have a marine insurance policy and what does it cover?

Coverage Basics

When goods are shipped by sea, the insurance offers coverage from the beginning of the shipping process until the destination arrival. Items stored in port warehouses are often covered. Personal and commercial cargo can be separate coverage options depending on the policy.

Claim Types

Accidents and losses happen. When they do, a claim usually arises, since someone needs to pay the bill. Typical claims covered by marine insurance include grounded ships, total loss, loss of cargo, hull damage, revenue loss and pirate attacks. The insurance steps in for negligence, weather and accidents.

Who Benefits

Businesses who transport goods for their company or others should look into a marine insurance policy. Fishing, marine contracting, goods export/import companies and marine service supply companies also benefit. Private owners of seagoing vessels such as yachts may also need marine insurance.

If you’re unsure if you need marine insurance with New York Marine& General Insurance Company, ask your agent if you are at risk. Marine insurance is for both commercial and personal purposes.

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Many Advantages to Having Marina Liability Insurance

Marina liability insurance covers a variety of marine industry segments. Marine surveyors, marina operators, and boat builders and boat dealerships can all benefit by having this coverage in place. Operating in the marina industry involves a variety of property and liability risks that it’s important that you address. It’s your job to determine which exposures you face within your sector and purchase affordable business solutions that can help you to avoid costly claims that could bring financial ruin to your business.

Marinas are essential to this industry as they provide dock space, along with a host of other amenities and services. Many owners have a diverse amount of activities and often venture into hosting regattas, fishing tournaments, boat shows, watercraft rentals and charters. The type of services being provided, and the many duties they perform, often results in the likelihood that they may wind up incurring liability exposures.

In order to be a successful business person, you have to take certain risks. Every business owner has to deal with their own unique risks, and this may require them having their own special forms of coverage. Some specifically designed policies required by marina operators may not fit into the standard commercial property or liabilities forms. It’s important to understand what your policy pertains to, in the form of protection, so that you can properly cover these risks.

Insuring against all types of concerns

Depending on the number of years that you have been in business you may have been the victim of a theft, had acts of vandalism occur, or had someone involved in an accident that resulted in injuries. By having marina liability insurance you were able to have your insurer help to pay the costs associated with that incident without having to pay out-of-pocket expenses.

Marine protection is critical, and you may need special additional coverage if you sponsor club activities, or other events for members, like fundraisers or other special events. Marine insurance policies can cover everything from boats owned by clubs, to slips and moorings, to liability for club members and guests.

Make sure that you obtain proper coverage with a reputable and experienced marine insurance agency, someone that can use their expertise to deliver the right products for the right circumstances.

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Winter and Insurance Programs for Marinas

With winter come weather conditions that vary all over the US. Even in relatively warmer climates there is often a significant change, and weather patterns may develop that create concerns for many business owners. After all, the weather could easily change with little warning and when colder temperatures do appear, boats and marinas must prepare to deal with these elements.

Any changes in the weather will surely affect marina liability concerns, which is why there are insurance programs for marinas to tend to the needs of your clients. You may want to explain that they should consider examples of how to properly winter-proof vessels, and the surrounding areas currently in their care.


Make a checklist of any necessary repairs


With repair shops experiencing a lower workload, now may be the time to get all of those necessary repairs out of the way. Suggest to your clients operating marinas that they should be checking for rust, rot and other signs of deterioration and replace or repair anything that could constitute a danger or hazard.

Rust is quite destructive to an engine, and using a corrosion inhibitor to safeguard idle parts should do the trick. Even for boats that aren’t stored in a location where freezing occurs, they’ll still need to ensure that they are being properly maintained all year round.

Engines that are stored in colder regions will require winterization procedures to eliminate internal water freezing. This condition can often result in damage due to the expansion of metal parts within the engine. Using propylene glycol is an effective means for winter engine protection plus it’s environmentally sound.

Boat engines are most susceptible to damage when weather becomes colder, and an anti-corrosive should be used that will protect the internal surfaces of the carburetor and cylinders during winter. They should also check the spark plugs and replace any that have sustained any damage or appear to be broken.

Using this off-season time can provide your clients with the ability to ensure that their guests will once again have an enjoyable experience when the warmer climate returns. Talk to your clients about investing time in insurance programs for marinas to update their insurance and get answers to all of their questions pertaining to products and services.


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Commercial Marine Insurance Programs are Vital to Our Economy

Much of the trade and product distribution in the US is dependent upon companies involved with global supply chains and the logistics service providers that work fervently to ensure the delivery of goods in the US and around the world. Commercial Marine Insurance Programs consist of services and products specifically designed to respond to the intricate risk profiles of the many entities that make up this dynamic and complex industry.

Brokers like you need to be able to provide your clients in the marine cargo industry, many involved in the transportation of goods on state highways, including oversized cargo, along with warehouse operators, with flexible and broad coverage for travel by rail, road and waterways. Many of your clients understand the value of a stock throughput policy that provides coverage from the “cradle to the grave.” Providing the necessary insurance solutions to ensure that they are covered in the event that any one of a number of issues develop during their daily operations gives them much needed peace of mind.

Worldwide stock throughput coverage is vital

A Stock Throughput policy is helpful in eliminating possible coverage gaps thereby creating a policy that protects many products and other merchandise on a global basis from loss or damages that may occur. This policy provides a safeguard for the entire time the insured is responsible for the goods in their care. As the broker you’ll be providing not only continuous coverage, but also a simple and easy claims process, and reduced premium expenses as well.

Freight forwarders, property brokers, and warehouse operators are unfortunately all in a position to be held liable for any damage to precious cargo while it is in their care, custody and control. This includes those times when they are arranging for transport of the shipments. Explain the benefits of this coverage (available in various forms) to provide defense to intermediaries against any allegations of neglect or mishandling and provide for indemnification in instances where they are found negligent.

Warehouse operators also have a legal responsibility for cargo lost or damaged while in their custody. Providing them with bailee legal liability coverage, also available under Commercial Marine Insurance Programs, will satisfy their needs when a claim is brought against them as well.

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Commercial Inland Marine Insurance Programs

Commercial Inland Marine Programs are instrumental in helping businesses with increased levels of exposure to carry customized insurance coverage. Many commercial marine insurance solutions are made available to companies dealing in global supply chains or as logistics service providers. Products are specifically designed to respond to all of the unique risk profiles of the many entities that make up this dynamic and complex industry.

As specialists who serve this business model, you must have the required knowledge to help your clients find the best commercial marine insurance for their company, and at the best price. This provides them with the peace of mind to tend to their customers and the chore of running a complex business that must often deal with intense competition.

Looking at the many benefits of marine insurance

Inland marine coverage provides comprehensive protection on goods in transit worldwide, including storage, and provides solutions tailored to the size and complexity of exposures that are often faced. Your clients are depending on you to help them receive a fast and flexible underwriting response when the time comes and a carrier that can give them the sort of customized global claim and recovery programs that they’ve come to expect.

There are plenty of risks involved in the business of moving freight from one place to the next, and companies must review their supply chain security to ensure they are taking the necessary precautions to protect their goods and employees from any criminal activities taking place in the world today. In addition, they should have a robust marine cargo insurance program in place to protect against any and all transit risks.

Problems can occur in many different ways, and your client is responsible for the safe transit, and delivery of goods entrusted to them. The list of dangers is long, and can include everything from incidents involving rough handling, collision, overturn, or theft, to non-delivery, wrong destination, and even cases involving jettison. When they’re ready to discuss coverage options, you need to partner with someone that specializes in insuring transportation and global logistics service providers including securing Commercial Inland Marine Insurance Programs.

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Merrimac Marine & Boating and Watercraft Safety

In warm weather climates, such as here in many parts of Florida, marina activities are a year-round event. Many water enthusiasts like to partake in all types of water sports activities, including jet skiing and tubing, both of which can provide recreational fun. However, there are some inherent dangers, and safety should remain a priority while on the water.

Your clients can enrich their relationships with their customers by having them follow a few tips that can help to reduce the risk of marina liability. Merrimac Marine wants everyone to be proactive when it comes to preventing personal injuries and other mishaps related to activities in and around the marina.

Always drive responsibly

Boats and watercraft are the cars and bikes of the sea. It is recommended to avoid large wakes and never exceed 20 miles per hour while towing a tube. The tube has the capability of exceeding 50 miles per hour on turns during a “whip,” even while the boat is traveling a mere 20 miles per hour. A tube should never be closer than two times the towrope length to a stationary object (like a dock) or other boats in order to prevent a serious injury from occurring.

Becoming familiar with the equipment in use is essential to safety. Always follow the manufacturer’s recommendations in regards to number and size of passengers, weight limitations, and maximum towing speed.

People who rent or purchase watercraft should be warned never to operate a boat or any jet ski watercraft if they have been drinking alcohol or using drugs. These can impair reaction, timing and judgment. In waters that are overseen solely by the states, the states have the authority to enforce their own boating under the influence (BUI) statutes.

Regardless of whether they are on a boat, tubing, or riding a jet ski, wearing a personal flotation device is critical. In the event they fall overboard, or fall off of the equipment they were riding on, once the passenger is separated from the boat, the life jacket will help ensure his or her safety until they can be retrieved from the water. Merrimac Marine wants to help your clients to help their customers be safe each and every time they leave port.

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