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Marine Business Insurance

Business
Marine Business Insurance

All Aboard!

From storms to fires to spills, our marina insurance packages can provide the lifeline your marina needs to get it safely through troubled waters.

Having, and maintaining, the right insurance coverage for your business is a critical component of any business’ risk management strategy. Whether it’s fishing operations, cruising tours, boat dealerships, or rentals and storage, marine businesses like yours require adequate coverage to secure the unique risks of your business. Save time and money working with an experienced Gifford Carr broker as your advocate. Our brokers work with the top insurance providers across Canada to find the best fit to equip your business with commercial marine insurance solutions tailored to your needs.

At Gifford Carr, we are on your team. As an independent Ontario brokerage, licensed across Canada with local branches across the province, we work for you. Understanding the workings of your business operations to ensure your marinas, yacht clubs, mobile boat repair and rental operations, dealership, and yacht/boat brokerages are protected. Ensuring you have piece of mind, so you can focus on building your business. After all, protecting what matters, it’s what we do.

Ship puns aside. Trust Gifford Carr Insurance Group to ensure your marina is in safe harbour. 

TYPES OF MARINE BUSINESSES WE WORK WITH:

  • Builders and manufacturers
  • Boat dealerships and brokerages
  • Docks and lifts
  • Marinas (including those with camping, gas/fuel, retail, and restaurant operations)
  • Marine outfitters and accessory businesses (including; cabinetry, upholstery, plumbing, tarps, covers etc)
  • Mechanical repair facilities
  • Specialty marine operations (including repair and maintenance of fiberglass, aluminum, vintage or wooden boats)
  • Winterization and storage

FACTORS CONSIDERED IN YOUR MARINE COVERAGE:

  • Buildings on the property (and their age/condition)
  • Experience of the operators
  • Fuel exposure
  • Location
  • Number of slips/births
  • Number of boats that can be stored (especially for winterization)
  • Scope of operations
  • Security systems in place
  • Revenue
  • Past claims
  • Proximity to firehall

FAQ

Do you have experience insuring marine operations?

Yes.

Our team of experienced commercial brokers have been servicing marine operations for over 30 years. We have locations across Ontario and are licensed across Canada as a nationally accredited brokerage to serve you.

I need insurance for my marina, where do I start?

Let’s connect. 

There are a number of details we need about the scope of your operation to provide a quote. We’ll start with a conversation and then complete an application that we can use to find you the best coverage for your specific business.

What are the types of marine insurance?

No two marina operations are alike, so the coverage required to protect your business will vary depending on your unique needs. There are basically three types of marine-related insurance:

  1. Insurance for marinas; package coverage for slips and launch, fuel, repair operations, and other general operations common for marina businesses.
  2. Commercial vessel insurance; for a company boat (can be anything from a pontoon or fishing boat to wakeboarding or sailboat) to take clients out on tours or excursions.
  3. Personal vessel insurance; is the non-business-related boat coverage for your own vessel. Learn more about personal boat insurance solutions.

Is marine insurance mandatory in Ontario?

The simple answer is no.

Although business insurance is not mandated across Ontario it is very highly recommended for all industries. With marine operations the risks are unique, especially being on waterfront properties and generally having mixed operations with service, fuel, repairs, and retail stores.

If you want to know that your marina is insured, ask for a certificate of insurance. They are a free proof of insurance business owners can request from their insurance broker.

If something happens to a clients boats at my marine facility, am I responsible for it?

It depends. 

You do not have an insurable interest in that property (ie. no ownership, loan, or lien on the vessel) so you cannot insure it.

However, if you are found negligent, then your insurance would respond to a claim through your client’s insurance provider. It’s called a subrogation claim, but we are happy to walk our clients through that process should the need arise.

What is not covered in marine insurance?

No two marinas are alike. All insurance policies are subject to their own terms and conditions. There is no one answer to this question. It depends on terms within the coverage; is it comprehensive or named perils? Are there limitations or exclusions.?

A question best reviewed with an insurance broker. Connect with us to review your marine coverage!

Are you covered for a boat test drive?

Not necessarily. 

You have to add specific coverage for watercraft while on the water – called Protection & Indemnity coverage.

In the most basic terms, this coverage provides protection for the boat and the liabilities associated with it while on the water, even though it is not a watercraft you own but is under your care, custody, and control.

Do marinas need pollution insurance?

Yes.

Being on waterfront properties marine operations generally have heightened risks for environmental exposures. Generally, if your tanks are newer, double-walled, and have security features installed, pollution coverage is reasonably priced.


Let's put your marina in safe harbour.


Protecting your business, is our business. 

We work for you. With access to all the carriers across Canada rest easy knowing that we are always working in the best interest of you, our client.

Get in touch
Get in touch
Get in touch
Complete the form to connect with your local Gifford Carr broker to get a detailed quote. Trust us to ensure you are protected. So you can focus on what matters.



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        Contact our team
        Contact our team
        Contact our team
        Complete the form to connect with your local Gifford Carr broker to get a detailed quote. Trust us to ensure you are protected. So you can focus on what matters.





          Watercraft Liability

          Watercraft Liability

          A marina serves boats (and boaters).

          Your business requires specialized coverage for damage to boats in your care, custody and control when repairing, servicing, transporting or storing boats for your clients.

          Property

          Property

          A fundamental coverage for the bricks and mortar of your marina.

          In broad terms, this coverage protects your buildings, contents and inventory and could include your rental boats.

          Commercial General Liability

          Commercial General Liability

          An essential for all business operations.

          Icon Market
          Icon Market

          In the event of property damage or bodily harm caused by you, your business or your employees to a third party, a comprehensive Commercial General Liability Insurance policy should protect you from litigation, out-of-court settlements, and judgements awarded by the courts.

          Learn more about Commercial General Liability.

          Marina Liability

          Marina Liability

          Liability coverage specific to marina operations.

          marina insurance
          marina insurance

          There are two pieces:

          Marine Liability: covers the legal liability to third parties for property damage or bodily injury including protection and indemnity.

          Marina Customers Liability (Bailee Coverage): provides specialized coverage for damage to boats you do not own but are in their care, custody and control when repairing, servicing, transporting or storing boats.

          Environmental Liability

          Environmental Liability

          Environmental liability insurance is there to provide funds to remediate the site as quickly as possible.

          Since we need fuel to power our boats, as marina’s you store and provide fuel. We need to be extremely careful to protect our environment waterside should a disaster occur. This coverage is in place for that scenario.