Marine Industry

Marine Industry

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Coast Insurance has specialised in solutions for the marine industry for over 25 years, starting with our commercial offering for yacht clubs and marinas and the vessels berthed at them.

Today we offer an innovative, stand-alone public and products liability cover – marine combined liability, plus Business Pack and ISR, as well as environmental impairment liability, private jetties, vessels and voluntary workers personal accident, enabling you to arrange package solutions for your clients in one place.

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Please provide your slip to obtain an ISR quote.

Marine Combined Liability

Coast Insurance offers a marine combined liability policy that is a combination of a modern broadform liability wording and a ship repairers and marina operators liability cover. When combined with our other unique extensions designed for clients working in the marine industry, it provides a very broad coverage compared to a standard general liability product.

Key features

  • Policy limits available up to $50,000,000.
  • Lloyd’s and local security.
  • Claims authority.
  • Goods in physical and legal control up to the full limit.
  • Both marine and non-marine work covered under one policy.
  • No vessel length limit.
  • Watercraft are included in care, custody, control with no length limit.
  • Pollution liability covered to the policy limit (sudden and accidental).
  • Damage as a result of faulty workmanship covered with no sub-limit.
  • Statutory liability included up to $1,000,000 at no additional premium.
  • Professional advice covered to the policy limit (providing advice is not given for a fee).
  • Errors and omissions extension available on request.

Risk Appetite

From sole traders to large businesses in, or servicing, the marina industry:

  • Yacht clubs including hospitality.
  • Rowing clubs including hospitality.
  • Vessel cleaners/detailers.
  • Upholsterers.
  • Boat brokers.
  • Chandlery outlets.
  • Marine surveyors.
  • Training/skipper certification.
  • Electricians.
  • Gas fitters.
  • Plumbers.
  • Air-conditioning contractors.
  • Painters.
  • Divers (inspections, cleaning and structural work).
  • Hull repairers.
  • Boat builders.
  • Mechanics.
  • Boat lifters.
  • Boat stackers.
  • Boat yards.

Marine Industry Commercial Property

Coast Insurance offers a specialist commercial property product that is designed for entities servicing the marine industry.

Key features

  • Capacity up to $50,000,000 for any one location with excess layers available
  • 100% capacity or co-insurance support
  • ISR Mark IV available
  • Business Pack available
  • Lloyd’s and local security
  • Claims authority
  • Flood and storm surge extension available upon request
  • Buildings definition extended to include wharves, piles and jetties
  • Business interruption can be triggered in the event that wharves, piles or jetties are damaged

Risk Appetite

From sole traders to large businesses in, or servicing, the marina industry:

  • Boat lifters
  • Boat repairers
  • Commercial marinas
  • Fuelling facilities
  • Marine chandlery
  • Marine dealerships
  • Private jetties
  • Property owners
  • Rowing clubs
  • Yacht clubs
  • Marine clubs

Private Jetties

Coast Insurance provides a broad material damage policy for private jetties and commercial marinas covering accidental damage, fire, storm, flood and malicious damage.

Key features

  • Lloyd’s and local security.
  • Claims authority.
  • Can be packaged with our marine liability product to provide full public liability cover to the structures and adjoining vacant land, if applicable.

Risk Appetite

  • Private jetties.
  • Commercial marinas.

Environmental Impairment Liability

Coast Insurance offers an environmental impairment liability product to yacht clubs/marinas and boat yards for pollution that is unexpected and unintended. Coverage includes bodily injury, property damage, clean up and natural resource damage, and resulting pollution.

Key features

  • Policy limits available up to $5,000,000.
  • 100% Lloyd’s security.
  • Claims authority.
  • Emergency and defence costs included.
  • Gradual leakage of pollutants covered.

Risk Appetite

Yacht clubs, marinas, boat yards and fuelling facilities that have underground storage tanks including:

  • Oil/water separators, silt traps, stormwater retention basins or other similar pollution protection devices.
  • Septic tanks, cesspits, cesspools or other vessels, pits or containers that are used to store or contain sewerage.
  • Any storage tank that is present in a basement, cellar or similar underground area, if such storage tank is wholly situated on or above the surface of the floor

Club Voluntary Workers Personal Accident

Coast Insurance provides personal accident insurance for yacht and rowing clubs to cover losses resulting from an accident that occurs while their volunteers are performing voluntary work.

Key features

  • Policy limits available up to $1,000,000.
  • Lloyd’s and local security.
  • Claims authority.
  • Lump sum payments in the event of accidental death and other listed conditions resulting from an injury during voluntary work.
  • Periodic payments to replace income that is lost following an accident that occurs during voluntary work.
  • Injury assistance benefits where the injury occurs during voluntary work.

Risk Appetite

  • Rowing clubs.
  • Yacht clubs.

Vessels

Coast Insurance provides cover for a range of vessels owned and operated by businesses servicing the marine industry.

Key features

  • Lloyd’s and local security.
  • Claims authority.

Risk Appetite

  • Vessel fleets owned by yacht or rowing clubs for use by members.
  • Vessels owned by yacht or rowing clubs used for rescue or by race organisers.
  • Demonstration craft and stock of water craft owned or held by marine dealerships.
  • Small work boats.

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Marine Industry