If you own a marina, you already know all about marina insurance. If you are a boat owner, you might be interested to learn a little bit about what goes in to a marina insurance policy. Just what does your marina cover? In addition, what insurance will they expect you carry if you want to dock you boat there?
Most marinas require boaters to carry liability insurance. Liability insurance, generally speaking, covers damage to another person’s boat, dock or property that you are deemed responsible for. That would include property damage, bodily injury, pollution and wreckage removal. If you do not carry the minimum expected liability insurance policy, it is likely you will not be able to dock your boat.
Marinas also often require repair people who engage in repairs on docked boats to carry general liability and workers compensation policies. This ensures that the companies that employ the contractors are both protecting their workers as well as keeping the marina from incurring those risks.
You may also notice what is called a waiver of subrogation. It sounds a lot like legal jargon, but what it essentially does is protect the marina from incurring costs to damaged property when it is expected the boat owner carries the proper policies to protect against those damages.