What Is Marine Insurance?what is marine insurance

“Marine insurance covers the loss or damage of ships, cargo, terminals and any transport by which property is transferred, acquired, or held between the points of origin.”
Wikpedia : 8/1/14

This definition of marine insurance, while common to marine insurance does not begin to describe the multiple coverage’s nor activities related to the insured’s involvement in operations associated with waterborne activities. “What is marine insurance” can cover broad areas of interest and expertise for insurance carriers, as well as agents. These include but are not limited to recreational marine, brown water marine, blue water marine, aviation and cargo insurance.

Marine Insurance House specializes in two areas of interest.

  1. Recreational Marine Insurance: Involves specific coverage for those involved in providing services to the recreational marine industry, i.e. pleasure boats and yachts and to the various activities associated with the same. Marinas, yacht clubs, boat manufacturers, boat dealers, boat brokers, sailing schools, artisan marine contractors, boat repair and service yards all provide services to this sector. Pleasure boats and yachts would also be defined as recreational marine risks due to the nature of their usage.
  2. Brown Water or Commercial Marine Insurance: Refers to coverage for insured’s that are involved in commercial activities adjacent to or on the water. These risks are involved in such activities as dredging, dock or pier construction of all types, marine railways, dry docks and ship repair facilities as well as other types of commercial marine contractors. Certain vessels fall in this category, examples would include, tour boats, dinner cruises, charter vessels, ferries, tugboats, dredges, push boats, cargo vessels, towboats and a wide assortment of other commercial vessels.

We hope this site is of assistance in unveiling some of the mystery with this unique and diverse insurance product.