Listing Marina on Insurance

[Legacy]

Hi all. This is the insurance policy at our Marina. Does it make sense?

For your protection and the protection of all of the vessel owners in the marina, our license agreement requires that all of our customers maintain insurance whenever the vessel is at the Marina. “Evidence of insurance including adding Bosport Docking, LLC as an additional insured shall be delivered to Bosport prior to each License Period.”

Rick

[zinbaad]

When I was at the Worlds Fair Marina & now at Bayside, both required the marinas name as "Additionally insured". There was no fee to add them on policy. As far as winter storage they do not ask to be named . Seems to be a standard though

[jcollins]

I have always had to show proof of coverage, but never asked to add the marina as additional insured. Does that mean if there is a loss they would file a partial claim against everyone's policy? Which also brings up the question - if my boat catches on fire and damages my slip, does my policy cover that if they are not an additional insured?

[Legacy]

Those were my questions too. But I have them listed, gotta play by the rules!

[Chuck Waygood]

As always, the language of the policy will govern your coverage . If you have liability coverage, the marina's loss due to your fire MAY be covered, but technically the marina would have to sue you to get a judgment first, and to establish your liability, although in many cases your insurance co. Would step up to settle the claim to avoid the litigation costs. Adding the marina as an additional insured saves a lot of hassle and is a normal requirement, generally at no cost to the insured.

[Pitou]

Hey Rick, I Spoke to the Admiral who writes a number of marinas and she has them all do as you've described. It is similar to commercial building owners who have their tenants list them as an additional insureds. In my real estate dealings, I am always sure to have the owners listed on the tenants policy and require a minimum of a million liability. It keeps the slips and falls off of their policy and on the tenants as long as the policy limit is not exceeded. This is primarily done so as that if they get sued under a liability issue from something that occurs on your boat, such as your guests have a little too much fun aboard Legacy and take a tumble on the dock and decide to sue the marina, then liability goes back to your policy 1st as the marina is listed on your policy and now shares in your policy limits of coverage. It helps to keep their claims down against their own policy. If possible, everyone tries to cover their a$$ these days.