Commercial Vessel Insurance
Specialized coverage for boats used in business
When a boat is used for commercial purposes, its insurance needs can differ considerably from those of a privately owned recreational vessel. I work with business owners to explore commercial vessel insurance solutions for boats used in business operations, including charter services, sightseeing tours, water taxis, and other eligible marine-related activities.
Whether you operate a single vessel or use a boat as part of a broader business, I can help you explore coverage options based on how your vessel is used, where it operates, and the risks associated with your business.
What can commercial vessel insurance cover?
Commercial vessel insurance can be structured to address a range of risks associated with operating a boat for business purposes. Available coverage depends on the vessel, its use, underwriting eligibility, and the terms of the policy.
Physical Damage Coverage
Helps protect your insured vessel against covered physical damage or loss, including certain damage resulting from accidents, fire, theft, or other covered events.
Watercraft Liability
Provides protection for covered legal liability arising from bodily injury or property damage involving the ownership, maintenance, or use of an insured vessel.
Pollution Liability
May provide coverage for certain liability and cleanup expenses arising from a covered accidental discharge or spill of pollutants from an insured vessel.
Crew Liability
For eligible operations with captains or crew members, specialized coverage may address certain employer liability exposures under applicable maritime law.
Business Interruption Coverage
May help address certain financial losses resulting from a covered physical loss that interrupts your business operations.
Coverage availability, limits, exclusions, and conditions vary by policy.
What types of businesses might need commercial vessel insurance?
Commercial vessel insurance may be appropriate for eligible businesses that use boats as part of their operations, including:
Private charter operators
Sightseeing and tour businesses
Water taxi services
Small businesses with marine-related operations
Other eligible businesses that use vessels commercially
The appropriate coverage depends on the nature of your business, the vessel’s use, and the requirements of the insurance program.
Commercial vessel insurance eligibility
Commercial marine insurance programs have specific underwriting requirements that determine which vessels and business activities may qualify.
The commercial vessel insurance program I have access to may consider vessels with the following characteristics:
Vessel age No age requirements
Vessel value Up to $1.5 million
Maximum speed Acceptable up to 65 mph
Navigation Specific navigation limits apply and may be expandable upon request
Business use Certain charter, tour, water taxi, and small-business operations may be eligible
Storage requirements Vary by location
Florida: Boats with outboards need to be kept in secure locations when on trailer
Rest of the United States: Boats can be kept at a marina, residence, trailer, lift or other storage type
These are general program guidelines, not a guarantee of eligibility. Final acceptance depends on underwriting review and the specific facts of the risk.
Business activities that may not qualify
Not every commercial marine operation is eligible for every insurance program.
The program I use to offer commercial vessel insurance identifies the following uses as ineligible:
Boat rentals
Commercial fishing
Bed-and-breakfast operations
Boat schools
Boat clubs
If your business involves one of these activities or another specialized marine operation, I may be able to help you explore whether another insurance option is available.
What kind of commercial vessel insurance does my business need?
Commercial marine insurance needs can vary considerably depending on your vessel, business operations, passengers or crew, navigation territory, and how the boat is used.
Contact me so I can learn more about your business and its vessel-related risks, and we can work together to explore commercial vessel insurance options appropriate to your needs.
At this link, please select Other under the Commercial category when submitting your quote request.
Commercial vessel insurance available in*:
California
Texas
Washington
*Licensing does not guarantee that every insurance product or carrier is available in every state. Carrier appointments, underwriting requirements, product availability, and eligibility vary by state and by individual risk.
If I am not currently licensed to offer the insurance solution(s) you are seeking in your state, I may be able to obtain the necessary licensing or connect you with a licensed professional who can assist you.
Carriers I offer coverage with:
