Coverages
Ocean Marine Insurance
As a coastal Maine company, we’ve been providing a safe harbor for generations of ship and boat owners.
Ocean Marine Insurance provides coverage for the hull of a vessel, property on the vessel and insured injuries to either passenger or crew. Coverage can be modified to meet the individual needs.
HULL COVERAGE indemnifies the owners of an ocean-going commercial vessel for loss due to perils of the sea, barratry of the master, pirates and similar hazards. Coverage also applies for fire and other named perils that can occur on land or sea.
PROTECTION & INDEMNITY COVERAGE, written in conjunction with hull coverage, protects against liability for bodily injury and property damage, including: loss of life or personal injury to guests, swimmers, the general public and employees, including a hired captain and crew. (However, it does not protect the insured against claims arising under the Longshore and Harbor Workers’ Compensation Act.)
SHIP REPAIRERS LEGAL LIABILITY COVERAGE is comparable to garage keepers legal liability insurance for parties having custody of customers’ automobiles. This "wet marine" form protects shipyards, marinas and others who service boats and yachts to the extent of their legal liability for such property in their custody. Specified causes of loss are covered and the premium charged is based on the number of hazards insured against.
DIRECTORS AND OFFICERS LIABILITY COVERAGE insures corporate directors and officers against claims, usually brought by stockholders, alleging loss due to mismanagement.
Allen Insurance offers a range of products, including specialized coverage for yacht and boat owners, and marina operators.
Your Allen Insurance expert will help you check for any gaps that may exist between your land and water operations, which can often be plugged with an ocean marine policy.
For more information, please see our Marine & Energy Division.
