Marine Insurance
Florida has more registered boats than any other state in the country. New York Harbor is one of the busiest ports on the East Coast. And yet, marine insurance remains one of the most misunderstood and underutilized coverages in the entire insurance market.
Whether you own a marina, operate a commercial vessel, run a fishing charter, build docks and seawalls, or ship cargo internationally — your business faces risks that standard commercial insurance policies were never designed to cover. That's where specialized marine insurance comes in.
At NextGuard Insurance, we run a dedicated Marine Insurance Division serving businesses across Florida and New York City. We work with 100+ specialty marine carriers — including programs that most general insurance agencies simply don't have access to — and we place the risks others can't.
Get your free marine insurance quote here →
What Is Marine Insurance?
Marine insurance is a broad category of specialty coverage designed to protect businesses and individuals who operate on, near, or around the water. It covers physical assets like vessels and cargo, liability exposures from maritime operations, and the unique risks that come with working in a marine environment — pollution, crew injuries, dock damage, and more.
Unlike standard commercial insurance, marine insurance is written by specialty carriers with deep expertise in maritime law, Jones Act liability, COFR requirements, and the specific risks of operating in a marine environment. Choosing the wrong carrier or the wrong policy can leave you catastrophically exposed.
Who Needs Marine Insurance?
The short answer is: anyone whose business involves the water in any meaningful way. Here's a breakdown of the marine operations we insure at NextGuard Insurance:
Marinas and Boat Clubs — Marina operators face a unique combination of liability, property, and pollution exposures. Marina Operators Legal Liability coverage protects you when a customer's vessel is damaged while in your care, custody, or control. Standard GL policies typically exclude this.
Commercial Vessels — Tugs and barges, ferries, fishing charter fleets, sightseeing boats, cargo vessels, and rental boats all require specialized Hull and Protection & Indemnity (P&I) coverage. P&I covers crew injuries, third-party liability, and pollution — none of which are covered under a standard commercial policy.
Marine Contractors — Dock and seawall builders, dredging operations, pile drivers, boat lift manufacturers, and mobile marine mechanics all carry marine-specific liability exposures. Marine General Liability and Ship Repairers Legal Liability are the core coverages for this category.
Boat Dealerships and Repair Facilities — A general liability policy won't cover a boat that's damaged while in your possession for repair or sale. Ship Repairers Legal Liability and marina inventory coverage fill that gap.
Ocean Cargo and Stock Throughput — Importers and exporters shipping goods by sea face significant exposure to loss, theft, and damage in transit. Ocean cargo policies cover single shipments or provide annual coverage for ongoing shipping operations. Stock throughput policies extend coverage from the point of origin through storage and delivery.
Fishing Charters and Tour Boats — Commercial charter operations require Hull and P&I coverage that accounts for passenger liability, Jones Act crew coverage, and the specific risks of carrying paying customers on the water.
Shipyards and Industrial Marine — Commercial shipyards, port facilities, and shipping terminals face some of the largest and most complex marine liability exposures in the industry. We place these risks through specialty markets with the capacity to handle them properly.
What Does Marine Insurance Cover?
Marine insurance is not a single policy — it's a package of coverages tailored to your specific operation. At NextGuard Insurance, we work with our specialty marine carriers to build the right package for each client. Common coverages include:
Hull and P&I (Protection & Indemnity) — Hull coverage protects the physical vessel against damage. P&I covers third-party liability, crew injuries under the Jones Act, and pollution liability. These two coverages are the foundation of most commercial vessel insurance programs.
Marine General Liability — Covers bodily injury and property damage claims arising from your marine operations — similar in concept to a standard GL policy, but written specifically for marine risks and marine venues.
Marina Operators Legal Liability — Protects marinas, boat clubs, and repair facilities when customer vessels are damaged while in your care.
Ship Repairers Legal Liability — Essential coverage for boat repair facilities and shipyards that work on customer-owned vessels.
Maritime Employers Liability — Covers crew injury claims that fall outside the scope of standard workers' compensation — particularly important for vessels operating in navigable waters where Jones Act liability applies.
Pollution Liability and COFR — Federal law requires vessels over a certain size to carry a Certificate of Financial Responsibility (COFR) proving they can cover the cost of an oil spill. We place pollution liability and COFR bonds for commercial vessel operators across Florida and New York.
Excess and Bumbershoot (Umbrella) — Provides additional limits above your primary marine coverages — critical for large operations where a single incident could generate a multi-million dollar claim.
Ocean Cargo and Stock Throughput — Protects goods in transit by sea, air, or land. Annual policies cover ongoing shipping operations; single-trip policies cover one-time shipments.
Builders Risk (Marine) — Covers vessels under construction or undergoing major refit — a specialized form of property coverage that most standard builders risk policies exclude.
Recent Marine Placements at NextGuard Insurance
We place the risks others can't. Here's a sample of what our Marine Division has recently placed:
HVAC importer — Stock Throughput policy — $750,000 in premium
Marina, boat club, and rental operation — Marine Liability, Hull, P&I, and Excess package — $550,000 in premium
Tug and barge operation fueling freighters — Hull, P&I, Crew, and Pollution — $249,500 in premium
Speed boat dealership — Marine Liability and Inventory coverage — $131,000 in premium
Commercial and military vessel builder — Marine Liability and Excess — $83,000 in premium
Boat repair facility — Marine GL and Excess — $80,000 in premium
Staffing agency for naval vessel welding — Marine GL, Maritime Employers Liability, and Excess — $70,000 in premium
Municipal ferry service — Hull, P&I, and Crew — $57,000 in premium
Seawall construction contractor — Marine GL, Hull, P&I, Inland Marine, and Excess — $56,000 in premium
Captained fishing charter fleet — Hull and P&I — $40,000 in premium
These placements range across industries, vessel types, and risk profiles. The common thread: they all required specialty marine markets and expertise that most general insurance agencies don't have.
Why Most Businesses Are Underinsured for Marine Risks
The most common mistake we see when reviewing marine business policies is coverage placed with a general carrier that doesn't specialize in marine risks. The policy looks fine on paper — until a claim happens.
General liability policies typically exclude watercraft and marine operations. Standard commercial property policies don't cover vessels or marine equipment. Workers' compensation policies may not respond correctly to Jones Act crew injury claims. And most general agents don't know enough about maritime law to catch these gaps at the time of sale.
At NextGuard Insurance, marine is not a side product. It's a dedicated division with access to specialty markets built specifically for the risks you face every day.
Serving Florida and New York City
Florida and New York are two of the most active marine markets in the country. From the marinas of Fort Lauderdale and Miami to the working harbors of Brooklyn and Queens, we understand the specific risks and regulatory environment in both states.
We place marine coverage for clients across Fort Lauderdale, Miami, Tampa, the Florida Keys, New York City, Brooklyn, and Queens — and we work with international marine markets for clients with vessels or cargo crossing borders.
Get Your Free Marine Insurance Quote
If your business touches the water in any way, we'd like to review your current coverage — or build a program from scratch if you're not currently insured.
A 15-minute conversation is all it takes to understand your operation and identify the right coverages. We'll go to our specialty marine markets, get competitive quotes, and come back to you with a clear recommendation.
Request your free marine insurance quote here →
Or call us directly at 754-337-9710 — Adolfo Segovia and the NextGuard Insurance Marine Division are ready to help right now.
NextGuard Insurance Marine Division — Licensed independent insurance agency serving Florida and New York. Located at 300 SE 2nd St, Suite 600, Fort Lauderdale, FL 33301. Contact: Adolfo@nextguardinsurance.com | (754) 337-9710
