Commercial Charter COI Passenger Vessels(tourboats, dinner cruises, harbor rcruises, watertaxis, ferries, sight seeing)

Commercial Charter COI Passenger Vessels (tour boats, dinner cruises, harbor rcruises, watertaxis, ferries, sight seeing)

If you own or operate a commercial vessel that has a COI and carries more than 6 passengers for shuttles, sight-seeing tours, fishing or educational purposes; below is an example of coverage that insurers can offer to protect your operation.

• Hull coverage - physical damage to hull, machinery, and equipment.

• Protection & Indemnity – protects the owner for liabilities in the operation of the vessel.

• Crew coverage – employees/crew working on the vessel

• Pollution liability- coverage for fines levied due to oil or fuel spill

• Business Interruption - coverage for loss of income that your business suffers if vessels are out of commission due to a covered loss.

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Passenger Vessel Insurance

Watertaxi, Excursion & Ferry
Passenger vessels have very specific insurance requirements. Your exact insurance needs will vary based on the specific type of charter that you operate. Good insurance professionals can provide you with all of the information that you need in order to ensure that your financial investment are protected in the event of a catastrophe or a lawsuit. Most of them specialize in various types of commercial insurance. Typical specialties include:

• Ferry and Passenger Vessels
• Watertaxi
• Charter Fishing
• Sight Seeing Tours
• Day Cruises
• Extended Cruises
• Fishing Guides

Most insurers can provide coverage for boats and fleets of all sizes. Whether you have a collection of Bass fishing boats that you rent out to lake tourists or you need to protect your fleet of million dollar yachts, the maritime insurance professionals can outfit you with the precise charter fleet insurance to suit your business needs.

Commercial marine insurance can protect your business in many ways. Typical standard insurance policies include provisions such as:

• Protection and Indemnity Liability Coverage
• Pollution Liability Coverage
• Passenger Medical Payment Coverage
• Personal Property Coverage
• Towing and Emergency Assistance Coverage
• Dockside Liability Coverage
• Replacement Vessel Protection

In addition to standard policies and protections, fleet owners can elect to protect their assets with optional protection policies. With charter fleet insurance, you can protect everything from your captain’s employment to your company office or store. Typical optional policy additions include:

• Liability coverage for Captain and Crew
• General Liability Coverage
• Charter Legal Liability Protection
• Additional Protection and Indemnity clauses to protect company interests, loss of payees, and breach of warranty suits

A insurance company can help you protect all aspects of your marine based business. The commercial insurance professionals will take the time to understand the nature of your business, the composition of your passenger vessel(s), and the level of protection that you need as an individual business. Try to create a custom tailored insurance policy that suits your budget and is designed to protect you, your assets, your investments.