Marinas may appear relaxing on the surface, but they carry all kinds of threats with them. From boats in the water to people walking on land, there are numerous hazards that need to be anticipated ahead of time. The best way to do that is with a marina insurance policy.

Fortunately a Tennessee independent insurance agent can help you find the right type of marina insurance to protect against your biggest risk factors. But before we jump too far ahead, here’s a breakdown of this crucial coverage.

What Is Marina Insurance?

Marina insurance is a form of coverage designed to protect the owners and operators of marinas from numerous perils. Many types of threats are accounted for in coverage, from property damage to lawsuits and beyond. Working together with a Tennessee independent insurance agent is the best way to assemble a marina insurance package that meets your needs fully.

How to Insure a Marina in Tennessee

To fully protect your marina, you’ll want to find a solid marina operators insurance package. These comprehensive packages provide all the basics of coverage needed by marinas, including commercial property insurance, commercial general liability insurance, business interruption insurance, and more. 

Your coverage package can also be customized to protect various aspects that apply to your specific marina. A Tennessee independent insurance agent can help with your search.

What Does Marina Insurance Cover in Tennessee?

Aside from the basics of coverage described above, marina insurance in Tennessee also provides several additional protections. According to insurance expert Jeffery Green, a marina operators insurance package includes coverage for:

• Wet and dry storage
• Docks, slips, and piers
• Work boats and boat rentals
• Repairs and fueling
• Pollution
• Bumbershoot (i.e., excess marine liability)

Your Tennessee independent insurance agent can ensure that you walk away with all the coverage you need for these aspects of your marina and anything else you may require.

Marina Stats for the US

Before shopping for coverage for your marina, it’s helpful to know how the industry overall is performing. Check out some recent stats for marinas nationwide below.

Industry revenue of “marinas“ in the US from 2012 to 2024 (in million US dollars)

Industry revenue for marinas in the US has increased quite a bit in the past decade, and is projected to increase even further in the coming years. The marina industry generated $4.7 million in 2020, and is projected to generate $5.14 million in 2024.

With the marina industry continuing to expand, it’s extra-important that yours be set up with all the coverage it needs. Get in touch with a Tennessee independent insurance agent today to find the right marina insurance in your area.

What Isn’t Covered by Marina Insurance in Tennessee?

Though marina insurance provides a lot of critical coverage for marina owners and operators, it also comes with a certain set of exclusions. Green stated that marina operators insurance packages tend to exclude:

• Repairs done by subcontractors
• Damage done by vermin and insects
• Vessels stored free of charge
• Intentional acts and malicious mischief

If you’re concerned about any of the coverage exclusions in your marina insurance policy, your Tennessee independent insurance agent may be able to help you add additional policies to bridge the gap.

What Are the Benefits of Marina Insurance in Tennessee?

Having coverage for your marina can protect not only you as the owner/operator, but also the folks who use the marina to dock their boats, folks who rent boats, passengers, visitors, repair crews, and more. Having a marina insurance policy in Tennessee comes with these important benefits:

• Commercial property protection: All the commercial property at your marina needs protection against numerous threats, from vandalism to fire and lightning damage. Without marina insurance, repairs could be extremely expensive if you had to pay out of pocket.
• Lawsuit protection: Another critical protection offered by marina insurance in Tennessee is commercial liability coverage. Liability insurance covers legal fees, including attorney and court costs, if you get sued by a third party for claims of bodily injury or personal property damage by your marina.
• Business interruption protection: If a disaster like a fire causes your marina to have to temporarily suspend operations, business interruption insurance can help to make up for income you’d have otherwise lost during this time. Business interruption coverage can also pay a continuation of employee wages during shutdowns.

A Tennessee independent insurance agent can further explain many of the critical benefits offered by marina insurance.

How Much Does Marina Insurance Cost in Tennessee?

The cost of your marina insurance will depend on numerous factors. The bigger, busier, and riskier your marina is, the more you’re likely to pay in premiums each year. The following factors can impact the cost of your coverage:

• The size of the marina
• The exact location of the marina
• The marina’s annual revenue
• How many boats are stored at and enter or leave the marina

A Tennessee independent insurance agent can help you find more exact quotes and figures for marina insurance near you.

Here’s How a Tennessee Independent Insurance Agent Can Help

When it comes to protecting marina owners and operators against fire, lawsuits, and all other expensive threats, no one’s better equipped to help than an independent insurance agent. Tennessee independent insurance agents search through multiple carriers to find providers who specialize in marina insurance, deliver quotes from a number of different sources, and help you walk through them all to find the best blend of coverage and cost.