Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 07-11-2013, 12:52   #1
Registered User
 
typhoon's Avatar

Join Date: Feb 2007
Location: Toronto Canada
Boat: Bristol 45.5
Posts: 945
Images: 1
Marina wants to be on my Insurance?

Hi All
The Marina that I am storing my boat at for the winter wants to be named on my insurance policy as an "Additional Named Insured"

WHAT ?? I really have never come across this before , up here in Canada we have no such thing !

The boat has full insurance and 2 million liability, this should be good enough .

My broker said no way they won't do it , the yard says they must have it . What to do ??

Regards
__________________

__________________
typhoon is offline   Reply With Quote
Old 07-11-2013, 13:01   #2
Senior Cruiser

Cruisers Forum Supporter

Join Date: Jul 2006
Location: Chesapeake Region and Maine
Boat: 42' Bob Perry sloop
Posts: 4,038
Images: 4
Re: Marina wants to be on my insurance !! ??

It's pretty common here. It's additional protection for the yard against what are sometimes some pretty unscrupulous folks.

Our yacht club also requires this, and it's no big deal. Boat US insurance and others do it all the time in the U.S.

Bill
__________________

__________________
btrayfors is offline   Reply With Quote
Old 07-11-2013, 13:02   #3
Registered User
 
S/V_Surya's Avatar

Join Date: Mar 2009
Location: Sasafra river,MD
Boat: gulfstar ketch 41 Surya
Posts: 658
Re: Marina wants to be on my insurance !! ??

This is pretty standard around here. It means you will sue them if somebody else damages you boat.
__________________
S/V_Surya is offline   Reply With Quote
Old 07-11-2013, 13:03   #4
Registered User
 
Samantha ann's Avatar

Join Date: May 2011
Location: Charleston SC
Boat: 34 Irwin
Posts: 175
Just call your insurance company. When I was a dock master we required that as well. Shouldn't be any expense. Just means that if something happens to your boat the yard is covered for damage done by your boat.
__________________
Samantha ann is offline   Reply With Quote
Old 07-11-2013, 13:05   #5
Registered User

Join Date: Apr 2011
Boat: gone boatless
Posts: 128
Re: Marina wants to be on my insurance !! ??

Here in the States, very common and costs nothing. I hauled the boat just this week, notified insurance agent of new marina and supplied document to marina listing him as "named insured".
Hope this helps.

Larry
__________________
1affiah is offline   Reply With Quote
Old 07-11-2013, 13:06   #6
Marine Service Provider
 
Scott Berg's Avatar

Join Date: Jul 2011
Location: Aboard
Boat: Seaton 60' Ketch
Posts: 959
Re: Marina wants to be on my insurance !! ??

This is very common; marinas want to be listed as either a certificate holder or an additional insured. The traditional language added is:

The Certificate Holder [MARINA NAME HERE] is considered an additional insured where an Insurable Interest exists.

No big deal; makes it clear that the marina is doing it's due diligence when renting space and notifies them if the insurance is canceled or otherwise not in force, a much larger problem than you might expect.
__________________
Scott Berg is offline   Reply With Quote
Old 07-11-2013, 13:06   #7
Registered User
 
typhoon's Avatar

Join Date: Feb 2007
Location: Toronto Canada
Boat: Bristol 45.5
Posts: 945
Images: 1
Re: Marina wants to be on my insurance !! ??

Quote:
Originally Posted by Samantha ann View Post
Just call your insurance company. When I was a dock master we required that as well. Shouldn't be any expense. Just means that if something happens to your boat the yard is covered for damage done by your boat.

I understand that the yard needs proof of insurance, not a problem. My policy covers any and all damages that my boat could do in the marina or other boats in the Liability clause.

Regards
__________________
typhoon is offline   Reply With Quote
Old 07-11-2013, 13:10   #8
Registered User
 
typhoon's Avatar

Join Date: Feb 2007
Location: Toronto Canada
Boat: Bristol 45.5
Posts: 945
Images: 1
Re: Marina wants to be on my insurance !! ??

Its all very strange, so what happens if I am travelling , does every Marina that I stop in, even for just a night need to be named ?? Thats a lot of phone calls and faxes .

Regards
__________________
typhoon is offline   Reply With Quote
Old 07-11-2013, 13:10   #9
Senior Cruiser
 
Vasco's Avatar

Cruisers Forum Supporter

Join Date: Apr 2004
Location: Toronto
Boat: CS36Merlin, "La Belle Aurore" Ben393 "Breathless"
Posts: 7,140
Re: Marina wants to be on my insurance !! ??

I have run into marinas requiring proof of insurance in the States, not unusual. The yard where I store didn't ask for anything.
__________________
Rick I
Toronto in summer, Bahamas in winter.
http://groups.yahoo.com/group/beneteau393/
Vasco is offline   Reply With Quote
Old 07-11-2013, 13:15   #10
Registered User
 
typhoon's Avatar

Join Date: Feb 2007
Location: Toronto Canada
Boat: Bristol 45.5
Posts: 945
Images: 1
Re: Marina wants to be on my insurance !! ??

Hmmmm as a crazy Canadian this makes even more crazy LOL

Regards
__________________
typhoon is offline   Reply With Quote
Old 07-11-2013, 13:21   #11
cat herder, extreme blacksheep
 
zeehag's Avatar

Cruisers Forum Supporter

Join Date: Jul 2008
Location: furycame alley , tropics, mexico for now
Boat: 1976 FORMOSA yankee clipper 41
Posts: 17,777
Images: 56
Send a message via Yahoo to zeehag Send a message via Skype™ to zeehag
Re: Marina wants to be on my insurance !! ??

typhoon-- i have yet to see that on any insurance policy here since i have begun to cruise.
zeehag is offline   Reply With Quote
Old 07-11-2013, 13:33   #12
Nearly an old salt
 
goboatingnow's Avatar

Cruisers Forum Supporter

Join Date: Jun 2009
Posts: 13,649
Images: 3
Re: Marina wants to be on my insurance !! ??

The purpose of having their interest named on your policy is to ensure that they can claim directly from your insurance company in the event of your boat causing damage to their facility , as without that , the insurance company will settle with you as the "insured" it prevents you walking of with the money and the boatyard trying to recover it from you.

Not that usual in my part of the world in boat insurance, but common in other forms of insurance .

dave
__________________
Check out my new blog on smart boat technology, networking and gadgets for the connected sailor! - http://smartboats.tumblr.com
goboatingnow is offline   Reply With Quote
Old 07-11-2013, 13:48   #13
Registered User

Join Date: Sep 2013
Posts: 65
Re: Marina wants to be on my insurance !! ??

Quote:
Originally Posted by Samantha ann View Post
Just call your insurance company. When I was a dock master we required that as well. Shouldn't be any expense. Just means that if something happens to your boat the yard is covered for damage done by your boat.
This.

Imagine boat catches on fire and burns marina... Marina is covered. Very common practice
__________________
N3VR L8 is offline   Reply With Quote
Old 07-11-2013, 13:57   #14
Moderator
 
HappyMdRSailor's Avatar

Cruisers Forum Supporter

Join Date: May 2008
Location: North Mississippi
Boat: 48 Wauquiez Pilot Saloon-C22 Chrysler Sunpiper- 19 Potter-Preparing to cruise w/my girl
Posts: 5,980
Re: Marina wants to be on my insurance !! ??

Normal SOP....
__________________
In the harsh marine environment, something is always in need of repair...

Mai Tai's fix everything...
HappyMdRSailor is offline   Reply With Quote
Old 07-11-2013, 13:57   #15
Registered User
 
Tim R.'s Avatar

Join Date: Jul 2012
Location: Portland, Maine
Boat: Caliber 40LRC
Posts: 604
Re: Marina wants to be on my insurance !! ??

Yup. Required at our marina in Maine too. There really is no downside for you. Why the broker said "no way" is puzzling.

As far as what to do, it is pretty clear you have two choices. Add the marina as additional insured or find a different marina that does not require this. The second option will be much more difficult though.
__________________

__________________
Tim R.
Our Carina is sold
1997 Caliber 40LRC
TKR on a Boat Website
Tim R. is offline   Reply With Quote
Reply

Tags
insurance

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Karpas Gate Marina, Northern Cyprus - The Truth miyagimoon Europe & Mediterranean 136 20-10-2016 08:32
One day worth of insurance for a haulout melissajenks General Sailing Forum 57 04-11-2013 19:05
Slipping and Insurance - Perth, WA Wotname Construction, Maintenance & Refit 6 13-12-2011 01:26
Roosevelt Roads, Puerto Rico - What Happened to the Marina ? markpj23 Atlantic & the Caribbean 15 01-10-2011 19:55



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 02:19.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.