Additional Insured (Marina)

Our marina just started to require that they (the marina) be named as additional insured on our yacht policy... Is anyone else being required to add their marina to their insurance policy? Does anyone know the ramifications of this? Thanks

yep...some places now require it even for transients.


call your broker...my insurance has done it several times for me over the last 2 years and seemed like it was no big deal.

There was a whole thread on this a while back. Should be able to find it. It is not a big deal and is becoming more common. Usually can be done with no more than a phone call to your insurance company or broker.

My Marina (Municipal dock) requires it as well..

Since 2001. It covers them if your boat does damage to their property, for example if your boat goes on fire and it spreads.

Not a thing to worry about- the explanation above is spot on.

For annual leases...isn't it also that the marina will be notified in case the insurance is cancelled or lapses during the agreement period?

Thanks all, I suspect the main reason is the notification of insurance lapses... That was a constant issue when I was on the marina board... I never got a straight from the marina billing people only that it was now a requirement..

A standard for many years in industry between Owners and Contractors. Nothing new.

Further as Owner we require minimum coverages for those doing biz in our property. Once marina associations get act together issue minimum recommendations, when widely accepted among marinas, guess what? Yep, that's what your policy min will be.

What happens to premium if you have a spotless no claim record, your marina gets added as an insured, and it has an appalling record of frequent and dodgy claims on its own insurances. Can that affect your premium?

I was surprised the first time I encountered this but its common now and I pay it in LaConner. Because the marina is county owned, I also have to pay a leasehold tax of $60 a month and that irks the bejabbers out of me!

It's common here in the CA Delta and SF Bay waters. Reputable insurance companies should be familiar with it, too.

BruceK said:

What happens to premium if you have a spotless no claim record, your marina gets added as an insured, and it has an appalling record of frequent and dodgy claims on its own insurances. Can that affect your premium?

Click to expand...

I wouldn't think that it would make any difference. They insure you based on your location already.

BruceK said:

What happens to premium if you have a spotless no claim record, your marina gets added as an insured, and it has an appalling record of frequent and dodgy claims on its own insurances. Can that affect your premium?

Click to expand...

dhays said:

I wouldn't think that it would make any difference. They insure you based on your location already.

Click to expand...

Correct. Adding an AI to a policy does nothing more m.than make the AI and info addee on the policy with regards to cancellations, reinstatements, etc. They cannot make any changes to the policy or access policy info.

Pau Hana said:

Correct. Adding an AI to a policy does nothing more m.than make the AI and info addee on the policy with regards to cancellations, reinstatements, etc. They cannot make any changes to the policy or access policy info.

Click to expand...

So, they can`t make a claim? It just ensures they know if the policy is kept current, in the same way as a lender?
Property lenders here often have agreements with insurers so property stays covered even if the owner doesn`t pay on time, and of course they can bill the borrower for any premium they might pay.
My marina is not so switched on as to get themselves on the policy.

It's standard for many marinas and standard for most anyone renting a home or business building or apartment. Any rental property. Easy to get added on the phone and immediate.

For longer term transient places that require it, is it best to give an expiration date or call when leaving to cx it?

Pau Hana said:

Correct. Adding an AI to a policy does nothing more m.than make the AI and info addee on the policy with regards to cancellations, reinstatements, etc. They cannot make any changes to the policy or access policy info.

Click to expand...

Well, incomplete...see below for additional insured rights.