Commercial Marine Insurance: How to find the best coverage?

Commercial Marine Insurance: How to find the best coverage?
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When it comes to getting the most for your money, commercial marine insurance can help you conquer the open sea.


Sailing is a difficult career to choose. It’s hard, with long nights spent out in the darkness of the open ocean. Whether a line fisherman or a trawler, you need to insure your vehicle… and the cost of commercial marine insurance can be ridiculous. Luckily, there are ways around it.


One of the best ways to get around the costs of insuring your maritime business, is to opt for commercial marine insurance from a cell captive company. This way, you can underwrite any potential losses by grouping your insurance needs together with others in a similar business to you. Think of it as a union, but for your money, instead of your workers.

  • What is Commercial Marine Insurance?


For those that don’t know what commercial marine insurance is, we will run over the details. Commercial Marine Insurance is a combination of commercial business at sea insurance, and insurance for boats used in business dealings. If you can imagine the insurance costs associated with owning and operating a taxi rank, then you can properly picture the insurance costs for running a fleet of ships. 


Commercial marine insurance covers your costs against things that go wrong at sea. It allows you to be protected against liability while you are out there. For example, Talisman Casualty marine program provides Maritime Employers Liability that will protect you, should the worst happen. Not only will they protect you, they will do it at a far more affordable rate than you might get with a standard insurance firm. 

  • How do I Choose the Best Commercial Marine Insurance for my Business?


If you have the privilege of running a fleet or at-sea business of your own, then you need to make sure that certain protections are in place. Sea working is dangerous, with a higher death toll than other jobs potentially carry. This means you need employer’s liability, as well as business and fleet insurance. When you start to add these up, they become fairly expensive.

  • Choose commercial marine insurance by modular insurance options


To narrow down your choice in Commercial Marine Insurance options, consider a more modular approach. With cell captive firms, you are able to buy only the modules of insurance that you need, without having to secure payments on an entire policy just to benefit from a few of the key factors they cover. 

  • Choose commercial marine insurance by coverage


Another way to narrow down how to choose the best commercial marine insurance to protect your firm against Maritime employment issues, is to do it by coverage. Price is all well and good, but the lowest prices don’t always come with the exact coverage you need. Cheaper insurance for maritime businesses frequently don’t cover your boat and your employees in one policy. This leaves you with several pieces of paper and a large headache.

  • Choose commercial marine insurance by reputation


Lastly, you can always depend on a marine insurance firm with a good reputation behind them. A firm that has happy clients behind them, are much more likely to protect your interests than those that don’t. Search through reviews to find the best maritime insurances for your firm, and you should be able to find the best deal, near you.