Ocean Marine Insurance
Shipwright Policy
Coverage Description
Obtaining an insurance program that effectively addresses both marine and non-marine exposures in a seamless fashion is a challenge faced by many smaller companies involved in boat maintenance and repair.
Travelers Shipwright Policy combines marine general liability, ship repairers' legal liability and miscellaneous property coverage in one policy.
A few of the coverages automatically included in the Shipwright Policy are:
- Marine general liability, including coverage for contractual liability, as well as products and completed operations liability
- Limits of $1 million per occurrence and $2 million aggregate
- Ship repairers legal liability
- $5,000 miscellaneous property coverage limit for tools/supplies
- Flat premiums no adjustments
- Low deductibles ($2,500 for MGL/SRLL and $1,000 for misc. property)
Optional features and enhancements include:
- Liability limits up to $5,000,000 (per occurrence and in the aggregate)
- Miscellaneous property limits up to $30,000
- Reduced MGL/SRLL deductible of $1,000
- Workboat coverage on an "All Risks" basis; also includes liability coverage (P&I)
Customer Profile
- Boat repairers and marine contractors with gross receipts up to $500,000