Throughout our 130 year history in Annapolis, Maryland, the Henry Murray Agency has established a high level of expertise in the marine industry. We offer a broad range of coverage for commercial marinas, charterers, harbors, ship builders and other businesses in the marine industry. As an independent insurance agency, we have relationships with multiple carriers, giving you the most choice and flexibility.
Marine General Liability
Marine General Liability is a commercial liability insurance policy that covers basic liability risk and exposures. Various general liability coverage options are available and typically include: protection against third-party bodily injury, property damage, contractual liability, and coverage for employees.
Marine Property Insurance may cover:
- Direct losses for property that is lost, stolen, damaged or destroyed
- Indirect or consequential losses related to direct losses
General Liability Insurance may cover:
- Premises and Operation
- Fire Damage Liability
- Personal and Advertising Injury
- Medical Payments
- Products/Completed Operations
Other types of coverage for Marine Businesses include Owners Liability and Commercial Umbrella Policies.
Marine Operators Legal Liability Insurance
Marine Operators Legal Liability or MOLL, is an insurance policy written to cover the marina owners legal liabilities with the exposure to damage to third party vessels and property in your care, custody or control for the following purposes:
- Fueling or Miscellaneous Service
- Repairs, Alteration or Maintenance
- Land or Float Storage and Docking
- Hauling or Launching from the Marina
Boat and Yacht Dealer's Insurance
We also offer a variety of insurance products for boat and yacht dealerships:
- Commercial General Liability
- Protection and Indemnity
- Boat Dealership Inventory
- Property Insurance
- Electronic Data Processing
- Auto Liability
- Errors & Omissions
- Truth in Lending
Protection and Indemnity Insurnace
Protection and Indemnity (P&I) insurance is liability coverage for watercraft. It protects the insured from liabilities, from bodily injury, or property damage arising out of the use, or ownership of declared vessels. There are several commonly used protection and indemnity forms and many proprietary forms used for this insurance. Most P&I forms offer payments for loss of life, injury, illness, hospital, and medical expenses.
The typical P&I policy covers:
- Loss of life, injury and sickness of crew, passengers and third parties, except for liabilities under statutory compensation acts such as USL&H, Jones Act or state Workers' Compensation
- Damage to cargo on board the vessel
- Damage to piers, docks, jetties and other fixed floating objects
- Wreck removal costs
- Collision liability
USL&H is a Federal act (sometimes referred to as the Longshore Harbor Workers' Compensation Act - LHWCA) designed to provide compensation to an employee if an injury or death occurs upon navigable waters of the US - including any adjoining pier, wharf, dry dock, terminal, building-way, marine railway or other adjoining area customarily used by an employer in loading, unloading, repairing, dismantling or building a vessel.
This law was originally enacted to protect workers engaged in stevedoring and ship building operations, but, through suits and case law, has been expanded to encompass nearly any employee or company whose work takes them on "navigable waters" - marine contractors, diving contractors, service companies supplying equipment "on the water" and ship repair operations.
Cost & Comparison of Marine Business Insurance
At Henry M. Murray Agency, we do all the work by shopping your insurance coverages with several "A" rated insurance companies. Then we'll help you compare products and choose the one that meets your needs and offers the best value.
Discounts on Marine Insurance
Henry Murray has several new insurance programs including the Clean Marina Program, which gives you a 10% discount on your General Liability and Marine Operators Liability premiums. We also offer a 5% discount for members of the Maryland Marine Trade.
Call For a Review
Let us take a look at your insurance policy and help you determine if you're getting the right coverage for the right price. This is a no-obligation consultation. Contact us at 410.417.6505 or request a quote online.