Marinas

At Sprezzatura Insurance we believe that according to traditional insurance practices, the level of exposures and risks for marinas are as follows:

Level of Risk Per-Line of Business: Low, Medium & High.

• Automobile Liability: Low.
• General Liability: Premises and Operations: Medium
• Product Liability and Completed Operations: Medium, due to boat repairs if applicable to client’s ongoing operations.
• Environmental Impairment Liability: Low, however the could significantly be much higher if insured has any pump-out service as part of their ongoing operations.
• Workers Compensation: Medium.
• Crime: Medium
• Fire and E.C.: Property- Medium- Accidents may cause heavy damage to vehicles and personal property
• Business Interruption: Medium. Marina Owners may suffer a significant loss due to the fact that they are highly dependent on their actual locations. Finding or Replacing, it is almost impossible due to the fact that most Marinas are located in/along the coastal waters.
• Inland Marine: Medium
• Boiler and Machinery: Medium.

Based on ISO, AM Best, and others; recommended class codes for Marinas are:

Standard Industrial Classification Manual (SIC) Codes and Classifications

• 2452 - Prefabricated Wood Buildings and Components
• 4493 - Marinas