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Choosing the Right Ocean Marine Insurance in Massachusetts

Massachusetts is one of many cities along the eastern shoreline. For any business that works over waterways or transports cargo from one place to another via ocean, seaways, etc., there is a need for a specific type of insurance that covers property, crew and even customers. Ocean Marine insurance in Massachusetts is a necessary and vital form of coverage for businesses operating in this manner.   For many businesses, from yachting and boating clubs, to cargo hauling vessels, the unique exposures and risks associated with doing business on the water, there are independent insurance agencies that serve enterprises of this type throughout Massachusetts and are available to help you develop a complete and comprehensive insurance program.   Marine insurance policies are offered based on the type of boat you own as well as what sort of business you use it for. For example, a boat hauling cargo has different insurance needs than a boat used for pleasure cruises. Before buying insurance you should do some research into what different types of policies are available.   Depending on the type of business, one or more of the following policies might be required or necessary, including marine liability, marine general liability, commercial umbrella/excess marine liability, ocean cargo, luxury yacht, custom cargo, commercial hull, protection and indemnity (P&I), builders risk for vessel construction, shipwright, marine property and casualty, and overseas coverage for U.S. companies with global exposures.   Buying ocean marine insurance in Massachusetts requires a little time and research. Ideally, you should try to get quotes from two or three different companies to help in making such an important business decision. Base any final decision on both price and coverage, as a cheaper priced policy may be significantly lacking in coverage. Also, be sure you speak to a specialist that understands the exposures involved in your business.