What is the Difference Between General Liability and Marine General Liability?

Posted April 4 2014


General Liability vs. Marine General Liability

 

All companies need protection from certain potential risks associated with operating a business that will provide coverage in an unfortunate event in which they are held accountable.  Broad-spectrum coverage for these risks is called General Liability insurance. General Liability insurance may protect your company and your interests against any of these unfortunate occurrences:   

  • Bodily injury;
  • Property damage;
  • Damage to premises;
  • Personal and Advertising injury – this protects your business against oral or written advertised slander, libel, or disparagement ;
  • Fire damage to the premises caused by the negligence of the insured.
When you carry General Liability insurance, the insurer may cover potential legal costs incurred by you, the insured, in the event of a legal claim or lawsuit. We live in a litigious society, making this type of coverage extremely necessary in the maritime industry. Marine General Liability is designed to protect against accidents or injuries that are associated with or have occurred on or around a waterfront, or in another marine setting. Marine General Liability policies provide coverage for the typical liability risks that businesses incur, which are covered in a standard General Liability policy, and may be written to offer additional, more specific protections that address the more unique needs and potential risks associated with maritime operation, such as:

  • Liability absorbed when renting or leasing a boat or watercraft. Protection includes property damage to the vessel, as well as pier damage;
  • Liability and hazards faced by marina operators, and includes property and structure damage protection;
  • Liability met by terminal operators against loss or damage of cargo;
  • Liability met by operators and owners of piers or wharves, covering damage to property of others while in their custody, including tugs, tows, cargo and equipment.
Marine General Liability coverage can be tailored to include employee benefits liability, international liability, stop-gap liability, and more.  It is essential to seek the advice and information from a trusted, knowledgeable broker, such as MHG Insurance Brokers. The team at MHG Insurance Brokers is well versed in the risks and coverage requirements of those who work in the industry. MHG Insurance Brokers works with you to determine your specific needs and budget, and will create a comprehensive liability package that will meet every one of those needs. 

Your MHG Insurance Brokers representative will also work to get you the best price and assurance that your interests and good name will be fully protected. MHG Insurance Brokers takes the job of helping you reduce your risk and protect your business very seriously.  With over 20 years of experience, you can feel confident and trust the expertise of our highly trained and educated brokers. 

It is our practice to assist you in translating complex terminology, clarify key features of the coverage you are considering, and help you assess and determine what your coverage requirements are. We apply our experience and take advantage of resources that we have built over the years to provide you with the best coverage from the most trusted insurers. 

Going beyond that, we remain your partner in protection, offering our services to help you with questions, information, and claims assistance if and when you need it – at any time. 

Contact MHG Insurance Brokers to learn more about Marine General Liability coverage, by calling 954-828-1819, or visit MHG Insurance Brokers online at: mhginsurance.com.  We look forward to being your partner in liability protection.