The Most Common Risk Exposures Faced by Marinas
Operating a marina comes with plenty of inherent risks. From potential oil spills polluting the environment to electrical fires from stationary boats, a Marine Insurance Program is a necessity to combat these potential dangers.
According to Worcester Polytechnic Institute (WPI), marinas and ports contain materials that can be harmful to the environment, including oil and paint for servicing boats, and hydrocarbons for fueling. Gasoline and oil are the most prevalent materials in marinas and can cause immense damage if not stored properly. The specific tanks should be equipped to contain the hazardous substances without leaking or spilling into the surrounding water. If a leak were to occur, local waterways and public bodies of water can become contaminated.
What’s more, ports and marinas are higher threats of causing environmental damage due to the huge quantity of dangerous chemicals and the sheer number of boats that require these materials.
Another risk for marinas is marina fires. The majority of these fires are stemmed from electrical malfunctions in boats. In addition, poor housekeeping, failure to inspect critical safety devices, unattended heaters, and smoking are all contributors to these fires, according to WPI. The best way to prevent these outbreaks is to understand the mechanics of the boat and to maintain it properly. Last not but not least, it is important to perform regular inspections and store boats appropriately.
Identifying critical safety hazards before they start is essential to maintaining marina safety. At Merrimac Marine Insurance, LLC, we are dedicated to your marina insurance needs. Our custom tailored programs are a reflection of our deep understanding of the unique risk exposures associated with the industry. For more information on the program that’s right for your clients, contact our experts today at (888) 344-1687.