Marina named additional insured on policy requirement

[ziekman@cox.net]

Does your marina require this? Mine added it to the 2012 summer contract - I had not heard this term until now, and don't know what the impact is yet. If anyone has had experience, please advise. Thanks!

 

[tbirdvet]

Do you mean like your leander on your insurance? Why should they be insured on your policy? Never heard of this?

 

[ziekman@cox.net]

Not like a lender, in that they won't get paid benefits; rather, named additional insured (I think) means that my policy will cover them, in cases where I was negligent, eliminating the risk of others or me going after them.

 

[fwebster]

It is just a way for the marina to piggy back on your coverage. I think the liability and environmental coverage is about the only areas where there is a real benefit. Also, it shouldn't cost you anything, but if your insuror tries to charge you or gives you grief, you have a come back to the marina management.

 

[HUMPH]

This is standard from what I have seen as it is in construction. Everyone wants to be held harmless and more than anything it proves that you have insurance and when additionally insured they receive updates when your policy comes due or is renewed.

 

[skolbe]

All marinas require it in my area and the office building I lease for my business requires it.

 

[trit21]

I also believe that they can file a claim on your insurance if you boat/you cause any damage to their property. It is becoming a standard practice anymore especially if you a contractor and do work on other parties properties at all.

 

[mmcguire2002]

Agreed. I have had to do this at all 4 marinas where I have kept my boat.

 

[go-hokies]

After Isabel destroyed our marina, the slip agreement went from 2 pages to 12 pages... and yes it included this clause for the first time...

 

[ziekman@cox.net]

Thanks everyone - you have put me at ease!