Understanding Marine Liability Insurance: Coverage and Benefits

Nov 7, 2023

Marine liability insurance is a specialised insurance offering designed to provide comprehensive coverage and essential benefits for businesses operating in the maritime industry. These safeguards ensure that marine businesses can operate confidently, knowing they are shielded from financial setbacks due to accidents, injuries, property damage and regulatory challenges.

Explore the workings of how marine liability insurance works and how Trident Insurance can assist you in securing the protection you deserve. With our expertise and tailored coverage, you can navigate the complex waters of the marine industry with peace of mind, allowing your business to thrive in the face of potential risks and challenges.

Why marine liability insurance matters

From the risks of vessel operations and repairs to potential property damage and injury claims, the maritime industry is exposed to a broad spectrum of liabilities. Marine liability insurance is paramount for two key reasons:

Financial security: The cost of defending & settling liability claims – personal injury including medical expenses or property damage – can be substantial. Marine liability insurance offers financial security by covering these costs, helping businesses stay afloat during challenging times.

Legal protection: Marine liability insurance also provides coverage for legal costs in the defence of legal liability claims against the business. Without adequate coverage, businesses may face substantial legal costs even if successful in the defence. Additionally, the defence is handled by the insurers leaving you free to concentrate on your business.

Without the protection of marine liability insurance, businesses operating in the maritime industry could find themselves facing overwhelming financial settlements & legal expenses . In the absence of this crucial coverage, even a single unexpected or unforeseen incident could jeopardise the stability and future of your business.

What does marine liability insurance cover?

Trident Insurance Group can arrange marine liability insurance that offers a wide array of coverage sections to ensure that your marine business is adequately protected. Let’s delve into these coverage components in detail.

Public liability

This crucial aspect of marine liability insurance safeguards businesses against legal liabilities arising from personal injury or property damage linked to their marine-related operations. Whether it’s an occurrence at a marina, injuries during water-based activities or damage to third-party property caused by your operations, public liability coverage ensures that businesses are financially protected for their legal liability to others.

Product liability

Marine businesses often produce or distribute products related to their industry, such as boat parts, equipment or watercraft. However, these products can pose risks, leading to legal liabilities if they cause harm or damage. Trident Insurance Group offerings include Product Liability coverage, protecting marine businesses from the financial consequences of such incidents. This coverage ensures you can manage legal responsibilities without risking financial stability, enabling them to navigate the maritime industry confidently.

Advertising injury liability

In today’s economy, advertising will play a significant role in promoting your marine business. However, this also exposes you to risks related to advertising injury, including allegations of defamation, copyright infringement or unfair competition. Marine liability insurance includes comprehensive coverage for such claims, ensuring you are protected whilst promoting your business, including in the digital landscape.

Ship repairers’ liability

This coverage is designed to protect businesses and individuals engaged in the repair, maintenance or servicing of ships and watercraft. It seeks to safeguard against liabilities arising from occurrences, errors or damage that may arise during the repair process. It covers expenses related to damage to vessels under your care or control, third-party property damage, personal injuries, completed operations and legal defence costs.

Ship repairers’ liability insurance is indispensable for marine businesses and service providers, offering financial protection and peace of mind in the face of unexpected events while ensuring that maritime operations can continue smoothly. Trident Insurance can arrange covers where there is no vessel length limit and is suitable for people working fully or partly in the marine industry.

Goods in care, custody & control

Marine businesses often handle valuable property and customer’s vessels. Goods in care, custody & control coverage provides protection for customers’ property (including vessels) that you are working on. By partnering with Trident Insurance, you can have peace of mind knowing your coverage extends up to the limit of indemnity that you purchase. This coverage is particularly essential for businesses involved in marine services, vessel storage or transport, ensuring comprehensive protection for your customer’s valuable assets.

Removal of wreck

Wreck removal insurance covers the cost of removing a wrecked or sunken vessel or other property from a waterway. This coverage is essential for marine businesses and vessel owners as it helps manage the potentially significant expenses associated with removing and disposing of damaged or sunken vessels that pose navigational hazards or environmental risks.

Removal of wreck coverage typically includes the cost of salvage, cleanup and environmental remediation, ensuring that the responsible party can cover these expenses without bearing the financial burden. It helps protect waterways, the environment and the interests of marine stakeholders by facilitating the safe and timely removal of wrecks. With Trident Insurance, coverage extends up to the limit of indemnity that you purchase, thereby offering marine businesses peace of mind.

Statutory liability

In the maritime industry, adherence to regulations is paramount. Statutory liability coverage incorporates claims-made wording, covering fines and penalties resulting from claims received by the insured and reported during the insurance period. Trident Insurance obtains policies that provide coverage up to AUD $1,000,000.

Who are our customers?

Trident’s extensive expertise in marine liability insurance extends to a diverse array of marine clients across Perth and Australia. These clients span various sectors within the maritime industry, including:

Marina facilities: From small private marinas to large commercial ones, Trident provides tailored coverage solutions to protect marina operators from potential liabilities related to slip and fall occurrences, property damage or watercraft incidents.

Yacht clubs: Yacht clubs often host events and regattas. They require insurance coverage that addresses the unique risks associated with their operations, including on-water activities and club facilities and activities.

Marine detailers: Businesses specialising in marine detailing and maintenance will benefit from marine liability coverage, especially s they are dealing with valuable vessels and customer’s property.

Marine trimmers: Upholstery and trimming services in the marine industry are essential for boat owners. These businesses can face liability risks related to their work, making marine liability insurance an invaluable asset.

Marine mechanics & engineering: Marine repair shops and engineering firms involved in vessel maintenance and modifications require comprehensive coverage – Public Liability, Product Liability & Ship Repairers Liability to protect against potential occurrences or errors in their work.

Shipwrights: Shipwrights need insurance that covers their unique risks, such as potential defects in the construction of watercraft.

Marine electricians: Electricians operating in the marine sector are exposed to risks associated with electrical installations on vessels. Proper coverage is crucial to mitigate these risks.

Boat yards and stackers: Boat storage facilities, including boat yards and stackers, need legal liability coverage to protect against property damage to their customer’s vessels, that may arise during the course of their business.

Additional coverage for marine assets

In addition to marine liability coverage, Trident Insurance Group can provide property (material damage) coverage for marine assets that are often challenging to insure.

These assets may include:

Boat sheds: Structures housing boats and marine equipment are valuable assets that need protection against damage from weather, accidents or theft.

Wharves: Wharves are critical to marine operations and insurance coverage is essential to mitigate risks associated with damage or accidents to these structures.

Private jetties: Private jetty owners can protect their investments from potential damage or liability claims with tailored coverage.

Commercial jetties: Commercial jetty operators require specialised coverage to address the unique risks associated with their operations, including cargo handling and vessel interactions.

Community marinas: Community marinas are hubs of activity and insurance coverage is essential to protect against loss or damage to the marina infrastructure and legal liabilities related to slip and fall occurrences or property damage.

Commercial marinas: Commercial marinas, serving both recreational and commercial vessels, require comprehensive insurance to address the diverse risks associated with their operations.

Navigating maritime liability with Trident: your trusted insurance expert

Trident’s marine liability insurance expertise empowers marine businesses in Perth and beyond to navigate the intricate and sometimes treacherous waters of liability with confidence. With such extensive coverage, you & your business can rest assured that you are shielded against a wide range of liability risks inherent to the maritime industry.

Trident Insurance Group is your marine liability insurance expert. With over 29 years of experience, we specialise in providing tailored insurance solutions for maritime businesses. Our efficient claims process and access to a wide range of insurance companies, including the Steadfast Group, ensure comprehensive protection. We excel in risk management, helping minimise potential losses and offering expert guidance. Trust Trident for your marine liability insurance needs, where we keep premiums low, ensure prompt claims and simplify insurance for your maritime business.


Trident Insurance Group‘s marine expertise is your shield against financial and legal risks for maritime businesses. Without it, accidents and legal issues can be financially crippling. Our tailored coverage ensures peace of mind. Choose Trident for prompt, affordable and simplified marine liability, property damage or transit insurance. Contact us today to discuss how we can help secure your maritime business & its future.

Feel free to reach out to our insurance expert today for more information.