As U.S. boat dealers, marinas and boat-related industries gear up for the summer boating season, the Norman-Spencer Agency is launching First Marine, a new, A+ rated, nationally admitted property and casualty coverage product.
“First Marine is a new proprietary program available through Norman-Spencer’s Marine Insurance Division,” Norman-Spencer Agency president Brian Norman said. “We believe this is an ideal property and casualty coverage program for boat dealers, marinas, yacht brokers, boat rental and boat repair businesses.”
Covered under First Marine are boat dealer inventory; docks, piers and wharves; marina owners’ legal liability; protection and indemnity; owned watercraft; property, inland marine, crime, general liability, commercial auto; and umbrella.
First Marine provides coverage enhancements that include the personal use of boats in inventory by owners and officers, loaner boat coverage, dock debris removal to as much as $250,000, replacement cost or ACV options available for piers, wharves and docks, medical payments on P&I with no deductible and crew coverage available under P&I.
In addition, liquor liability, yacht club extension, engine hours E&O and limited sudden and accidental pollution are available.