Nova Scotia Commercial Marine Insurance

Commercial boat insurance for marine businesses in Nova Scotia

With our extensive knowledge of marine related insurance, we provide competitive tailored coverage with a full product offering for all things marine. This includes everything from fishing vessels, tour boats, yacht clubs, marinas, cargo and marine contractors/ship repairer’s liability. When you hit the open water, you can have peace of mind you are properly protected.

Acera Insurance is one of the largest independent and employee-owned insurance brokers in Canada with a presence in Nova Scotia. This means we can leverage our local expertise, in combination with our market access and resources, to offer you the best value on your marine commercial insurance. Whether you are looking for catch insurance to cover your commercial fishing operation or marine cargo coverage to protect your import and export business, you are in good hands with our team.

Get a commercial marine insurance quote online, by phone or in-person with Acera Insurance.

Securing competitive commercial marine insurance for your business needs

To find the best marine insurance for your business operations, you need the help of a knowledgeable and specialized advisor. Our commercial boat insurance brokers in Nova Scotia have many years of experiencing working within the marine industry. With a marine expert on your side, who understands the risks and losses, you can be certain that your insurance will help you weather any storm.

We offer marine insurance to a variety of different business types including:

At Acera Insurance, we help you navigate the world of insurance. This includes finding the best insurance to meet your operational needs.

Nova Scotia commercial marine insurance coverages

Commercial boat insurance is a type of insurance designed to offer protection for businesses with operations on water, whether this includes rivers, lakes or the ocean. Similar to a personal boat insurance policy, your commercial boat or marine insurance will be based on your specific needs. A commercial marine policy will typically include coverage which protects the ship, the people on the ship, products on the ship and the operations of the ship.

Here are some of the most common forms of coverage, applicable to commercial marine vessels:

• Hull Coverage – provides coverage for the physical hull of your vessel and often includes permanently attached and unattached equipment as well. It also includes property damage to another operator’s vessel in the event of an insured incident. Examples of insured events covered through your hull insurance include collision, severe weather, piracy, fire and more. This coverage can be provided at replacement cost or actual cash value.
• Marine Liability Insurance – also referred to as protection and indemnity coverage. Offers financial protection from third-party bodily injuries or property damage. If someone injuries themselves on your commercial vessel, it covers the costs associated with their medical and rehabilitation treatments.
• Marine Cargo – covers the cargo transported on a commercial vessel. Protection on the transportation of goods starts once the products are loaded and continues through delivery until the items reach their intended destination.
• Pollution Liability Coverage – this coverage protects you from the fines associated with accidental pollution and the costs associated with cleaning up the materials. It can also cover expenses associated with the retrieval and disposing of wreckage if your vessel was severely damaged and unsalvageable.

Other coverages are available based on your specific industry and operations. For example, commercial fishing vessels would benefit from net and gear coverage to protect their equipment, as well as catch coverage to allow them to recoup revenue if catch is lost due to an insured event. Chartered boats on the other hand will require liquor liability if they serve alcohol onboard their vessel. This would cover them in the event an inebriated guest damages the boat or accidentally hurts another passenger.

We support a wide range of marine industries with customized insurance options, including:

Factors influencing the cost of commercial boat insurance in Nova Scotia

Insurance companies calculate rates on the likelihood of a claim and the cost of repairs. Each insurer calculates its rates a bit differently, but many are based on the same determining factors.

Here are common factors that impact your commercial marine insurance rates in Nova Scotia: 

• The type of vessel. 
• The length of the vessel.
• The age of the vessel.
• The construction material of your vessel.
• The value of your vessel (market or agreed value or purchase price if it’s newer).
• Where your vessel will be stored or moored. 
• Where you’ll be using your vessel (lakes, ocean, in the province only, elsewhere). 
• The intended use of your vessel and activities conducted on board your vessel.
• Your insurance options.
• Your insurance history. 
• Available discounts. 

To get a free, detailed marine commercial insurance quote, contact one of our local advisors.

Why work with a commercial marine insurance advisor in Nova Scotia?

Here are five ways our Nova Scotia marine insurance experts ensure smooth sailing for our vessel owners and clients.

• Custom coverage to navigate your waters. Just like each vessel has a unique course, a dedicated broker tailors coverage to fit your specific business requirements.
• Deep industry expertise – no shallow understanding. Our marine insurance specialists know the tides of the industry. We stay informed on the latest developments, so we can make sure you are always properly protected.
• Claims assistance that keeps you afloat. When stormy situations arise, your broker is your lifeline. We help you weather claims efficiently without capsizing your day-to-day operations.
• Proactive risk management to stay off the rocks. Experienced commercial brokers can help you identify the most common risks and offer sound advice to help avoid preventable claims.
• Competitive premiums that are a steal. With access to multiple carriers and an understanding of your unique needs, you can be certain you are getting the best value for your money when it comes to your commercial marine insurance.