Property & Equipment Insurance

Protect Your Vessels, Equipment, & Marine Infrastructure

Property & Equipment Insurance is designed to protect businesses against financial loss arising from damage, theft, or destruction of physical assets, including buildings, vessels, machinery, and specialized equipment.

For marine businesses, these risks are heightened due to exposure to harsh marine environments, operational hazards, and the movement of equipment between sites. Having appropriate property and equipment coverage is essential to safeguard operations and maintain continuity.

What is Property & Equipment Insurance?

Property & Equipment Insurance provides cover for physical assets owned or used by a business. This can include buildings, equipment, tools, machinery, and sometimes leased or hired equipment. The policy can respond to perils such as fire, storm, flood, theft, accidental damage, and other risks relevant to marine businesses, ensuring operational continuity and financial protection.

A typical Property & Equipment Insurance policy can provide cover for:

  • Buildings and Structures:
    Coverage for damage to business premises, warehouses, and marine sheds caused by fire, storm, flood, or accidental damage.
  • Marine Equipment:
    Protection for specialized equipment such as cranes, slipway gear, and dockside machinery essential to marine operations.
  • Vessels and Boats:
    Covers accidental damage, fire, theft, or other insured perils impacting vessels owned or used by the business.
  • Stock and Materials:
    Protection for inventory, spare parts, and consumables against loss, damage, or theft.
  • Business Interruption:
    Optional coverage for loss of income due to property damage that disrupts normal operations.

Who is this type of insurance suitable for?

Marinas | Shipyards | Vessel Operators | Boat Builders & Repairers | Marine Service Providers | Coastal Contractors | Marine Maintenance Businesses | Offshore Support Operators | Slipway & Lift Operators | Cargo & Freight Companies | Vessel Hire & Charter

Benefits for Marine Businesses

  • Comprehensive Asset Protection:
    Safeguards buildings, equipment, and vessels against a wide range of risks to minimise operational disruption.
  • Operational Continuity:
    Helps maintain marine operations by mitigating financial impact from damage or loss of key assets.
  • Financial Security:
    Reduces unexpected repair or replacement costs, protecting cash flow and business stability.
  • Tailored to Marine Businesses:
    Coverage can be structured to suit marine industry risks including vessels, slipways, docks, and specialized equipment.
  • Expert Support:
    Access to insurance specialists familiar with marine operations to ensure claims are handled efficiently.

Speak to a Coverforce Marine specialist today.

Property & Equipment Insurance is essential for marine businesses that rely on physical assets to operate efficiently. It helps protect buildings, vessels, equipment, and stock from damage or loss while supporting operational continuity and financial stability.

For more information or to arrange cover, please contact us or simply fill out the quote form below and a broker will reach out within one business day to discuss your requirements.

Request a Quote

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