Marine Insurance of America

This is, as the name implies, coverage for the property over the water, whether floating or on pilings, inland or coastal. Piers, wharves, docks, slips, dry docks and marine railways are where many losses occur, especially on floating docks with roofs - wind & fire are major perils that can cause major losses in a hurry! Deductibles on docks are accordingly larger to reflect that fact. Dock coverage can be augmented with dock business interruption as well, and consideration should be given to the significant and often overlooked exposure of debris removal (the cost to clean up and remove material from the harbor after a claim).


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We request dock valuations, especially where replacement cost coverage is requested. It is a good practice for all parties in the insurance transaction: it assures the company is rating on an appropriate value for the asset, it functions to provide the best valuation to put the insured back in pre-loss condition after a claim, and it avoids possible coinsurance penalties or inadequate insurance settlement in the event of a claim. For this reason it is recommended and requested that the insured obtain an estimate of the replacement cost (or actual cash value) at least every three years because the costs of docks can change over time.