Rental & Charter liability coverage can be defined as standard protection and indemnity forms issued in conjunction with Hull insurance policies on vessels excluding coverage on the use of a "Boat for Hire" or Charter insurance.  Under certain circumstances a P&I (Protection & Indemnity) form, broader in coverage than a standard general liability contract, may be issued to an owner or operator of such a vessel used for carrying passengers for sightseeing, fishing, transportation, entertainment or marine observations on a fee basis.  Coverage for liability also may be arranged on an OL&T (Owners, Landlords & Tenants) liability form with rates set in the specialty market at a surcharged rate.  Vessels under 40 feet in length are rated at 50% of those over 40 feet.  Coverage usually is subject to a deductible.  Liability exposure is of more concern to underwriters than loss or damage to the hull.  Restaurants and serving of alcoholic beverages are also principal hazards on larger vessels.

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