Help protect your fleet, crews, and day to day operations with commercial vessel insurance designed to address the unique risks of maritime businesses. Great American’s Ocean Marine team delivers comprehensive Hull and Protection & Indemnity (P&I) insurance solutions for coastwise and inland brown water vessels, helping vessel owners and operators manage risk with confidence.
Whether you are transporting cargo, carrying passengers, operating commercial fishing vessels, or managing a fleet of tugs and barges, our commercial vessel insurance solutions are built to safeguard your assets and support business continuity. From physical damage and machinery breakdowns to liability exposures such as crew injuries, passenger claims, and third party property damage, we help ensure your maritime operations remain protected and compliant.
Tailored Hull and P&I Coverage for Commercial Vessel Operations
Our commercial vessel insurance program offers flexible, customizable Hull and P&I coverage designed to keep your vessels operating safely and efficiently. Each policy is tailored to your operational profile, vessel type, and risk exposure. Our commercial vessel insurance coverage options include:
- Physical Damage Coverage
Financial protection for your vessel when it experiences accidental physical loss or damage. - Collision Liability
Coverage for liability arising from collisions with other vessels or fixed objects. - Machinery & Equipment Damage
Insurance for breakdown or damage to critical mechanical and operational components. - Excess Collision Liability
Additional limits for collision related liabilities beyond primary coverage.
Who Needs Protection & Indemnity (P&I) Coverage?
P&I coverage is a critical component of commercial vessel insurance, designed to address liability exposures that extend beyond physical damage. Our P&I solutions support a wide range of maritime operations, including:
- Commercial vessel owners and operators
- Tug and barge operators
- Marine transportation companies
- Excursion and charter businesses
- Marine contractors
- Boat and ship builders
Our experienced marine underwriting team works closely with clients to assess exposures and design policies that align with operational requirements and regulatory obligations.
Enhance Your Commercial Vessel Insurance Coverage
Strengthen your commercial vessel insurance program with optional enhancements that expand protection and support complex maritime operations:
- Limited Pollution Liability
- Bumbershoot / Excess Liability Options
- Crew Coverage Enhancements
- Navigation Extensions
- Towing and Assistance Coverage
- War Risks Coverage
- Cargo Legal Liability (when applicable)
- Debris Removal Coverage
- Entrusted Property / Property of Others
These enhancements help ensure your insurance program reflects the full scope of your operations—both on and off the water.
Who Needs Commercial Vessel Insurance?
Our commercial vessel insurance solutions are available for a wide range of working vessels, including:
- Tugs and push boats
- Barges of all types
- Commercial fishing vessels
- Dredges
- Sport fishing charter boats
- Ferries and head boats
- Research vessels
Commercial Vessel Insurance FAQ's
It's coverage for the boats and ships a business relies on to operate on the water. At Great American, that starts with Hull and Machinery protection, available on its own or combined with Protection & Indemnity (P&I), and responds to things like accidental damage to the vessel, breakdowns affecting essential machinery and equipment, sue and labor and liability when a collision occurs with other vessels. Because no two operations are alike, each policy is shaped around the individual vessel, the way it's used and the risks that come with that work.
Where Hull protects the vessel, P&I steps in for what an owner may owe to others, for example, injuries suffered by crew or claims raised by passengers, collision liabilities to fixed and floating objects, wreck removal, cargo legal liability and other liabilities. Great American can provide P&I together with a Hull program. It's designed for a broad slice of the maritime industry, including vessel owners and operators, tug and barge fleets, marine transportation firms, excursion and charter operators, marine contractors and companies that build boats and ships.
The Ocean Marine team focuses on vessels operating along U.S./Canada domestic coastwise and inland brown water routes. That covers towing and cargo work, a wide variety of tugs, push boats and barges, as well as passenger craft like ferries, head boats and sport fishing charter boats. It also extends to purpose-built working vessels such as dredges, commercial fishing boats and research vessels. Whatever the job (hauling cargo, carrying passengers, commercial fishing or running a tug-and-barge fleet) coverage is tailored to how the vessel operates.
NOTE: Yacht coverage, including professionally crewed yachts, is also available from our Luxury Yacht team. Please visit their product page for more information.
A commercial vessel program can be broadened to match a variety of everyday and unique operations, on the water and ashore. Higher liability limits are available through Bumbershoot and Excess Liability products. Exposures requiring pollution liability coverage can be addressed through our Pollution Liability product.
Start by submitting a completed application for the risk. You'll find the relevant forms in the Learn More section of this page. Each account is reviewed on its own merits by a centralized team of seasoned marine underwriters, with support from a claims group made up of maritime specialists.
The best place to start is a conversation about how your operation runs, your vessels, where and how they trade and the liabilities that come with the work. Because every account is underwritten individually, our team can look at your specific exposures and help identify any gaps between what you're carrying and what your operation really faces. Speak with our experienced marine underwriting and claims specialists today to make sure your program keeps pace with your business.
Providing complete and accurate submission information helps streamline the underwriting and quoting process. Key items include vessel schedules, current Condition & Valuation (C&V) surveys, operational details, navigation territories, crew qualifications and experience and recent loss runs. Additional information regarding vessel maintenance, ownership and intended operations may also be requested depending on the exposure. The more complete the submission, the more efficiently our Ocean Marine underwriters can evaluate the risk and provide tailored coverage recommendations.
A C&V survey is an inspection performed by a qualified marine surveyor to assess a vessel's overall condition, maintenance, seaworthiness and current market value. Depending on factors such as vessel age, type, operation and loss history, a current C&V survey may be required during the underwriting process. Survey information helps underwriters better understand the risk, identify any recommendations for improvement and determine appropriate terms and valuation for coverage.
Great American's Ocean Marine team combines specialized underwriting expertise with a deep understanding of the commercial marine industry. Each account is reviewed individually by experienced marine underwriters, allowing coverage to be tailored to the vessel, operation and unique exposures involved.
Whether a client needs Hull coverage or a package insurance program, Great American offers flexible solutions designed to meet a wide range of operational needs. Backed by maritime-focused claims professionals and a longstanding commitment to the commercial marine marketplace, Great American delivers knowledgeable service and customized coverage for vessel owners and operators across diverse segments of the industry.