Ideal Accounts and Target Equipment
This program is ideal for insureds who own or operate high-value marine and subsea equipment used in industries such as marine construction, offshore energy, oceanographic research, and diving operations. Coverage applies whether the equipment is in use, in transit, or in storage.
- Contractors Equipment
- Construction Equipment
- Oil Field Equipment
- Remotely Operated Vehicles (ROVs)
- On-vessel Fixed Equipment Not Covered by Hull Insurance (e.g. Cranes, Hyperbaric Chambers)
- Oceanographic Survey Equipment (excluding steamer operations)
- Trenchers and Ploughs
- Dive Bells
Coverage Highlights and Advantages
Key benefits of the program include:
- Worldwide comprehensive all-risks coverage for all owned or operated equipment
- New-for-old loss settlement for total losses
- Flexible underwriting and pricing based on usage and geographic location
- Automatic coverage for additional equipment during the policy period (up to 125% of the total sum insured)
- 24/7 protection while in storage, transit, onboard, or in operation
- Free wreck removal coverage up to USD $25,000 per loss and USD $200,000 aggregate annually (marine equipment)
- Free loss of revenue coverage following equipment damage or loss: up to USD $300,000 per loss and USD $1,000,000 aggregate (each account separately)
- No claims bonus available
Underwriting Requirements and Minimum Premiums
To obtain the best terms and a full underwriting review, the following documentation is required:
- Completed and signed ACORD application
- Detailed equipment schedule in Excel format
- Currently valued loss runs for the past 5 years
Minimum premiums vary depending on the size and nature of the risk.
Territories and Availability
This program is written on a non-admitted basis and is available in all 50 states, including Washington DC. Sloan Mason works with various carriers to deliver specialized solutions nationwide.
Why Work With Sloan Mason Insurance
As a wholesale broker with deep experience in complex and hard-to-place risks, Sloan Mason Insurance offers agents and brokers access to specialized marine insurance programs backed by flexible underwriting and responsive service. Their Marine and Subsea Equipment Insurance Program is built to address the unique risks faced by marine contractors, offshore operators, and subsea service providers.
If you have clients operating ROVs, dive systems, or oceanographic equipment—especially those working internationally or in challenging marine environments—this program is designed to offer the robust coverage they need.
Frequently Asked Questions
What types of accounts are a good fit for this program?
This program is well-suited for businesses that own or operate marine and subsea equipment, including contractors, offshore service providers, dive operations, and oceanographic research firms.
Is coverage available for equipment that is not onboard a vessel?
Yes, coverage applies whether the equipment is onboard a vessel, over-side, in transit, or in storage on land.
Are additional equipment acquisitions during the policy period covered?
Yes, the policy includes automatic coverage for additional equipment up to 125% of the total sum insured during the policy period.
Which states is this program available in?
The program is available in all 50 states and Washington DC on a non-admitted basis.
What documents are required to obtain a quote?
You’ll need a completed and signed ACORD application, a detailed equipment schedule in Excel format, and currently valued loss runs for the last five years.
Need help placing an account? Connect with a market specialist.