Overview of the Program
Our Marine Builders Risk Insurance program is designed for agents placing coverage for vessels under construction, refit, or undergoing pre-delivery operations. As a Managing General Agency and Excess & Surplus Lines broker, we provide flexible placements for single-vessel projects or ongoing builder operations. The policy can be tailored to cover the hull, materials, equipment and related property from the start of construction through final delivery to the client.
Ideal Accounts and Appetite
- Recreational and commercial vessels of all types, including yachts, workboats, fishing vessels, ferries, and specialty craft
- New construction projects by boatbuilders and shipyards—single contracts or programmatic builder's portfolios
- Refits, extensive repairs, and conversions where physical loss or damage exposure during construction or transit is the primary concern
- Accounts that require Protection & Indemnity cover for sea trials, demonstrations, and delivery movements
We typically write risks with substantial values—policy limits start at $5,000,000 and up. The program can accommodate complex hull values and multi-year builder operations when underwriting information is complete.
Coverage Highlights and Advantages
- Builders Risk Clauses that cover materials, equipment, and the vessel during construction, dockside storage, and while afloat where specified
- Protection & Indemnity coverage available for sea trials, demonstration runs, and delivery transits when required by the builder or purchaser
- Flexible placement options through admitted and non-admitted markets to match client needs and state requirements
- Access to multiple carriers (varies by submission) through our E&S relationships—enabling coverage for hard-to-place exposures
- Claims handling and loss control guidance geared to marine construction exposures
Underwriting Notes and Minimum Premiums
To quote effectively, provide complete construction specifications, hull plans, builder’s risk values, intended launch and delivery dates, description of sea trials or transit exposures, and information on yard operations and subcontractors. The program generally requires high-quality loss history and detailed schedule of values for complex or high-limit placements.
Minimum premium: $25,000. Final premium and terms depend on vessel value, scope of work, transit exposures, and the selected carrier appetite.
Appetite Restrictions (Typical)
- Preferred: professional yards and builders with documented procedures, experienced crews, and formal risk controls
- May be declined or require special terms for speculative construction without detailed plans, certain military contracts, or vessels expected to operate in high-risk war/piracy zones unless specifically negotiated
- High-hazard operations (e.g., heavy excavation adjacent to hull, unapproved design changes, or undocumented subcontractor work) will require tailored underwriting and may increase pricing or exclusions
Territories and Availability
Available across a broad footprint: AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, DC, WV, WI, WY. We place business in both admitted and non-admitted markets as required—please advise your preferred placement and any state-specific compliance needs when submitting.
Why Work With Us on Marine Builders Risk
- Specialized marine underwriting and E&S distribution that understands vessel construction and delivery exposures
- Flexible solutions for single-project risks or ongoing builder portfolios
- Access to varying carriers and terms—we can often place difficult or high-limit accounts other markets avoid
- Responsive submission intake and underwriting guidance to shorten quote cycles
Please contact us today for more information on our Marine Builders Risk program!
Frequently Asked Questions
What types of accounts are a good fit for this Marine Builders Risk program?
The program is best for boatyards, shipbuilders and owners building or refitting recreational and commercial vessels who need coverage for hull, materials and related property during construction, sea trials, and delivery. We write single-vessel contracts and builder’s ongoing operations with sufficient underwriting detail.
Does the policy include Protection & Indemnity for sea trials and delivery?
Yes. Protection & Indemnity for sea trials, demonstrations and delivery movements can be included when requested. Provide details about the planned trial area, crew, pilotage and route so the underwriter can evaluate transit liability exposures.
What minimum documentation is required with a submission?
At minimum, provide a schedule of values or estimated hull value, construction timeline, scope of work, location of building/launch, loss history, and details on subcontractors and yard controls. More complex or high-limit risks will require plans and additional technical data.
What is the minimum premium and how are limits handled?
The program’s minimum premium is $25,000. Policy limits typically start at $5,000,000 and are adjusted to match the vessel value and project exposure. Final premium is determined by vessel type, value, transit exposure, and carrier selection.
Are you able to place risks in admitted markets?
Yes. We work with admitted and non-admitted carriers across multiple markets. Tell us the preferred jurisdiction and any admitted requirement up front so we can target the appropriate carrier options.
Need help placing an account? Connect with a market specialist.