The Hartford earned our top spot for the best small business insurer for marine companies due to its affordability and coverage. However, we recommend comparing quotes from our other top picks, including NEXT, biBerk and Simply Business.
Best Marine Business Insurance
Updated: July 8, 2025
Advertising & Editorial Disclosure
Key Takeaways
The Hartford is the best business insurance company for marine firms because it offers the greatest balance of customer service and affordability.
The cheapest overall commercial insurance varies by coverage type for marine businesses, with different providers offering the lowest rates for specific policy types.
To shop for business insurance for your marine business, assess the risks in your industry, consult agents and other similar organizations and compare multiple options.
Best Business Insurance for Marine Companies
| The Hartford | 96 | 98 | 91 |
| NEXT Insurance | 95 | 95 | 94 |
| biBERK | 92 | 94 | 91 |
| Simply Business | 91 | 92 | 83 |
| Coverdash | 90 | 92 | 83 |
| Progressive Commercial | 89 | 93 | 81 |
| Nationwide | 88 | 85 | 91 |
| Thimble | 88 | 92 | 81 |
| Hiscox | 87 | 89 | 87 |
| Chubb | 85 | 80 | 87 |
*All scores were based on a marine business with two employees across professional liability, general liability, workers' comp and BOP policies.
1. The Hartford
pros
Most affordable overall for marine companies
Extensive experience with over 200 years in the industry
Highest financial stability ratings
cons
Less affordable for workers' comp policies
COMPANY HIGHLIGHTS
The Hartford has secured the top position in our marine business insurance rankings, drawing on its impressive 200-year history in the insurance sector. For marine companies, the company delivers exceptional value with highly competitive rates across essential coverage types, including the lowest rates for professional liability insurance.
The Hartford's superior customer service distinguishes it from competitors, earning the highest ratings in our customer experience analysis from over 10,000 business owners across various industries. The company's A+ financial strength rating from AM Best, which leads our study, provides marine businesses with confidence that their claims will be processed reliably when coverage is most critical.
2. NEXT
pros
Best customer service experience
Reasonable rates for most coverage types
Large coverage selection
cons
Slower quote times than competition
Lower financial stability ratings
COMPANY HIGHLIGHTS
NEXT is the second best overall provider for marine business insurance, offering the second most affordable rates overall and earning the top spot for customer service in our analysis.
Despite having less than 10 years of experience, NEXT has earned a 4.7 out of 5.0 rating from over 3,000 customers. It also offers a strong variety of coverages with an online experience that is smooth.
3. biBerk
pros
Lowest rates for BOP and general liability insurance
Good financial stability ratings
cons
Online-only customer support with no phone representatives
Fewer available coverage options than competitors
COMPANY HIGHLIGHTS
biBerk stands out in the marine business insurance market through its streamlined approach to maritime coverage. The company offers the best rates for general liability insurance and BOP insurance, helping boat operators, marinas, and marine service businesses secure necessary coverage against industry-specific risks at manageable costs. Marine business owners appreciate biBerk's straightforward digital platform and transparent pricing, making it an appealing choice for companies that prioritize efficient processes and reliable insurance without administrative complexity.
Cheapest Business Insurance for Marine Firms
Based on our study of business insurance pricing, the cheapest marine business insurance varies by coverage type, with biBerk leading in general liability and BOP insurance, while other providers offer the lowest rates for workers' comp and professional liability.
However, this applies only to marine companies with two employees, and you may find lower rates elsewhere. Below are the most affordable providers by major coverage types.
Cheapest General Liability Insurance for Marine Companies
With an average monthly rate of $25, biBerk offers the lowest-cost general liability insurance for marine companies. Even so, consider getting quotes from the next-most-affordable insurers: The Hartford and NEXT.
| biBERK | $25 | $297 |
| The Hartford | $25 | $305 |
| NEXT Insurance | $26 | $306 |
| Coverdash | $27 | $328 |
| Simply Business | $27 | $328 |
| Progressive Commercial | $28 | $341 |
| Nationwide | $30 | $361 |
| Thimble | $30 | $364 |
| Hiscox | $31 | $373 |
| Chubb | $35 | $419 |
Cheapest Workers' Comp Insurance for Marine Companies
For marine businesses shopping for workers' comp insurance, Thimble tops our list as the most affordable insurer, with average rates of $64 per month or $773 yearly. However, you may find more affordable rates with Progressive Commercial, Hiscox, Simply Business and The Hartford.
| Thimble | $64 | $773 |
| Progressive Commercial | $69 | $834 |
| Hiscox | $72 | $864 |
| Simply Business | $72 | $861 |
| The Hartford | $73 | $877 |
| Coverdash | $74 | $884 |
| NEXT Insurance | $75 | $901 |
| biBERK | $76 | $910 |
| Nationwide | $81 | $971 |
| Chubb | $87 | $1,041 |
Cheapest Professional Liability Insurance for Marine Companies
The Hartford offers the most affordable professional liability insurance options for marine companies, with low average monthly rates of $78. You may also want to compare prices from other low-cost providers like NEXT, Progressive Commercial and Thimble.
| The Hartford | $78 | $937 |
| NEXT Insurance | $82 | $980 |
| Progressive Commercial | $83 | $1,000 |
| Hiscox | $87 | $1,047 |
| Thimble | $87 | $1,043 |
| Coverdash | $88 | $1,052 |
| Simply Business | $88 | $1,053 |
| biBERK | $90 | $1,084 |
| Nationwide | $95 | $1,140 |
| Chubb | $102 | $1,222 |
Cheapest BOP Insurance for Marine Companies
For marine companies looking for combined general liability and property insurance in a business owner's policy (BOP), biBerk offers the lowest average annual rate at $382. This is around $5 cheaper yearly than the next cheapest provider, The Hartford.
| biBERK | $32 | $382 |
| The Hartford | $32 | $387 |
| NEXT Insurance | $37 | $445 |
| Coverdash | $40 | $474 |
| Simply Business | $41 | $491 |
| Progressive Commercial | $42 | $508 |
| Nationwide | $46 | $547 |
| Hiscox | $47 | $561 |
| Thimble | $47 | $566 |
| Chubb | $52 | $623 |
What Type of Coverage Do You Need for a Marine Business?
Most companies with employees are legally required to carry workers' comp insurance, and businesses that use vehicles must have commercial auto coverage. Many clients or contracts also require businesses to carry general liability insurance before starting work. A surety bond may also be necessary in certain industries, especially when contracts require guarantees of service or compliance.
RECOMMENDED MARINE BUSINESS COVERAGE
General liability insurance is strongly recommended for marine companies because it covers common risks like bodily injury, property damage and legal defense costs. Professional liability insurance is also a smart option for businesses that work under client contracts or provide specialized services. This coverage is especially helpful for companies with specialized services or large contracts where disputes are more likely.
Coverage Recommendations by Marine Company Type
We've organized marine business types by risk level, starting with those most likely to face claims. Higher-risk businesses should consider more comprehensive coverage to protect against potential problems.
Marine Company Type | Coverage Types Recommendation | Most Common Insurance Claims | Most Common Reasons For Litigation |
|---|---|---|---|
Commercial Fishing Operations | Hull & Machinery, Protection & Indemnity (P&I), Commercial Fishing Vessel, General Liability, Workers' Comp, Jones Act Coverage, Commercial Auto, Catch/Cargo Insurance, Umbrella Policy ($5M+) | Vessel collisions and grounding, crew injuries from deck equipment, gear loss in storms, engine/mechanical breakdowns, slip/fall accidents on wet decks, fishing gear entanglement injuries | Jones Act crew injury lawsuits, vessel collision litigation, environmental damage from fuel spills, gear conflict disputes with other vessels, Coast Guard violation penalties, wrongful death claims from man overboard incidents |
Yacht/Boat Dealerships | General Liability, Garagekeepers, Dealers Open Lot, Hull Insurance for Inventory, Workers' Comp, Commercial Auto, Professional Liability, Cyber Liability, Umbrella Policy ($3M+) | Damage to customer boats during service, theft of boat inventory, slip/fall accidents at marina facilities, test drive accidents, employee injuries from boat lifting equipment | Customer boat damage lawsuits during service/storage, slip/fall injury claims at facilities, test drive accident litigation, warranty dispute lawsuits, cyber breach affecting customer financial data |
Marine Construction/Dredging | Hull & Machinery, General Liability, Contractors Pollution Liability, Workers' Comp (high limits), Jones Act Coverage, Commercial Auto, Professional Liability, Environmental Liability, Umbrella Policy ($25M+) | Equipment accidents on floating platforms, environmental contamination from dredging, crew injuries from heavy machinery, vessel groundings, pollution incidents during construction | Environmental contamination lawsuits, Jones Act crew injury suits, marine construction defect claims, regulatory violations (Corps of Engineers/EPA), neighboring property damage from dredging, wrongful death from maritime accidents |
Freight/Cargo Shipping | Hull & Machinery, Protection & Indemnity (P&I), Cargo Insurance, General Liability, Workers' Comp, Jones Act Coverage, Terminal Operators Liability, Cyber Liability, Umbrella Policy ($50M+) | Cargo damage from weather/rough seas, vessel mechanical breakdowns, port accidents during loading/unloading, crew injuries, piracy/theft incidents, container falls | Cargo damage class actions, vessel collision litigation, Jones Act crew lawsuits, port accident injury claims, environmental spill lawsuits, supply chain disruption disputes, cyber attacks affecting shipping logistics |
Marina/Harbor Operations | General Liability, Marina Operators Legal Liability, Workers' Comp, Commercial Auto, Fire/Lightning Coverage, Environmental Liability, Cyber Liability, Umbrella Policy ($10M+) | Slip/fall accidents on docks, fuel spills and environmental contamination, fires spreading between boats, damage to customer vessels in slips, employee injuries from dock equipment | Slip/fall injury lawsuits on wet docks, environmental contamination claims from fuel spills, customer boat damage litigation, fire damage spreading to multiple vessels, ADA compliance violation suits |
Offshore Oil/Gas Support | Hull & Machinery, Protection & Indemnity (P&I), General Liability, Workers' Comp (high limits), Jones Act Coverage, Pollution Liability, Professional Liability, Maritime Employers Liability, Umbrella Policy ($100M+) | Crew injuries from heavy equipment, vessel collisions with oil platforms, pollution incidents, mechanical failures in harsh conditions, helicopter deck accidents, dynamic positioning system failures | Jones Act crew injury and wrongful death suits, major pollution incident class actions, vessel collision with platform litigation, regulatory violations (MMS/Coast Guard), environmental damage lawsuits, helicopter accident wrongful death claims |
How to Get the Best Cheap Business Insurance for Your Marine Company
Here's how to find the best and cheapest insurance for your marine business.
- 1
Decide on coverage needs before buying
Consider risks specific to your business for claims, get advice from similar businesses, talk to agents and research the types of business insurance. This helps you understand what you actually need and avoid paying for coverage you don't.
- 2
Research costs
To ensure you get the best deal, research average costs for your business profile and determine which providers offer the cheapest rates overall. This helps you spot good deals and know which companies to contact first.
- 3
Look into company reputations and coverage options
Check what customers say on review sites and forums to get the real story about each company's service. Look into coverage options to make sure you're protected for what matters most to your business.
- 4
Compare multiple quotes through different means
Get quotes from multiple companies for the same coverage levels so you can compare prices fairly. Pricing differs by your comparison method, whether with captive agents, comparison sites, company websites or independent agents.
- 5
Reassess annually
Your business situation will change, influencing your rates and coverage needs. Repeat these steps annually to ensure you still have the best deal.
How to Decrease Your Marine Business's Liability Risk
Reducing risk in your marine business helps you avoid claims and keep insurance costs down. We've organized risk strategies by business type so you can find what works for your situation.
Marine Business Risk Type | Included Types of Marine Businesses | Risk Mitigation Tactics |
|---|---|---|
Highest | Commercial fishing operations, offshore oil/gas support, deep-sea salvage, hazardous cargo transport, passenger cruise operations, international shipping/freight |
|
Moderately high | Charter boat operations, marine construction, tugboat services, passenger ferry operations, marine surveying, diving services |
|
Moderate | Marina operations, boat repair/maintenance, yacht brokerage, marine supply retail, recreational fishing guides, sailing instruction |
|
Moderately low | Boat storage services, marine consulting, boat cleaning services, marine electronics installation, small boat rentals |
|
Lowest | Marine education/training, boat show services, marine insurance brokerage, maritime law consulting, marine market research |
|
Best Insurance for Marine Business: Bottom Line
The Hartford is the best insurer for marine business insurance, offering top overall ratings and competitive rates across multiple coverage types. We also recommend getting quotes from NEXT, biBerk and Simply Business. For the best deal, talk to agents, research providers and pricing and compare multiple quotes side by side.
Marine Business Insurance: FAQ
Below, we answer common questions about marine business insurance.
Who offers the best marine business insurance overall?
The Hartford offers top-rated marine business insurance with an outstanding customer service rating and an overall score of 96 out of 100. NEXT Insurance follows closely.
Who has the cheapest business insurance for marine companies?
Here are the most affordable business insurance options for marine companies by coverage type:
- General liability: biBerk, $25 monthly
- Workers' comp: Thimble, $64 monthly
- Professional liability: The Hartford, $78 monthly
- BOP insurance: biBerk, $32 monthly
What business insurance is required for marine organizations?
Workers' compensation insurance (if you have employees) and commercial auto insurance (if you own business vehicles) are required for marine businesses, with requirements varying by state. While not mandated by law, general liability insurance and surety bonds are typically needed by most commercial clients and property leases.
How much does marine business insurance cost?
Business insurance costs for marine businesses vary depending on the type of coverage. Below we've broken down costs for commonly needed coverage of small businesses:
- General liability: $28 per month
- Workers comp: $74 per month
- Professional liability: $88 per month
- BOP insurance: $42 per month
How We Chose the Best Marine Business Insurance
We selected the best business insurer for marine companies based on the following criteria:
- Affordability (50% of score): The lower a company's costs compared to the competition based on our base profile for four core coverage types, the better it performs.
- Customer service (30% of score): We scored providers on overall customer satisfaction using industry studies, customer review forum ratings and public forum sentiment analysis from sites like Reddit.
- Coverage (15% of score): We scored business insurance for this category based on the flexibility, payment and actual coverage options.
- Financial stability (5% of score): Using financial stability industry ratings from companies like AM Best and Moody's, we created an overall rating to judge how likely a company is to pay out claims compared to the competition.
All pricing in this article is based on the following base profile to represent the vast majority of small businesses in all states:
- Three-person business with two employees
- Coverage: $1 million per occurrence and $2 million total per year for all but BOP, which includes the same coverage plus $5,000 of business property coverage
- $150,000 in payroll
- $300,000 annual revenue
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
sources
- AM Best. "Hartford Fire Insurance Company." Accessed June 16, 2025.
- NEXT. "Customer Reviews." Accessed June 16, 2025.