Ocean Marine

The following outlines the coverages, exclusions and specifications of the Ocean Marine Insurance policy. The vessels and equipment covered under this policy is specifically excluded under the State Property policy. Please note that that some of the additional coverages have sub-limits and the information provided is only a summary of the benefits; the actual policy will govern. If your department, division, unit, etc. is interested in signing up for this insurance, please complete the below excel spreadsheet with your Vessel information. An example highlighted in yellow is shown on the spreadsheet. If you have any questions, please contact Risk Management.

Ocean Marine Schedule


  • Hull:physical loss of or damage to vessel(s) caused by theft, pilferage, flood, cloudburst, tidal action, water current, rising water, ice, freezing, rain or other storm and/or tempest, tornado or windstorm, landslide, falling object, listing, upset, miring down, capsizing, overturn, looting; and blowout or catering.
  • Land Transit:physical loss of or damage to vessel(s), while in transit by land within Florida, including while being loaded and unloaded, but only for the following causes: fire; lightning; explosion; windstorm; hail; tornado; collision with another vehicle or object; overturn of transporting conveyance; collapse of bridge, wharf, dock, platform or culvert; stranding, sinking or burning; flood; theft; vandalism; strikes; riots and civil commotion; improper stowage.
  • Protection & Indemnity (P&I):indemnifies the University and in turn the department, division, unit, etc. who owns the vessel, for any sums it becomes legally liable to pay for bodily injury or illness, including death, and property damage.
  • Collision Liability:P&I extends to liability resulting from a collision.
  • Cargo Liability:P&I extends to liability for loss to cargo, which includes baggage and personal effects of passengers on board, carried, to be carried or which have been carried on the vessel.

Coverage Territory

  • Each vessel is covered only for the Navigational Code selected and reported to the insurance company. Below is the Navigational Schedule.

Navigational Schedule

Covered Property and Individuals

  • Vessel:shall include the hull, launches, lifeboats, rafts, furniture, bunkers, stores, supplies, tackle, fittings, equipment, apparatus, machinery, boilers, refrigerating machinery, insulation, motor generators and other electrical equipment owned by the University; and leased equipment and apparatus install for use on the vessel which the University has assumed liability.
  • Crew:includes University staff, faculty and others reported to the insurance company for coverage.

Additional Coverages

  • Inchmaree:loss of or damage to vessel directly caused by the following: accidents loading, discharging or handling cargo or in bunkering; accidents going on or off, or while on drydock, graving docks, ways, or pontoons; explosion; breakdown of motor generators or other electrical machinery; breakdown of or accident to nuclear installations or reactors not on board; and contact with aircraft, rockets or similar missiles or with any land conveyance.
  • Deliberate Damage:cost of damage or loss to the vessel caused by governmental authorities acting for the public welfare to prevent or mitigate a pollution hazard.
  • General Average:cost sustained from voluntary sacrifice to save the vessel or crew
  • Sue and Labor:cost to protect the vessel from further damage once a loss has occurred.
  • Automatic Acquisition:newly acquired or purchased vessels, if reported within 60 days.
  • Strikes, Riots and Civil Commotion:damage to or destruction of property caused directly by: strikers, locked out workmen or persons taking part in labor disturbances; riots or civil commotion; vandalism, sabotage or malicious mischief.

Exclusions – All Coverages

  • Radioactive contamination; chemical, biological, bio-chemical and electromagnetic materials; U.S. economic and trade sanctions; terrorism; and pollution, which includes discharge or leakage of oil, petroleum products, chemicals or other substances into the seas, water, land or air.

Exclusions – Specific to P&I

  • Divers and diver’s assistants while engaged in diving operations from the vessel(s); punitive damages or exemplary damages designed to punish because of the willful nature of the wrongdoing; medical payments to the crew of the vessel due to illness; liability arising out of the sales, serving and/or consumption of food and/or beverages; precious stones, metals, jewelry, furs, bank notes or bonds; mail or parcel post; and liability under contract.


  • Hull & Land Transit:Variable, minimum $1,000
  • Protection & Indemnity:Variable, minimum $5,000


  • Agreed Value:amount reported to and approved by insurance company, if Total Loss; otherwise the cost to repair.


  • Annually:Variable (based on the type and value of vessel, navigation code, crew members, and requested limits and deductibles) plus 5% admin fee.


Insurance Policies

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