What it does
Piers, wharves, docks, bulkheads, pilings and retaining walls are Property Not Covered under the standard coverage forms unless added by endorsement, for example with CP 14 10 (Additional Covered Property). Once they are covered, CP 10 35 lets the insurer exclude a common source of damage: being struck by watercraft. The endorsement excludes loss or damage to retaining walls, bulkheads, pilings, piers, wharves and docks when struck by a watercraft.
Who sees it
Marinas and other waterfront owners that insure their dock structures under the commercial property policy. Underwriters may want boat impact handled as a liability matter between the boat owner and the dock owner, or insured under a marine form.
Quoting and selling notes
- Ask how boat strikes would be recovered, whether through the vessel owner's marine liability insurance or a marina operators or inland marine wharf form.
- Forms lists show 06 95 as the current edition for all states.
