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Marine insurance
(redirected from Boat Insurance)

    Also found in: Encyclopedia, Wikipedia 0.40 sec.

MARINE INSURANCE, contracts. A contract by which one party, for a stipulated premium, undertakes to indemnify the other, against all perils or sea risks, to which his ship; freight or cargo, or some of them, may be exposed, during a certain voyage or fixed period of time. 1 Bouv. Inst. n. 1175, et seq. See Insurance Marine.
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It is intended to be used for expenses such as license fees, moorage fees, boat payments, boat insurance, safety equipment and related items.
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Program note: Sailors who participate in such courses often receive discounted rates for boat insurance.
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