Operating a vessel can already involve a lot of moving parts, both figuratively and literally, so securing COFR insurance can sometimes slip off the radar. However, having a current Certificate of Financial Responsibility is legally required to ensure that you are capable of covering expenses in the event of a leak caused by your vessel. If this is your first time learning about COFR insurance, here are some common questions.

Who Needs Marine Pollution Coverage?

It’s important to double-check that you need pollution coverage before starting to shop around. Since COFR is aimed at vessels operating on United States waters, you’ll need insurance if you operate:

• A yacht
• A cargo ship
• A marina

While this is not an exhaustive list, the takeaway is that if you work in US waters, you should look into this unique type of insurance.

What Occurrences Are Covered Under Marine Pollution Policies?

The exact situations covered under the typical marine pollution policy can vary based on your insurance provider, but can vary widely. Typical occurrences you’ll be covered for can include civil or criminal penalties, property damage, loss of third-party profits, pollution cleanup efforts and more.

Before you can legally continue your vessel-related operations, it’s important to secure your Certificate of Financial Responsibility. For protections just in case something goes wrong, consider looking into COFR insurance.