Maritime Bond Insurance
FMC bonds, customs bonds, charter boat bonds, and full marine insurance for Oregon maritime businesses.
Oregon's Maritime Bond & Marine Insurance Specialists
Oregon's maritime industry — from the Port of Portland to Brookings Harbor — requires specialized bonds and insurance to operate legally and protect against financial loss. Insure Pacific provides surety bonds for ocean freight forwarders, NVOCCs, customs brokers, and charter boat operators, alongside comprehensive marine insurance for commercial and recreational vessels.
Maritime Surety Bond Types
Different maritime operations require different bonds. Insure Pacific issues all major maritime surety bonds required by federal and Oregon state authorities.
FMC Ocean Freight Forwarder Bond
Required by the Federal Maritime Commission for all licensed Ocean Transportation Intermediaries (OTIs) acting as Ocean Freight Forwarders. Filed on FMC Form 48. Without this bond, the FMC will not issue or renew your OTI license.
NVOCC Surety Bond
Non-Vessel Operating Common Carriers (NVOCCs) must file a $75,000 surety bond (FMC Form 69) or equivalent financial instrument with the FMC. This bond protects shippers from financial harm if the NVOCC fails to fulfill its obligations.
Customs Broker Bond
U.S. Customs and Border Protection (CBP) requires licensed customs brokers to maintain a continuous bond (CBP Form 301). The minimum bond amount is $50,000 for individual filers; importers may also need activity-based bonds for specific entry types.
Charter Boat Deposit Bond
Oregon law requires charter boat operators who accept deposits to maintain a surety bond with the Oregon State Marine Board. This bond protects customers if the operator fails to provide the chartered service or refund deposits.
Boat Registration Agent Bond
Businesses authorized by the Oregon State Marine Board to process boat registrations must maintain a surety bond. The bond amount is set by the Marine Board based on the volume of transactions processed.
Marine Terminal Operator Bond
Port authorities and marine terminal operators may be required to maintain surety bonds as a condition of their operating agreements or permits. Bond amounts are set by the port authority or regulatory body.
Marine Insurance Coverage
Beyond surety bonds, Oregon maritime businesses need marine insurance to protect vessels, cargo, and third-party liability. Insure Pacific works with specialty marine carriers to provide comprehensive coverage for commercial fishing, charter operations, cargo transport, and recreational boating.
Bond vs. Insurance: Understanding the Difference
Many maritime businesses confuse surety bonds with insurance — they serve very different purposes. A surety bond is a financial guarantee to a third party (regulator, customer, or government agency) that you will fulfill a legal obligation. If you fail, the surety pays the claim and then seeks reimbursement from you.
Marine insurance, by contrast, protects you from accidental losses — cargo damage, vessel damage, or third-party liability from accidents. Most maritime operations need both: bonds for regulatory compliance and insurance for risk transfer.
Operating without the required FMC or CBP bond can result in immediate license revocation and significant financial penalties. Insure Pacific ensures you stay compliant.
Why Choose Insure Pacific for Maritime Bonds?
Maritime bond requirements are complex and constantly evolving. Our specialists stay current with FMC, CBP, and Oregon Marine Board requirements to ensure your bonds are properly filed and your coverage is always in force. We work with A-rated surety companies to provide fast, competitively priced bonds for Oregon's maritime industry.
- Surety bond specialists — fast issuance, often same-day
- FMC, CBP, and Oregon Marine Board bond expertise
- Marine insurance for commercial and recreational vessels
- Independent agency — we compare multiple bond markets
- Oregon-based agents familiar with Pacific Coast maritime operations
- Bundled programs: bonds + marine cargo + hull + P&I
Get a Maritime Bond Quote Today
Tell us about your maritime operation — type of business, required bond type and amount, and any existing coverage — and we'll provide a fast, competitive quote. Same-day bond issuance available for most applicants.
Get a Maritime Bond QuoteMaritime Bond Insurance FAQ
What is a maritime bond?
A maritime bond (also called a marine surety bond) is a financial guarantee required by federal or state authorities for businesses operating in maritime commerce. Common types include customs bonds (for importers), FMC bonds (for ocean freight forwarders and NVOCCs), and charter boat bonds. The bond protects the obligee if the principal fails to meet their legal or financial obligations.
What is an FMC bond for ocean freight forwarders?
The Federal Maritime Commission (FMC) requires all licensed Ocean Freight Forwarders and Non-Vessel Operating Common Carriers (NVOCCs) to maintain a $75,000 surety bond (FMC-48 or FMC-69). This bond protects shippers from financial harm if the forwarder or NVOCC fails to perform their obligations. Without this bond, the FMC will not issue or renew your operating license.
How much does a maritime bond cost in Oregon?
Maritime bond costs depend on the bond type and amount, and your credit profile. Most applicants pay 1%–3% of the bond amount annually. For example, a $75,000 FMC bond typically costs $750–$2,250 per year. Charter boat deposit bonds and registration agent bonds are much smaller and may cost $50–$200 per year.
Does maritime insurance cover the same things as a maritime bond?
No. Maritime insurance (such as hull insurance, P&I, or cargo insurance) protects against accidental losses — damage to vessels, cargo, or third-party liability from accidents. A maritime bond is a financial guarantee that you will fulfill a legal or contractual obligation. Both are often required: insurance for risk transfer, bonds for regulatory compliance.
Get in Touch
Ready to protect what matters most? Contact us today for a no-obligation insurance review. Our experienced agents are here to help you find the right coverage for your needs.
Monica
Insurance Specialist
Hi there! 👋
I'm the AI version of Monica here at Insure Pacific!
Ask me anything about insurance — home, auto, farm, commercial, wildfire, and more. I can answer your questions directly or connect you with one of our agents.