With more and more people getting on the water, and more people becoming boat owners, boat and yacht manufacturing is a growing industry. It is also a very unique industry, and business owners need to be aware of how to protect themselves and every facet of their business with the right boat builders insurance coverage.
All businesses need insurance, but a business that operates on land and water requires special consideration. Boat and yacht builders face challenges and potential problems that other business owners don't face. Their protection needs to cover them on land and extend offshore as well. There is a need to protect assets, personnel, various buildings, personal property, as well as docks and piers. A builder may also manufacture and sell marine accessories and make upgrades to existing vessels. This all needs to be taken into consideration. Their policy needs to cover general liabilities, but also requires taking into account things such as the below and more.
- Liability for pollution, marina operations and ship repair
- Property coverage of several types
- Commercial auto coverage
- Coverage for sea trials
A high-quality boat builders insurance policy will take all of the businesses needs into account. Make sure to deal with a company that understands, and has experience with the complexities of the marine industry.