Businesses that operate in and around large bodies of water often have different insurance requirements than other industries. For example, these organizations often need to remain aware of their liability with pollution and other exposures. While a standard insurance policy might cover basic risks, not all will include industry-specific factors. To stay fully protected at all times, you must research a comprehensive policy that includes a variety of common and unusual risks related to your line of work.
Explore Practical Protection
As stated by experts of the industry, non-vessel owners insurance is one of the more practical options available to business owners. This policy takes a number of variables into consideration in order to provide ample coverage against several common risks. Dock owners and businesses that rent or repair vessels often require this level of insurance in order to stay protected. Additional organizations that can benefit from this type of policy include:
- Line handlers and crane operators
- Contractors for electrical work and dredge jobs
- Stevedores and fleeters
Avoid Serious Losses
Insurance that doesn’t cover all potential risks in an industry can create gaps that leave an organization open to serious legal and financial struggles. Stay mindful of the threats that face your business and it can help you make an informed decision on what policy will provide sensible coverage.