If you are involved in recreational marine programs as a business person, you need insurance that caters to your unique industry. Most policies can be tailored to fit your specific needs.
- Boat dealers
- Marinas and yacht clubs
- Boat and yacht builders
- Ship repairers
- Marine manufacturers
- Manufacturing: parts and accessories
Even within each of the recreational marine programs, there are differing needs. Boat dealers are concerned with the physical loss to boats in inventory and damage to boats take as trade-ins. Marinas are concerned with liability for the boats under their care, custody and control.
Insurance protects you from a loss in the event of an accident, disaster or litigation. This allows you to rest assured and focus on your business. Property coverage might include theft, business income, inventory, builder’s risk, dock and piers, etc. Liability coverage comes in many different forms: ship repairers legal liability, pollution liability, hull coverage, umbrella and bumpershoot, etc. For your employees, you need workers compensation.
When deciding on an insurance policy for your business, sit down with a professional. Make sure your policy covers your unique requirements. Most insurers offer packages that can be further tailored by the individual. Take the time to research what is available. Providers are adept at calculating risks. You want to make sure your company is covered in the case of the unforeseen.