Boat Manufacturer Insurance – Details Matter

Nov 19, 2018 | Boat Insurance, business marine insurance | 0 comments

Sailing boats in marina at sunset. Tivat. Montenegro

Every builder or manufacturer faces risk and liability, but with the right boat manufacturer insurance, you won’t have to worry about gaps or inadequate coverage.

At the same time, you don’t want to pay too much or over insure your business. A marine business insurance specialist who has expertise with boat manufacturer insurance can help you navigate the complexities of acquiring the right coverage for your manufacturing business. After all, boat manufacturing companies are not all the same. There are small artisanal operations, while others are large, high volume operations.

Other needs are universal. The need to protect your employees, your business, and your customers throughout the boat manufacturing process and afterward. Assessing the unique risks your business faces requires knowledge and experience. An experienced marine business insurance specialist will consider everything from what you build, the materials needed for production, your location, facility, employees, and customers.

Boat manufacturing requires property coverage to protect your facility and contents from fire, smoke damage, vandalism, theft, or natural disasters. Other considerations include business interruption and equipment breakdown coverage.

You will want to consider coverage not only during assembly but also when the boat is traveling to a boat dealer or client. You may also need extra coverage if you live in an earthquake area, for example, or you may want additional coverage to protect any inventory.

Liability is another consideration, from general to product liability (including pollution or during test trials). Excess liability marine bailee coverage (for builders who may also do side work repairing vessels for other clients) and workers compensation might also be advisable.

Ready to review your coverage needs? Contact the marine business specialists at Global Marine Insurance today.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Recent Articles

Spring Boating Checklist

Spring Boating Checklist

As the days grow longer and warmer, the allure of the open water beckons. Yet, preparing for a new boating season involves more than just dusting off your vessel and checking your insurance policy. Here's a comprehensive guide to ensure you're fully prepped for your...

Stray Electric Current Hazards

Stray Electric Current Hazards

Lethal stray electric current is a common risk that marina operators, boat builders, and yacht clubs need to take steps to prevent. This insidious threat can quickly pose a risk at marinas, which could lead to electric shock drowning. Aside from fatalities or bodily...

Boat & Yacht Sea Trials

Boat & Yacht Sea Trials

If you're considering buying a boat or yacht, it's highly recommended that you take it for a sea trial first. Why? Seeing a yacht while it's docked or in a showroom isn't the same as understanding its performance. A sea trial provides a perfect opportunity to...

Water Sports Towing Tips

Water Sports Towing Tips

How to Pull Skiers Safely Boat insurance coverage is important for protecting you against liability, but knowing how to pull skiers safely can greatly reduce the risk of injury for those in the boat, being towed, and on nearby boats. To ensure that everyone has a fun...

Maritime Workers Insurance Coverage

Maritime Workers Insurance Coverage

If you employ marine workers, it can be challenging to figure out what insurance you should invest in to ensure adequate coverage. There are two federal statutes governing compensation for marine injury claims: The Division of Longshore and Harbor Workers'...

Call Now Button