If you’re involved in the boating industry, your business was most likely created out of your love of boats. You would probably like to spend the bulk of your time paying attention to the boats and boating side of your business and less to the financial and liability sides. However, it’s vitally important to have a plan in place to protect your business in the event that liability issues do crop up.
Today no business is immune from litigation. This point was driven home when Channel Islands Surfboards, the largest surfboard manufacturer had a lawsuit filed against them by a surfer who was injured while using one of their boards. He claims that the fin was too sharp and therefore resulted in an injury to his leg. Almost two years later, this lengthy and expensive legal situation continues it’s slow journey through the court system.
It may seem obvious that surfing is dangerous and coffee is hot, but that may not protect your company from a liability lawsuit. Regardless of the outcome, it’s easy to see how a lawsuit like the one facing Channel Islands Surfboards can have devastating financial effects on any business. That’s why proper planning with a marine insurance agency is so important, from water sport insurance, yacht club insurance, charter fleet insurance, passenger boat insurance and water ski school business insurance there are policies to cover all types of businesses in the boating industry.
How To Protect Your Business
The first place to look for information on liability coverage for schools, boat rental and charter companies, boat dealers and boat manufacturers is a trusted marine insurance company like Global Marine Insurance, the premiere marine insurance company. Talk to our representatives, explain your business to us and get quotes. Make sure you compare coverage limits and deductibles when comparing rates.
A comprehensive liability policy should protect you and your business from claims of negligence, breach of warranty, liability, personal injury and more. It’s time to stop worrying about liability issues and start enjoying your business.
Finally, don’t forget boat insurance. In order to eliminate as much financial risk as possible, if your business owns or operates any type of boat, you need proper marine insurance coverage. This way you’ll be able to focus your attention on your business and clients without having to continually worry about liability and potential damages.