Even if not a boat owner, one can understand the meticulous design and performance of a quality yacht or boat. With the hours of careful attention and labor going into each product, insuring the final result seems obvious. However, protecting this sea-worthy investment from the initial moments of construction is important as well. There are several reasons why insurance programs for boat builders are a good investment.
Just as with any business, there are certain liabilities surrounding your property and operations. The right policy will offer coverage for:
- Business Property/Buildings (including piers & docks)
- Business Income
- Mobile Equipment/Tools
- Builders Risk
- Docks and Piers
In addition to the exposure you face with property or equipment concerns, general and specific liabilities are also found in this industry. Some of the liability issues you may face deal with the following:
- General Liability
- Ship Repairers Legal Liability
- Pollution Liability
- Marina Operators Legal Liability
- Umbrella and Bumber shoot
- Directors and Officers
- Protection and Indemnity and Hull coverage
- Commercial Automobile Coverage
Offering workers’ compensation or coverage complying with the United States Long shore and Harbor Workers Act or Jones Act is another way to protect everyone involved.
Those working with your company to ensure the best in craftsmanship and performance are best protected when you look into insurance programs for boat builders.