Not all marine construction businesses are alike, so they can’t all have the same insurance coverage if the industry is going to have what it needs as a whole. That’s why it’s worthwhile to look around until you find a carrier who can offer you the specific coverage you need for your niche in the profession. When you build yachts and other recreational vehicles for the consumer market, your coverage has to reflect the unique liabilities created by the ways your boats are used.
Coverage for Your Work and Third Party Liabilities
Like auto mechanics, builders, and other professionals whose services produce the infrastructure the rest of the country relies on on, boat builders are liable for both accidents caused by issues with their work and the injuries to third parties that occur.
As a result, your insurance needs to cover:
Your workshop and any assistants you work with
Damage to property as a result of negligence or substandard work
Injury to customers
Injury to third parties, like guests on your customers’ yachts
Insurers Who Understand Your Business
Finding the right insurer means more than just getting the best price for the coverage you need, it also means working with an underwriting team who understands your work and how it operates in the world. That allows you to get a policy that is more specific to the needs of the boat building industry, one that really says you are covered plainly in its language. Get your boat builders insurance today.