Comprehensive business insurance policies are a great way to reduce the time and energy you spend shopping for coverage while making it easier to be sure you haven’t missed any important areas of risk. You can buy your general liability, property protection, extended third party liability, and other policy types individually if you really want to, but insurers that write one-size-fits-all policies in those areas don’t know your business like industry-specific insurers do. They also don’t have the ability to tailor the coverage to work smoothly with all your other policies because they don’t have those policies on hand. Boat builders insurance policies combine all your coverage needs to protect your business with one policy.
Liability, Business Assets, Employee Protection & More
When you build or repair boats and yachts, you’re taking on work that profoundly impacts the safety of your customers and, for charters, their customers as well. That makes third-party coverage important, but that’s not the whole picture. Most boat builders also need:
- Builder’s risk insurance specifically for boat construction
- Insurance against crime and theft, including cybercrime
- Business property and asset insurance that includes docks, boats, and buildings
- Commercial vehicle coverage for any company-owned boats, trucks, or other vehicles
- Ship repair and marina operator liability coverage
There are a lot more areas covered by boat builders insurance if you keep digging, but these are some of the most important and industry-specific provisions you’ll find in a good comprehensive business policy aimed at companies that build yachts and boats.