If you are in the boat building industry, it is important to be sure that you have strong insurance coverage. After all, the process of constructing a yacht or other type of boat is complicated, and involves numerous potential hazards. While the industry is dynamic and rewarding, a simple mistake or incident can be devastating for a business.
With this in mind, read on to understand the importance of boat builders insurance.
What Does Boat Builders Insurance Cover?
The coverage specifics will depend on the scope and size of the operation of a given builder. But in general, you will want boat builders insurance coverage that sufficiently protects your business from claims of fault, as well as for incidents in the construction process.
Coverage may include:
- Various liability coverages to protect against fault, against visits to the boatyard, against pollution and other spills, and more
- Property coverage for equipment, materials, boats under construction, and more
- Coverage for sea trials
- Coverage for business interruptions
- Crime protection
Depending on where you are located and the specifics of your business, other insurance — like workers comp, for instance — may be needed. Speaking to an experienced insurer can help you feel confident that your protection is as strong as it should be.
