Marina liability insurance covers a variety of marine industry segments. Marine surveyors, marina operators, and boat builders and boat dealerships can all benefit by having this coverage in place. Operating in the marina industry involves a variety of property and liability risks that it’s important that you address. It’s your job to determine which exposures you face within your sector and purchase affordable business solutions that can help you to avoid costly claims that could bring financial ruin to your business.
Marinas are essential to this industry as they provide dock space, along with a host of other amenities and services. Many owners have a diverse amount of activities and often venture into hosting regattas, fishing tournaments, boat shows, watercraft rentals and charters. The type of services being provided, and the many duties they perform, often results in the likelihood that they may wind up incurring liability exposures.
In order to be a successful business person, you have to take certain risks. Every business owner has to deal with their own unique risks, and this may require them having their own special forms of coverage. Some specifically designed policies required by marina operators may not fit into the standard commercial property or liabilities forms. It’s important to understand what your policy pertains to, in the form of protection, so that you can properly cover these risks.
Insuring against all types of concerns
Depending on the number of years that you have been in business you may have been the victim of a theft, had acts of vandalism occur, or had someone involved in an accident that resulted in injuries. By having marina liability insurance you were able to have your insurer help to pay the costs associated with that incident without having to pay out-of-pocket expenses.
Marine protection is critical, and you may need special additional coverage if you sponsor club activities, or other events for members, like fundraisers or other special events. Marine insurance policies can cover everything from boats owned by clubs, to slips and moorings, to liability for club members and guests.
Make sure that you obtain proper coverage with a reputable and experienced marine insurance agency, someone that can use their expertise to deliver the right products for the right circumstances.