Building a boat is a complex, intricate endeavor. Your customers are expecting a certain precision and quality when it comes to your craft. For this reason, manufacturing a boat or yacht is not typically a swift process. This means that any losses during the production phase can be crippling to a business. Whether your company is large or small, protecting against such events is essential.
Fundamentals of a Policy
Operating a boat manufacturing business in a shipyard presents a host of unique challenges that many land-based facilities don’t encounter. Besides the inherent perils, there are specialized tools and equipment that are used, and the environment itself can produce unfortunate circumstances. Insurance policies can often be tailored to meet the requirements needed based on the size of the company and the products produced. The knowledgeable specialists at https://www.marinersins.com explain that there can be several aspects to a boatyard insurance policy:
- General liability
- Pollution liability
- Crime and theft protection
- Commercial automotive coverage
- Insurance for sea trials
- Property insurance
- Coverage for environmental damage (wind, hail, flood)
Any boat building operation has the potential to encounter various risks than can be detrimental to business if not insured for adequately. Each of these can be mitigated by understanding the coverage options available in case the unexpected does occur.