Insurance Programs Through Boat Builders Insurance Wholesalers

Insurance Programs Through Boat Builders Insurance Wholesalers

Craftsmanship is one of the most important traits with regards to the boat building industry. Displaying a dedication to the quality and performance of the products they create and distribute, not only helps to establish your client as a leader in this complex and competitive industry, but it also helps to make our harbors and waterways safer and a more enjoyable experience for all who utilize the oceans and seas.

Your job, as a broker, is to help your clients with their insurance program. After all, you are the most capable person to assist them in partnering with a marine insurance leader that specializes in providing insurance for the recreational and commercial marine industries, which includes boat and yacht builders.

With the many challenges this industry sector faces with all of its regulations, bridled with the danger, risks and exposures that exist, only qualified boat builders insurance wholesalers can secure those quality insurance products that perform when it comes to responding to concerns as vessels are being built, to the time when they first hit the water.

Liability coverages

The list of liabilities in the marine industry runs long. Your clients need protection for property damage to watercraft in their care for purposes of repair, alterations, maintenance, storage and mooring, as well as hauling, launching and fueling. There are also liability concerns arising from third-party bodily injury, property damage, personal and advertising industry and contractual liability arising out of their operations.

You may want to turn the conversation to bumbershoot coverage, explaining to them how a marine umbrella policy works, providing coverage in excess of any marine policies in place, with a self-insured retention feature for uninsured marine perils. And Pollution insurance is another policy offered by boat builders insurance wholesalers that any conscientious marine craft builder knows they simply cannot afford to be without.

If they have employees, and most certainly do, they’re going to need workers compensation insurance, along with State Act, Jones Act, Maritime Employers Liability and US Longshoreman and Harbor Worker’s Compensation coverage. Other coverage may also be required in certain instances.