Marina Insurance Brokers Can Provide Excellent Coverage
As an agent, you know that purchasing insurance for a boat or yacht can be a bit more complex than insuring vehicles. Boats require specialized coverages, which includes a variety of items such as navigation limits, liability coverage, aftermarket product coverages and other factors that an experienced marina operator already understands.
Those new to these types of operations need to understand that this is a business that involves yachts and other sailing or motorized boating vessels and there’s a need to properly protect such large investments. Qualified marina insurance brokers aid their clients in purchasing marine insurance that provides for any and all circumstances they may be likely to come across.
Different types of coverage they’ll need to consider
There are so many risks and exposures faced when running a company that caters to a clientele that enjoys many different water-related activities. This includes such things as fishing, sailing or simply exploring different coastlines with caves and bays and all of the wonders of the oceans, so having the right policy in place will increase their level of comfort and that’s something that your clients should be entitled to enjoy as well.
Help owners understand that they can choose from a list of available products and services, including a real and personal property policy, one specific to a yacht dealer, and one for equipment, lifts, and tools. In addition, if they invest time in boat shows or exhibitions, operate a business that builds and sells owned watercraft, or need a policy for piers, wharves and docks, show them a list of agencies geared to help with any and all of these business lines.
There are obviously a lot of different options to choose from and not all boating companies are the same. Every owner needs to take into account which policies are relevant to the business they own and operate, and this may include any of the following:
- General liability
- Products completed operations liability
- Marina operators legal liability
- Protection and indemnity
- Ship repairers legal liability
- Commercial automobile
- Pollution, and
Coverage for employees is a vital necessity
In order to run their business properly they’re likely going to need quite a few employees. This means workers compensation insurance, depending on the number of full time employees in their care. Speaking on behalf of marina insurance brokers, you can help answer any questions pertaining to marina insurance coverage to facilitate any clients needs.