Trade insurance has become popular because of its unique fit for businesses that have complex insurance needs. The marine industry is no exception. Insurance for boat repairers might seem like it applies to full shipyards at first, but the truth is that it is built to be flexible, so all sorts of repair-adjacent businesses can take advantage of it.
- Mobile repair professionals
- Canvas, sail, and rigging maintenance or replacement
- Hull repair, patching, and painting
- Carpentry onboard
- Electronic systems and equipment repair
- Engine work
If your business performs one or more of these services for customers, then you could benefit from boat repairers’ insurance.
Common Coverage Provisions
So, what does a policy look like when you build insurance for the boat repair industry? Each program is a little different, but they all cover a range of core policy areas this industry needs.
- General liability
- Professional liability including hull insurance
- Business interruption
- Tank pollution
- Physical damage
- Business risk and business interruption coverage
- Commercial auto, equipment, and owned watercraft coverages
- Crew and dock insurance
- Traveling workman coverage
- Excess liability insurance
There may be a few more coverage areas you need to take care of, depending on what else your business does, but your repair-related insurance needs should be well-handled if you seek out insurance for boat repairers. If you want to learn more, the next step is to request a quote from an insurance provider.