Companies that make goods for a professional or consumer market have many needs in common, which is why many manufacturers go for industry-specific insurance. What they often miss when planning this trajectory is that manufacturing is not just one industry. The needs of an assembly plant are not the same as those of a fabrication facility, and the medium matters as well. Metal and plastic have different avenues of risk and needs. That’s not all, though. Food manufacturing is another form that is distinctly different from the creation of consumer goods. That’s why companies that build boats and other marine equipment need coverage that reflects their business and its priorities.
Third Party Liability for Marine Manufacturers
Marine businesses have unique third party liabilities, especially manufacturers who make watercraft or safety equipment. Industry specialists like Merrimac Marine Insurance Programs build policies around these unique needs, so you know that you’re not just getting specialized manufacturing coverage. You’re getting specialized marine manufacturing coverage, which includes the risks marine businesses face as well as those manufacturers do, with extra provisions for the unique needs of companies dealing with both. That makes the policy better suited to your business model and most cost-effective than shopping several policies with broadly overlapping provisions in some areas just to get the extra coverage you need in others.