Insurance is a vital purchase for anyone in manufacturing, but it is definitely not a one-size-fits-all product. While some forms of business insurance like general liability or property liability can easily adapt to practically any industry, the coverage for manufacturers needs to take a complex view of the risks involved in building the products they specialize in. That’s because there is a huge difference between the risks a yacht builder faces and one that a children’s toy or game manufacturer deals with. Boat manufacturer insurance needs to not only predict your third-party liability, but it also needs to take into account the realities of your unique workplace.
Merrimac Marine, an insurer specializing in all kinds of coverage for boats, yachts, and even commercial shipping and fishing vessels, outlines a few types of coverage policy for yacht builders needs to bring together:
Marina owners liability
Ship repairers liability
Business property coverage
Crime, business income, and inventory coverages
It’s not efficient to shop around for all the forms of coverage you need to operate as a yacht builder. It’s much easier to work with an industry leader who has chosen this niche and specialized in knowing how to build comprehensive policies that serve boat builders’ needs completely.