Maritime insurance is for companies related to sailing on or doing business by sea. When you think of such companies, the first that come to mind are probably yacht clubs, boat dealerships, and manufacturers of marine vessels, parts, and accessories. However, it is meant for more than just recreational and manufacturing businesses. It also can cover marine repairers and surveyors.
For repairers, plans go beyond standard professional liability and property coverage. They also include different types of repairs, from electronics installation to boat detailing to sail repair. This trade comprises a broad range of detailed work, so your maritime insurance policy should as well, to ensure the most protection and customization. Surveying also encompasses a wide array of responsibilities. Surveyors inspect sea vessels, cargo, and facilities. Such a vital task requires the best protection, especially in the area of errors and omissions. In the event of a lawsuit, you need financial security to navigate rough legal waters. How much coverage to get depends on your level of risk exposure.
Whether youre in the recreational or commercial side of the marine industry, its necessary to be guarded against the risks and liabilities that come with working with the sea. You cant prevent every damage and hazard, but with maritime insurance, you can avoid having to suffer their full consequences.