Building boats is your business, and you do it well. Whether large or small, your company’s reputation floats on hard work and fine craftsmanship. If profit margins are meager, nothing can be as devastating to your bottom line as dollars down the drain due to accidents, crime, natural disasters and litigation. Insurance for yacht builders is essential to keeping your company’s reputation intact and your bank account in the black.
Whether you’ve just launched your first yacht or you’ve been in the business for decades, insurance coverage is crucial. For example, damage to property such as your facility, equipment and boats under construction need to be covered. Liability insurance can protect your company against claims filed by clients or anyone outside of your company. Your employees are essential to your business, so make sure they are covered if they are involved in an accident. Catastrophic weather events often take place in the water or on the coast, so it would also be wise to insure against floods, hailstorms and wind damage as well.
For your insurance needs, choose a company that specializes in the marine industry. Nobody understands boats and boat lovers better than seasoned mariners who have seen it all, so select insurance for yacht builders carefully, and keep your business floating at the top.