Owing and operating a marina can be a complex business with a unique set of insurance risks and liabilities that accompany things like simple boat building, yacht club activities and recreational water programs. By consulting with recreational marine insurance brokers, you can find out what protective coverage you need, as well as the areas most exposed to liabilities.
What Coverage Should Include
Because of the diversity of activities and operations occurring at your marina, you will not be able to take on a simple liability policy. In order to give yourself the best coverage, check on these three options.
Commercial Products: Among the specifics offered with commercial coverage, be sure to include both liability and property elements. Some of the commercial operations needing coverage could include boat dealer insurance, yacht broker, sailing school or boat yard insurance.
Watercraft Products: Enlist coverage solutions that would protect all manner of boats, luxury yachts and recreational watercraft vehicles.
Workers Comp Products: Of primary importance is the need to cover all those who are employed at your marina. Recreational marine insurance brokers can inform you of applicable state or federal compensations and coverage requirements, and this is not an area where you should skimp on expenses.
Maintaining comprehensive insurance coverage protect both your business, your financial investment and the relationships with your customers.