Building yachts remains a unique and diverse trade. It also contains a number of specific and inherent risks, which may range in severity depending on a number of factors. Ensuring your business carries sufficient insurance — including yacht builder liability insurance — will help your company, your workers, and your clients all remain well-protected.
What Does Yacht Builder Insurance Cover?
The specifics of a yacht builder policy will depend on unique business details, including the types of craft you build and your location, among other factors. Components of a typical policy may include the following:
- Varied yacht builder liability coverage, including general liability and pollution liability coverage, ensuring you are protected in the event of any accident that occurs in the course of construction, including during sea trials
- Broad property coverage for your premises, repair station, equipment, and more
- Workers compensation coverage
- Extreme weather coverage, which may be tailored to your specific location
- Commercial automobile coverage
An experienced insurer may also be able to help you put into place policies that mitigate risk, including additional safety trainings for workers, more PPE for workers, or other structural improvements that make the construction process safer. Ultimately, speaking to an experienced insurer can help you develop a comprehensive policy that offers sufficient protection in the event an incident does occur.