There are some key challenges the marine industry must deal with year in and year out. The biggest challenge they may be currently facing is finding qualified, motivated technicians to make sure that individual businesses, as well as the industry as a whole, are supporting all of the current programs that are in place to train workers, such as vocational schools. The marine industry is a great way to make a living, offering good quality, high paying jobs.
But even the best schooled, best-trained workers are vulnerable to making errors or mistakes that can be quite costly to the businesses they serve. Having access to boat builder insurance wholesalers can keep your clients and their companies afloat.
Boat insurance for hull coverage and other pertinent issues
Hull insurance coverage is available to commercial vessel owners or operators, tug and barge operators, marine transportation operators, excursion companies, marine contractors, and boat and ship builders. This includes physical damage to the hull caused by fire, explosion and other marine perils, damage to machinery and other equipment, and apparatus installed on the vessel. Collision liability can be covered up to the value of the vessel. Additional coverage is available for excess collision liability and strikes, riots and even war risks.
Protection and Indemnity insurance protects vessel owners or operators against liability for personal injury, loss of life, third-party property damage, and other vessel-related expenses incurred during operations. Crew coverage protects against liability for loss of life or personal injury, including defense coverage for an insured against suits by third parties.
Cargo legal liability can be included, and liability for pollution damages resulting from operations can be covered as well. There are several exposures that your clients will want to address. If the policy language is hard to decipher, explain how the different policies work so that your clients fully understand what the policy does, and doesn’t cover. They will benefit from the added value of working with boat builders insurance wholesalers.