It takes a lot of hard work to run a boat yard and very specific boat yard insurance to ensure all that sweat and toil isn’t jeopardized by unexpected accidents, storms, or other damaging events.

The risks a boat yard operator faces are unique to a marine business, requiring boat yard insurance that offers protection for assets and marine facilities, employees, and clients on the water and on land.

It takes an insurance broker experienced in marine businesses to fully understand the complexity of coverage requirements unique to each boat yard. There are various policy options available, which can be customized into a comprehensive insurance package.

Here are some of the options available:

• General liability – sometimes even excess coverage is purchased to offer coverage for the premises, liability for a product, or work in progress
• Property
• Marine liability – protecting you from claims of liability and property damage (including property your marine business cares for or controls)
• Marine hull, protection and indemnity – securing replacement value coverage for any vessels, equipment, machinery, or other accessories you have is often wise as well as liability coverage in the event a third party is injured
• Boiler and machinery – highly specialized equipment is often best covered by policies specifically designed for the risks associated with it
• Marine cargo insurance – if you ship or store goods, obtaining coverage that protects the cargo from point of origin to the destination (including if it is lost, stolen, or damaged in some way) is advisable
• Commercial property – this protects the buildings, contents, and even loss of income in the event of things such as fire, storms, floods, damage caused by vandals, etc.
• Pollution – boat yards are in a unique situation where pollution could have a detrimental effect on the running of their business; there is liability insurance available for things such as storage tanks and there is also coverage for site pollution for certain circumstances
• Employees – many states require boat yards acquire special insurance coverage for workers compensation issues and employee practices liability is another option many employers will choose
• Commercial automobile – if you have a vehicle for boat yard business, it should be covered with a policy that includes liability, comprehensive, collision, and more
• Umbrella liability or a broad Bumbershoot liability policy – to offer your boat yard higher limits of liability insurance