Running an efficient business requires more than customer-satisfying operations. Being able to support your operations with financial and legal backing that covers a multiple of operational areas is the heart of longevity and stability. A quality insurance plan is one way to ensure these areas are addressed.
Business insurance protects a company from the financial loss that could take place when an adverse event happens to the property, patrons, employees, or other involved parties. It is designed to protect a company’s assets, and in the case of a boat cleaning insurance policy, there are several reasons why you would want to carry this coverage. During the course of your company’s services or operations, there could be liabilities associated with:
- Property damage
- Bodily injury
- Legal defense and judgment awards
- Medical and rehabilitation payments
- Personal and advertising injury stemming from a lawsuit
While coverage might be generalized under boat cleaning, the experts at Merrimac Marine say that eligibility goes beyond those associated with cleaning tasks or services. Those operations that could be included for boating liability insurance could include marine carpentry, rigging, fiberglass repair, painting, engine repairs, welding, winterizations, electronics installation and maintenance, bridge or dock repairs, and other forms of marine-related services and trades. Consult with a broker specializing in marine insurance for the specific coverage limits and inclusions your company would need.