Your marina literally provides a safe harbor for your clients. Sometimes, however, it can be unintentionally unsafe, leaving you liable for whatever damage ensues to property and persons. The types of liabilities you face in the maritime industry are many, making proper marina liability insurance a must. Otherwise, you can find your business sinking.
Naturally, many liability issues are related to water and vessels. Storms and other intense weather conditions can cause damage to docks and ships. Watercrafts can get into accidents just like vehicles on the road. Renters can harm ships and vice versa. In any of these situations, you need to have sufficient coverage to pay for repairs and other expenses and to mitigate lawsuits.
Not all accidents happen on the sea, however. You face many risks on the land, as well. Your insurance policy must also cover aspects such as errors and omissions, facility and grounds, workers’ compensation and an umbrella policy for everything else.
The best marina liability insurance will be like a surf-and-turf dish, including all areas of your business instead of just one. With comprehensive protection, you can run successful regattas, social events, and sailing classes. No need for you to stress the financial consequences of an accident when you have the right policy anchoring your business.