As many spouses can tell you, sometimes a person’s hobby can become an all consuming and costly endeavor. As fun as these past times can be, it can get less fun real quick if all your supplies get damaged in an accident. This is especially true if your hobby entails something as intricate and complicated as building boats. Professional boat builders are most likely better acquainted with boat builders insurance than hobbyists, but the concerns and level of liability is the same. Whether you build boats for a career or for a leisurely hobby you should be properly insured.
Liability Concerns for Boat Building
If you’re investing your time in quality boat making and craftsmanship you want to make sure you protect your assets with the appropriate boat builders insurance. The most obvious choice for coverage is builders risk insurance, which covers a boat from the time it starts construction to the time it’s delivered to the customer. There are several considerations that are specific to the needs and liabilities of boats.
Some of the many different types of boat builders insurance coverage include:
- General Liability
- Property Damage
- Protection & Indemnity
- Commercial Auto Liability
- Crime Protection
- Pollution Liability
- Ship Repairers Legal Liability
- Business Personal Property
- Flood Insurance
- Business Interruption
- Wind, Hail and Hurricane Coverage