Operating a marina can come with a number of risks. Whether you’re training boat operators, renting equipment, or maintaining property these risks can leave you liable if an accident were to occur. Here are three reasons marina liability coverage is important.
Many liability plans also have provisions that grant access to, or recommend risk management or safety programs. These programs can not only provide your employees with information on safety procedures, but also help you find and mitigate risks your company could face.
In the event of an accident your liability plan can cover the medical costs of the injured party. Your plan may also cover the costs to repair or replace damaged property.
In the event your company finds itself in court after a liability incident your policy could cover some of your costs. Many plans include provisions for hiring a defense, as well as cover part of all of a settlement or any damages awarded to the other party. Exact details can be found in the terms of your chosen policy.
Including marina liability coverage in your insurance policy can be an important step for protecting your business. Liability covered can help protect you and your employees in the event of an accident and also provide access to a number of useful risk management programs. An insurance professional can help answer any questions you may have.