When you run a marina, one important way to reduce your budget is to perform risk control and purchase liability insurance for issues that may occur at your marina. There are many kinds of marina liability coverage to choose from depending on the services you offer. Here is a look.
When watercraft or cargo come to your marina to unload something, this is covered with terminal liability. Some situations this applies to include:
If you or your marina employees are involved in the loading and unloading of cargo, then you need Stevedore’s legal liability. This covers you in case of damage to a boat or its cargo.
Watercraft at your marina for repairs or alterations falls under repairer’s liability. If the repair or alteration has issues or if an accident with another boat happens, you’ll be covered.
Any watercraft at your marina that isn’t owned by you or the marina can be covered by operator’s liability insurance, if something goes wrong. This applies to watercraft at your marina for any of the following reasons:
Protect your marina by looking into marina liability coverage. Some coverages may not apply to the activities at your location, so do your research and choose the right coverage for your marina.