Companies that operate on the water and the waterfront have unique needs, but they aren’t all the same needs. While it’s a good idea to work with a marine business insurance provider who specializes in companies that own and operate watercraft for a variety of reasons, what you really need is a provider whose program is built for your business. One of the best ways to do that is to seek out an insurer who has a specific program or package built around the needs of companies just like yours. Often, these are the same companies that cater to a wide range of businesses, but they do so with a few select programs that service a set of related niches.
Open Water, Harbor, or Waterfront Coverage?
Businesses like marinas that primarily store vessels and provide slip services have to protect their liability when an owner’s boat is on site and the owner is not, which is a bit different from the coverage needed by a rental company that lets tourists take out small craft near shore. Of course, many businesses do both, which is why it’s always great to have a relationship with an insurer who can cover you along each of those dimensions, with coverage that’s balanced to reflect your core business activities at any time. That gives you a lot of flexibility as you grow and add new services.