As a ship repair company, you are responsible for fixing problems with sea vessels, not adding to them. Yet, accidents can happen at any time even under proper care. Without sufficient protection for these unexpected and unintended incidents, your company can find itself in hot waters. That’s why shopping for the best ship repairers’ insurance programs is such an important part of running a successful ship-repairing business.
There is certain coverage you should look for as you choose your provider and plan. First is property coverage that includes everything from the watercraft and the equipment you use to the property of others. Second is liability coverage that offers both general security and more specific protection, such as for pollution or transport of the watercraft to its owner. Complete the package with workers’ compensation so your employees have peace of mind, allowing them to put all their focus on doing their highest quality work.
If you find among ship repairers’ insurance programs one that handles risk management relevant to your business, then you are on your way to ensuring you keep the most of your profits and other assets instead of losing them to lawsuits. Even if you already have coverage, it’s wise to review your plan to ensure it offers you maximum protection in all needed areas.