When shopping for insurance coverage, there’s a lot to consider. When you own a water-oriented business like a marina or yacht club, there’s even more. Sifting through the crowd of marine insurance brokers can be confusing unless you know what to look for.
Knowing Your Needs is the First Step
There are plenty of options when it comes to marina insurance brokers, but not all insurance policies are equal. It’s important to consider the needs specific to your business and find a company that covers them all. Start by determining the size of your business. Is it a large marina with dozens of clients or a small company with only a few docks? Your insurance needs may vary drastically based on this information alone. Consider, also, what legal and environmental requirements there are for your business. You’ll want to find an insurer who can assist you with those as well. Look for a policy with a broad spectrum of protections, from general liability and personal property protections to workers’ compensation and legal liabilities. The more coverage areas you have, the more comprehensive your policy will be in the event of a claim.
By determining your needs before you begin, you can narrow down your options and get a clearer understanding of what your policy should look like. Once that’s done, navigating the sea of marina insurance brokers is a breeze.