Marine manufacturing companies can be in danger of losing significant time and money in the face of a disaster. There are many insurance programs for marine manufacturing which can protect the risks of disaster, injury, or breakdown. Manufacturing businesses should have business liability insurance to protect them from risks many businesses might face. General liability insurance can protect a business from liability due to injuries and accidents. Business interruption insurance can pay for the cost of the business being closed due to disasters like tornados. Another coverage related to disasters and catastrophes is loss of income insurance, which can pay for the income not earned during a closing due to disaster.
Businesses also should have insurance to cover their property and assets. If an accident or disaster occurs, property insurance can pay for the cost to replace or repair the damage. Marine property insurance can also cover watercraft, piers, wharves, docks, and damage at boat shows or exhibitions. The marine manufacturing industry faces unique risks which other industries might not have. Pollution insurance can pay for damages and cleanup costs. Equipment breakdown insurance can cover replacement or repair of damaged equipment and property damaged by the breakdown of that equipment. Protection and indemnity is a type of insurance designed specifically to cover injury or damage due to the use of watercraft. A qualified insurance professional who specializes in insurance programs for marine manufacturing can help you choose the right insurance programs for your business.