Businesses devoted to the repair and maintenance of commercial marine vessels, yachts, and smaller personal boats face unique liabilities because of the nature of the work. Since legal liability creates a real risk of sudden financial burdens, insurance coverage for those areas where your facility incurs liability is a must. The best ship repairers legal liability coverage will always be a tailored one because there are so many potential types of liability for shipyards, and not every facility needs every form of coverage.
What Kinds of Liability Are Covered?
Legal liability insurance for shipyards and repair facilities may cover any of the following liability types, and most also provide financial assistance with your legal defense when you are not actually liable.
- Property damage to vessels while at your facility, including while being worked on
- Damage caused up to a calendar year after work is completed
- Third-party liability coverage
- Worksite coverage for on-site repairs
- Sudden and accidental pollution coverage
- Coverage for the detention of vessels, including lost revenue for the owners
Coverage levels and types need to be suited to the risk profile of each individual business that asks for a quote, so the best way to learn more is to seek one.
When you turn to experienced industry leaders who make a deep knowledge of marine coverage their core business, your quote for ship repairers legal liability insurance can be fully cost-optimized without compromising on coverage anywhere.