The Boat Sales Market is on Fire🔥🔥🔥
This is GREAT news for our Boat Detailers businesses across the United States! Never has so many people sick of being on lockdown gone out and bought a boat or upgraded to a larger vessel. For our Boat Detailers this more jobs and more money in their pockets.
With all that said, let’s talk about what kind of Business Insurance Boat Cleaning Businesses need.
First off there is NO law that we are aware of mandating insurance. So getting insurance to protect you and your business is strictly up to you. But if you hope to work in Marinas and be a legitimate business you will need some type of insurance to show your customers.
If you want to work in a Marina or Shipyard they will require you to carry at the very least a Marine General Liability Insurance policy. This policy works the same as typical General Liability policy, but designed with water in mind. A basic $1 million dollar policy will run you about $1,000 per year or $80 per month for a single owner with no employees.
Marine General Liability Insurance premiums are rated by the number of employees, so the bigger the business the more the insurance premiums will cost. The reason why is simply more employees equals more boats that you are detailing which means the higher chance of a claim.
After the policy is purchased the insurance agency will issue you a Certificate of Insurance with the name of the Marina or Shipyard on the certificate. Then you are off to the races…but wait🚤.
A Marine General Liability policy only covers against slip and falls, what if you do damage to the boat while you were cleaning it? That’s where Marine Operators Legal Liability comes in to protect the boat from damages done by you, the insured.
Marine Operators Legal Liability Insurance provides coverage to the boat while in your care, custody and control. Let’s say in the course of cleaning the boat you damaged a piece of equipment. Since this is a boat any damage is going to be expensive…anything with the word “Marine” in it is expensive💰. If you had Marine Operators Legal Liability that equipment would be covered by the insurance company minus your deductible up to policy limits that you requested.
Now that you know some of the basic coverages around a boat cleaning business and you understand how premiums are calculated you are ready to work with the experts in Marine Contractors Insurance. Click the link below will take you to our contact us page where you can fill out a form and a member from our Marine Team will call you or you can call (850) 389-2001 and speak to an agent now.