What Is Marina Insurance and Why Do You Need It?

What Is Marina Insurance and Why Do You Need It?

Marina Insurance

As a business owner, you need to protect your facility from different types of risk. Those risks vary from industry to industry, but they’re particularly challenging to protect against when you’re the owner and manager of a large marina. Only marina-specific business insurance will do the job properly, and while the coverage seems similar to standard business insurance, it has a few key differences that make it unique.

What Is Marina Insurance?

This unique coverage option is a type of business insurance designed with private marinas in mind. It provides standard protection like liability coverage, property insurance and employee coverage for any staff that provides services to your customers or their property each day. The policy also provides protection against theft, boat damage and even damage to the docks and slips.

The Policy Isn’t Optional

If your goal is to attract as many boat owners to your marina as possible, skipping coverage isn’t an option. It’s in your best interest to protect both your business from liability and your customers’ property from damage every day. Without marina insurance in place, you’ll be liable for the full cost of repairs, damage or lawsuits completely out-of-pocket.

Each policy is custom-tailored to the individual business and the risks you face at your marina. Shop around and find the best coverage for your needs and your budget before you open your marina to the public.