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Boat Dealers & Yacht Brokers
Boat dealers have numerous liability exposures from which they must protect themselves. Your liability to the public is likely the area that is of greatest concern. Customers can be injured while on your premises, your docks or while going on demo rides. In addition, your exposure continues for many years after your customers take their boat home. If they or someone else are injured by your product or the work of you service department, you could be held liable for the injuries.
A dealer may also have auto liability exposures, employment liability exposures, and pollution exposures. A dealer also needs boat broker insurance to protect both the property they own and the property of others against loss. In many cases your own inventory is your biggest asset and must be protected from a loss. Because inventory values can fluctuate greatly, they can be covered on a monthly reporting form, which means you will only pay premium for the exact value of your inventory. You may also need to cover buildings you own, contents, docks, vehicles, owned vessels and various equipment.
Targeted Occupations
While the exposures are numerous, many insurance companies offer boat dealers package policies which will tie all the necessary coverage’s together in a single, cost effective policy. Packages include but are not limited to the following: Commercial General Liability, Dealers Inventory, Bailee Coverage, Commercial Property, Commercial Auto, Piers, Wharves, and Docks, Marina Operators Legal Liability, Longshore and Harbor Workers, Owned vessel coverage, Protection & Indemnity, Profession Liability, Pollution and Bumbershoot Coverage.
Boat dealers have numerous liability exposures from which they must protect themselves. Your liability to the public is likely the area that is of greatest concern. Customers can be injured while on your premises, your docks or while going on demo rides. In addition, your exposure continues for many years after your customers take their boat home. If they or someone else are injured by your product or the work of you service department, you could be held liable for the injuries.
A dealer may also have auto liability exposures, employment liability exposures, and pollution exposures. A dealer also needs boat broker insurance to protect both the property they own and the property of others against loss. In many cases your own inventory is your biggest asset and must be protected from a loss. Because inventory values can fluctuate greatly, they can be covered on a monthly reporting form, which means you will only pay premium for the exact value of your inventory. You may also need to cover buildings you own, contents, docks, vehicles, owned vessels and various equipment.
Targeted Occupations
- Boat Broker
- Yacht Brokers
- Yacht Broking Services
- Yacht Management Services
- Yacht Rental Broker
- Yacht Sales
- Yacht Sales, Valuation and Surveying Consultancy
- Yacht/Broker for Travel, Sales, Marine Consulting, Surveying, Salvage and Ecommerce and Software Services
While the exposures are numerous, many insurance companies offer boat dealers package policies which will tie all the necessary coverage’s together in a single, cost effective policy. Packages include but are not limited to the following: Commercial General Liability, Dealers Inventory, Bailee Coverage, Commercial Property, Commercial Auto, Piers, Wharves, and Docks, Marina Operators Legal Liability, Longshore and Harbor Workers, Owned vessel coverage, Protection & Indemnity, Profession Liability, Pollution and Bumbershoot Coverage.
- Protects boats, motors and equipment for sale
- Coverage extends to boats in transit, on exhibition or while being used for demonstration
- Special coverage protects boats while they are afloat and covers loss of life, bodily injury, property damage, removal of wreck where required by law, court and legal fees
Looking for something else? Check out our additional Commercial Marine pages:
Marine General Liability FAQ
Marine Charters and Guides
Ocean Marine Cargo
Marine Artisan
Marine Contractor
Boat Builder
Marina Operators and Boat Yards
Watercraft Rentals
Marine General Liability FAQ
Marine Charters and Guides
Ocean Marine Cargo
Marine Artisan
Marine Contractor
Boat Builder
Marina Operators and Boat Yards
Watercraft Rentals