If you own and operate a boat dealership, your top priority is to keep everything running smoothly. Unfortunately, as it is with any business, there are risks involved with operating a boat dealership and these risks come with the potential for losing a lot of money. Because of this, having insurance is a must.
What Risks Do You Face As a Boat Dealer?
Operating a boat dealership comes with a number of risks that can easily sink your business if you don’t have the proper financial safeguards set in place. Your boats face a variety of risks that range from damage caused during maintenance to theft and vandalism. Additionally, you could face lawsuits regarding alleged bodily injury or property damage.
What Types of Coverage Are Available For Boat Dealers?
There are a vast amount of options available for boat dealer coverages. When purchasing insurance, it is extremely important to consider your business’s specific needs and the unique risks you may face. However, there are a number of insurance options that are generally a good fit for most boat dealships. Some of these coverage options are:
- Property coverage
- General liability coverage
- Equipment coverage
- Piers and docks coverage
- Workers’ compensation
Running a boat dealership can be extremely rewarding but also can come with a series of risks that need to be carefully considered. Having comprehensive insurance coverage can go a long way towards helping everything run more smoothly!