Being a Boat or Ship constructor is a demanding task. Supervising the complex process of construction and financing it is linked to some specific risks, such as loss of the hull or damage caused to it or to the machinery of the vessels that you are building (including the materials that you’re using for this purposes). Your responsibility and ownership percentage in the boat grows successively, while accomplishing the consecutive stages of the construction.
The Boat Builders Policy is designed for vessels under construction and may contain single risks or an open cover. In case there’s a failure of launch, the Boat Builders policy covers all the expenses incurred to complete the launch of the vessel. HP
The Shipwright policy provides marine general liability, ship repairers legal liability and miscellaneous property coverages for boat repairers with gross receipts up to $1 million. Trades include; boat/engine maintenance and repair, rigging and electrical work and carpentry and finish work. HP