Marine products can mean a whole host of products ranging from composites and component parts to entire marine vessels, tools and supplies for ship manufacturing and repairs and even accessories like boat bedding and speakers. Regardless of your role as a marine product manufacturer, there are risks that need to be mitigated that are specific to your manufacturing operations. Just as you specialize in specific marine products, we specialize in commercial insurance that keeps Canadians businesses protected.
Marine Product Manufacturer Insurance – Liability Coverages
We offer a full selection of coverages and limits to protect your marine product manufacturing operations including:
- Protection includes lawsuits alleging personal injury, property damage, false advertising and libel or slander.
- Additional coverage for protection in case of consumer injuries from the products, sold, manufactured and/or distributed.
- Indemnifies your board members and/or organization for lawsuits alleging wrongful acts by directors or officers for things like breach of duty etc.
- Protection from wrongful dismissal, discrimination and other employment-related liability.
- Coverage for cleanups and litigation costs.
- Coverage for notification costs, data repair and recovery and cyber liability.
In case of claims involving legal liability, what does the boat manufacturer insurance policy cover?
- Lawyer’s fees and defence costs
- Out-of-court settlements
- Awards for damages
Keep in mind that your marine product manufacturing business can be served with frivolous lawsuits that could cause significant damage to your bottom line without the right liability coverage.
What does the Marine Product Manufacturer Insurance cover in regards to Property?
Our marine product manufacturer insurance plans can also cover your assets and products in inventory and in transit.
- Protection for building and contents including product in inventory from perils such as fires, floods, windstorm damage, vandalism and more.
What does business interruption insurance cover for marine product manufacturers?
It covers your operating expenses in case of peril.
You may also need to add:
Extra Expense Insurance – for the costs of setting up a temporary manufacturing location following a peril.
- Can cover product losses due to mechanical failure resulting from specific perils such as electrical arcing and others.
- Coverage for the costs of a recall including disposal fees, profit loss and replacement costs.
- For accounts that have gone into arrears.
- Provides door-to-door coverage that protects your products in transit.
- Fleet and single coverage for delivery vehicles and other vehicles used during business operations.
- Protection in case of employee theft or fraud.
At ALIGNED, Commercial Insurance Is All We Do.
When you choose ALIGNED, you get a commercial insurance specialist advocating for your manufacturing plant or yard to get you comprehensive marine product manufacturer insurance at affordable rates. We work with Canada’s top insurance companies to ensure reliable protection when you need it the most. Contact an ALIGNED advocate to get a free quote on marine product manufacturer insurance in minutes or get started right away by using our free online tool.
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