Even when a ship is already damaged, being the one responsible to repair it puts you at risk of liability claims. Whatever happens to the ship when it is in your care falls on your shoulders. Even damages that occur up to a year after the ship repairs are complete could show up in a claim. Luckily, the insurance experts at https://www.merrimacins.com say these types of risks can be covered with the right policy.
Coverage Regarding Ship Repairs
Ship repairers legal liability coverage deals specifically with negligence related liabilities.
- damage or loss of vessel during transit
- third-party bodily injury or death
- unforeseen costs of the shipowner due to delay or further repairs
- detention and pollution of vessels regardless of location
With the right provider, your coverage will be customized to meet your specific needs.
Unfortunately, your liabilities as a ship repairer are not limited to the vessel itself. You may also need coverage for situations like riots, war risks, business interruptions, terrorism, and builder’s risks. Take into consideration your equipment and property as well, as it is necessary for you to conduct your business and serve your clients. When you have an insurance provider you can trust, they will guide you in protecting your business as extensively as possible.