Start with these exposures
- Boats, motors, trailers and maximum values
- Storage afloat, ashore and in transit
- Sea trials, repair, slips and marina activities
Coverage considerations
The boats, motors and trailers a dealership sells, who owns them and where they are kept all affect the coverage. Consignment, brokerage, transportation, seasonal storage and the largest concentration of value need particular attention.
Review marine inventory or stock protection with the team, including hull values, navigation, launching and hauling, flood, named storms and deductibles. A trailer used on the road can create a separate insurance and registration question from the boat it carries.
Water demonstrations and sea trials are different from ordinary road test drives. Explain who operates the boat, where it travels and who is aboard. Marina, dock, repair and customer-storage activities can require marine liability or other specialized coverage.
State boat-dealer and broker rules differ from used-car licensing. Use the appropriate agency and category for your operation. Marine activities may require specialized underwriting before coverage options can be confirmed.
Compare the coverage and cost
Compare quotes for the same operations and coverage. Confirm the total policy cost, deductibles, payment terms and any exclusions affecting the way you do business.