Marine Insurance (Trades)
Marine Insurance (Trades) is explicitly designed to cater for a wide variety of businesses that operate in the marine industry. If you are a Marine Tradesperson (boat mechanic, electrician, upholster or detailer, Marine operator, boat broker, yacht club or freight forwarder), you must consider a comprehensive Combined Marine Liability policy to protect your business against potential third-party claims.
Public Liability
Protection against claims for third-party injuries or property damage that occurred during the course of their work.
Products Liability
Protection against claims related to products supplied or installed by the Trade that caused injury or damage.
Pollution Liability
Coverage for claims arising from accidental pollution or contamination caused during the repair or maintenance work, such as fuel spills or hazardous material leaks.
Professional Advice
Breach of Professional Duty arising out of advice
Property in Your Care, Custody or Control
Covers damage to boats, engines, or other property that the mechanic is working on or responsible for.
Faulty Workmanship
Provides coverage for the costs to rectify any defective work or errors made during repairs or maintenance. (Cover can vary with underwriters ie. resultant damage only.
Defence Costs
Covers legal expenses incurred in defending against claimsStatutory Liability: Protection against fines or penalties imposed for unintentional breaches of certain laws or regulations.
Hot Work Extension
Covers risks associated with “hot works,” such as welding or cutting, which can increase the risk of fire or other accidents.
Temporary Hire of Equipment
Provides coverage for the cost of hiring temporary equipment if the mechanic’s own equipment is damaged or stolen.
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- Marine Trades: Essential Insurance Solutions for Comprehensive ProtectionMarine Insurance helps protect your business across land and sea
What is Marine Liability Insurance?
Marine Protect provides a suite of tailored marine liability insurance products that cover your legal liability to third parties for injury or damage arising from your marine-related business activities.
Do I need Marine Liability Insurance?
Marine liability insurance provides specialist cover for operations undertaken by ship repairers and marine trades, marina owners and operators, and their related industries.
Many general public and product liability policies are unsuitable for marine specialties, so if you work in the marine industry then you should consider a tailored marine liability insurance policy
In Australia, the Mariners will require a minimum of $20,000,000 Public Liability indemnity limit before a marine trade is allowed to work onsite.
Can I get a quote that includes faulty workmanship?
Faulty Workmanship is a significant concern for “boat tradies,” which includes tradespeople and professionals who work on boats. Understanding the implications and how to protect against potential liabilities can safeguard your business and reputation. Speak to your Knightsbridge Insurance Broker to ensure that the additional coverage option for Faulty Workmanship is included comprehensively or resultant damage only.
What is Faulty Workmanship?
Faulty workmanship refers to work that fails to meet the required standards or specifications. This can result in:
- Poor performance of the work completed.
- Damage to the boat or other property.
- Potential injuries or safety hazards.
What are some examples of Faulty Workmanship?
- Marine Mechanics: Incorrectly installed or repaired engines causing malfunctions.
- Shipwrights: Poor structural repairs leading to leaks or compromised boat integrity.
- Marine Electricians: Faulty wiring causing electrical fires or failures.
- Boat Detailers: Use of improper cleaning agents damaging boat surfaces.
- Marine Painters: Inadequate surface preparation resulting in peeling or blistering paint.
- Marine Upholsterers: Poorly fitted or secured upholstery leading to damage or wear.
- Fiberglass Technicians: Substandard fiberglass repairs causing structural weaknesses.
- Rigging Specialists: Incorrectly installed rigging causing sail or mast failures
Why work with Knightsbridge Insurance Group?
Knightsbridge Insurance Group is an Insurance Broking Business with over 70 years of collective insurance experience and is founded on generational values that make you feel secure, protected and cared for. As we grow and expand the Knightsbridge Family, we continue to have a deep understanding of your desire to innovate and be extraordinary — both in business and in life.
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Reach out to Tina today.
Tina Cuffe is a dedicated broker, with more than 26 years’ experience in the insurance industry, and a reputation for delivering exceptional service to her clients.