Builder’s Risk
Insurance


Builder’s Risk
Insurance


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All commercial yacht builders must be covered by multiple lines of insurance. The first is called Builders Risk and it protects real property (hull, engines, materials, etc.) while the vessel is being built, renovated, or repaired. Personal property that will become a permanent part of the vessel is also covered under these policies. If testing is required, and it often is, Builders Risk Insurance may include launching and trial coverage as an option.

When does it begin and end?

Builders Risk coverage is valid from the start of construction until the yacht is delivered to the customer. Since transporting these vessels can be dangerous, both physically and financially, some policies include coverage for land transit. This option is a must for commercial builders that make large, lavish yachts.

Policies that cover launching and sea trials also include Collision Liability and Protection and Indemnity. Better known as P&I insurance, it protects operators from liabilities that arise out of navigation or management of their yachts.

Although many other types of insurance are required to build commercial vessels, such as General Liability and Product Liability, Builders Risk is the most comprehensive form of coverage, which is why it is often obtained before the others.

Personal Needs

As one of the top marine agencies in Florida, Brown & Brown Fort Lauderdale understands that every commercial builder is unique. Some make small fishing boats while others make mega yachts. Either way, the insurance coverage you require must be tailored to meet the needs of your business. With over 120 years of combined marine experience, our agents at Brown & Brown Fort Lauderdale are uniquely qualified to customize a policy that protects all your exposures. We can also review your current coverage and make recommendations for improvement.

Brown & Brown, Fort Lauderdale, Florida

Brown & Brown of Florida, Inc. - Fort Lauderdale

1201 W. Cypress Creek Road, Suite 130
Ft Lauderdale, FL 33309

Ph: 954-776-2222
Fax: 954-776-4446

We Are Here To Help

Contact us today for a free consultation.

Brown & Brown, Fort Lauderdale, Florida

Brown & Brown of Florida, Inc. - Fort Lauderdale

1201 W. Cypress Creek Road, Suite 130
Ft Lauderdale, FL 33309

Ph: 954-776-2222
Fax: 954-776-4446

We Are Here To Help

Contact us today for a free consultation.

© Brown & Brown of Florida, Inc. - Fort Lauderdale 2021. All Rights Reserved.

© Brown & Brown of Florida, Inc. - Fort Lauderdale 2021. All Rights Reserved.