30 January 2024

Commercial Marine Trade insurance

By Sean McNamara Branch Manager, Worcester
An aerial illustration of five boats docked around an X-shaped wooden pier floating on calm teal water.

Navigating trade insurance

Running a thriving business in the marine industry demands unwavering dedication, creative problem-solving, long hours, and an intense focus.  Amidst the myriad challenges, the task of considering business insurance often takes a backseat, leading many to opt for the convenience of accepting the annual marine trade insurance renewal that lands in their inbox each year.

Enter Haven Knox-Johnston Commercial, our newly established Marine Trade insurance unit.  We’ve formed a specialist marine business team by uniting some of the most reputable brands and seasoned experts in Commercial Marine insurance, such as A-Plan Commercial Marine, Fastnet Insurance Services, and Curtis Marine. Our goal is to assist you in securing the most suitable Marine Trade insurance policy tailored to your specific business needs.

Marine Trade insurance extends beyond the fundamentals of Liability, Asset, and Business interruption coverage, even though these policies often constitute the foundation of protection.  Numerous supplementary options exist, often overlooked in a general business policy.

Considerations must include Management Liability to shield senior decision-makers and Legal Protection, providing cost mitigation and expert advice in the defence against legal actions brought against the company.

From a practical standpoint, our offerings in Engineering insurance cover the operation and movement of plant and machinery.  Hull cover safeguards boats owned or operated by the business, while Motor fleet caters to company vehicles, and Charter fleet addresses vessels rented to paying customers.

Our comprehensive offering also encompasses Protection & Indemnity, Personal Accident, Professional Indemnity (especially crucial for Surveyors), Cargo, Travel insurance, and, notably, Cyber insurance — an often overlooked yet increasingly vital component in safeguarding your business and reputation.

While this list is not exhaustive, it underscores the importance of consulting with a Marine Trade insurance specialist to assess your unique business insurance requirements.  Each marine business is different and our experts will be able to guide you in the right direction to appropriate cover with the extras you need and without wastage on elements you don’t.

 

Find out more about our types of policy cover

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