Posted on Dec 6, 2018

Merrimac Marine Insurance LLC

According to trends from IBIS World, the boat dealership and repair industry has increased in revenue over the past five years, making $20 billion annually worldwide. This industry is booming, and this is the time to make sure it’s properly protected. There’s 116,611 businesses and 153,107 employed—IBIS World found—and while the industry has fluctuated, it’s clear that it’s not going anywhere anytime soon.

Each business needs insurance to take care of their assets, and for marine repairers, professional liability insurance is necessary to protect against claims of loss due to professional services. Any insurance agent needs to push this type of insurance. Without insurance, your client is going to spend a lot of money, and by paying a simple premium, this hazard can go away. Here’s a closer look at why marine repairers need professional liability insurance.