Compiled by Juli Case
Question: I let my liability insurance lapse and now I need it before a marina will let me do any jobs there. Where do I start and how much should I get?
Answer: Since you had liability insurance previously, the best place to start might be your former insurance company. With economy the way it has been the last couple of years, they may be willing to work with you to get you covered again. If you don’t want to go with the company you used before, you could ask your personal insurance representative for recommendations or check with a national insurance business. If cash flow is a problem, see if you can get the renewal dates timed for your busier season, when you should have more funds coming in.
As for how much to carry, that will depend on the regulations of the marinas that you work in. While researching this question, we had one fabricator tell us that she carries two policies because not all marinas in her area require the same amounts of insurance.
One is a liability policy and the other is an umbrella policy, for those marinas that require more coverage.