Summer is the season when millions of Australians flock to the beach and take to the water.

It can be a highly profitable time for marine orientated businesses, such as boat rental organisations, surf schools or tour cruise operators.

However, with growth in consumer activity, there is also the need to mitigate an increased risk of accidents or loss causing events.

Many marine businesses rely on vehicles or equipment to run a successful summer season, such as boats, trailers and other nautical devices.

Companies are encouraged to identify the areas of risk within their operations. These could include allowing customers to operate equipment, potential damage to third party property and the danger of an injury or fatality in the water.

Once these hazard areas are identified, a business insurance policy can be put in place to ensure your company can survive in the event of a loss causing incident.

However, it’s not just businesses that need to stay covered this summer. Private pleasure craft owners should consider protecting their assets from any potential damage or third-party liability claims that could arise this summer.

Private pleasure craft insurance covers two main areas – property and liability.

Property benefits include cover for loss or damage caused to the boat, trailer, motor or other approved accessories and safety gear.

An extensive policy will also provide limited cover for personal effects carried on the boat.

Liability cover will ensure you are not financially responsible in the event of accidental death, injury or damage to other people and their property.

This includes other boat users, swimmers and water skiers or aqua planers being towed by your  vehicle.

If you would like more information on boat insurance for your private or business vehicles, speak with the MGA Insurance Broker team today.