Marine business Insurance, When storms hits, the right cover will get you back on the water.

Storm Callum wreaked havoc across the UK and Ireland in October.

In Devon, one local business organisation estimated the storm would cost the area’s companies £10 million in delays and disruption alone.

Wales was hit by the heaviest flooding in 20 years and 60,000 homes in Ireland were left without power as torrential rain and 76mph winds battered the west of the British Isles.

For boat owners and marina staff, the storm caused significant damage.

In Aberaeron, damage estimated to cost hundreds of thousands of pounds to repair was caused when eight boats were lost in 24 hours.

The storm combined with a tidal surge to swamp them, drowning their engines and capsizing them. The stormwaters also caused damage to the south pier.

In another Welsh harbour, boats suffered thousands of pounds worth of damage when five capsized.

Boat owners in Port Dinorwic reported that they lost their masts in the high winds, and the engines and contents were wrecked by the lashing waters.

Eight members of the Port Dinorwic Sailing Club spend 11 hours refloating two of its boats and rescuing a third before it capsized.

The full cost of repairs after Storm Callum is still being counted, but it is set to run into many millions of pounds. In Carmarthenshire alone, the council estimates that it will cost £3 million to repair the highways after the storm.

When events like this happen, having an insurer with specialist marine knowledge is vital because:

• They understand the challenges presented by being on, or near, the water
• They understand the level of liability cover needed for ports, harbours, and yacht clubs
• They understand the need for speedy repairs to protect business continuity
• They understand that boats, yachts, and ships and equipment need to be covered on shore and at sea

How do I choose the right marine insurance for my boat club or business?

Talk to an independent insurance broker with access to the whole of the market. They will be able to source the right policy for your marine business.

Give your broker as much detail as possible about your boats, equipment, how they are stored, how they are used, and who has access to your site.

Find a broker with experience in the sector – such as Severn Bay Corporate Services. We have 30 years of experience with marine insurance and our MD began his working life as a boat builder, so understands the sector well.

WHY CHOOSE SEVERN BAY CORPORATE SOLUTIONS?

• We have 30 years of experience with marine insurance
• We’re not tied to specific financial institutions or companies, so we can find the best deal for you
• We have access to the whole of the market, including new insurance products

Need advice? Our Severn Bay team of marine insurance specialists is here to guide you on the right products to ensure you’re protected. For more information please contact us on 029 2047 0375.