Haven Knox-Johnston launches new marine trade insurance policy
Haven Knox-Johnston Commercial has launched its new Marine Trade Insurance policy, designed to streamline insurance for small to medium-sized businesses operating in the UK marine trade industry.
The new policy – the first new insurance product created specifically for the UK marine trade industry in over a decade – is available from January 2025 and aims to provide a single solution, easy-to-understand cover tailored for marine complexities.
Key highlights of the policy include:
- Overnight contents cover for vehicles (e.g. tools) up to £10,000
- Claims paid allowance, offering up to £500,000 of cover
- Defective parts coverage under third party liability and boats in build
- Innovative features designed to meet the unique challenges of marine trade businesses
The policy has been written in-house by the expert Haven Knox-Johnston Commercial team.
Acording to HKJ, the wording of the policy reflects a huge effort to deliver a solution that addresses the unique challenges faced by the marine trade sector. Whether the client is a boatbuilder, broker, engineer, rigger, marina owner, ferry operator, or other marine trade professional, the policy is designed to protect against a wide array of risks including:
- Third party liability
- Material damage
- Employers’ liability
- Business interruption
- Goods in transit
- Marine hull and liabilities
- Boatbuilders’ risks
The coverage is underwritten by Tokio Marine HCC, one of the world’s most financially stable insurers, rated A++ (Superior) by AM Best.
Malcolm Stewart, manager of Haven Knox-Johnston Commercial and the driving force behind the new policy, says:
“Our new policy is an evolution on what has gone before. It is more rounded and offers better cover whilst not compromising on our core principle – to provide a specialist product for the UK marine industry. We are proud to offer an insurance solution to the industry that is modern and fit for purpose.
For more information about the new Marine Trade Insurance policy visit the HKJ website, or to speak with a representative, contact the commercial team on 01905 930 760.
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