Business Liability Coverage Options For Yacht Clubs

liability insurance for yacht clubs

Yacht clubs operate in a high-risk environment and with so many opportunities for accidents to occur, it is imperative that you have the right amount of liability insurance coverage. Below is an explanation of what liability insurance offers and four the most popular options for liability insurance for yacht clubs.

Why Do You Need Liability Insurance?

The purpose of liability insurance is to protect you and your yacht club against lawsuits by 3rd parties because of damages you or your members have caused. For these cases, your policy will cover your attorneys’ fees as well as any judgment or settlement amounts.

What Liability Coverages Are Available?

General Liability: Broad liability coverage that protects everyone from your members to officers. It can be used to cover your legal fees in case a 3rd party claims they sustained an injury or property damage because of your club or activities.

Limited Pollution Liability: Liability coverage that makes funds available for cleaning up spills, trash and other discharge from your boats that damage owned or 3rd party property.

Liquor Liability: Coverage that protects your club against lawsuits stemming from alcohol use by one of your members or officers.

Marina Operators Legal Liability: Coverage to protect the boats of your members and other 3rd parties while they’re at your club’s facilities.

Your exact coverages and limits will depend on your business needs and local regulations. Work with an agent who’s experienced with liability insurance for yacht clubs to craft a policy that’s right for you.