Operating a marina or yacht club can be time consuming and include a lot of moving parts. While you may have the tasks of your daily operations down, you could still be exposing yourself to risk. Does your establishment have marina insurance coverage? If it does, when is the last time you updated the policy? If it’s been awhile and you’ve made substantial changes, there could be a bigger gap than you think. While a basic policy should cover a lot, you should still consult your insurance company to make sure.
Being near the water can present a huge potential for damage. Make sure your property and member property is covered against flood and hurricane damage. You may even want to consider ice damage for the colder months. You may have liability coverage for your members and the activities you host, but are the junior members also covered? Some events, like fundraising, may not be covered in a basic policy either. There could be issues during a race held by the club, or a members-only cruise. Your property could be vandalized, or a fire could burn across all the boats in the docks. While most of these events aren’t pleasant to think about, you can be prepared for the worst with the right marina insurance.