Yacht club owners operate in an environment filled with a tremendous amount of risks. With so much exposure to perils that can lead to your financial ruin, it’s vital that you work with an experienced agent who understands the specific needs for property and liability insurance for yacht clubs to get the proper coverage. Below are some of the coverages that you can expect to be included in your policy.
General Liability: Liability coverage that usually includes protections for club members, directors and volunteers during races, instructional programs and sailing regattas.
Pollution Liability: Pays for any cleanup expenses or damage to a third party’s property caused by your boats.
Marina Operators Legal Liability: provides coverage for any third party boats at your facility.
Protection & Indemnity: Covers any boats that you own, borrowed, rented or loaned that are being used as part of your operations.
Auto Liability: covers club cars and trailers in case they are responsible for an accident.
Other coverages that will likely be part of your policy include liquor liability, business income and extra expense and general property insurance for your buildings, piers, wharves and other equipment. An agent who’s experienced with property and liability insurance for yacht clubs can help you customize your coverage options and limits to suit your needs.