Yacht clubs have risks associated with them that are different from other types of businesses, which is why insurance for yacht clubs covers a unique range of areas. A yacht club is more than just a set of piers and moorings; there’s often a clubhouse, restaurant, training school, member’s facilities and dry dock areas. All of these things need to be covered by the club’s insurance, and each one requires a specific type of coverage. While the cost of yacht club insurance might be daunting, there are four benefits that come from having the proper coverage.
Yacht club insurance is important because it can protect your organization from liability lawsuits resulting from injuries or accidents occurring within the club. Certain types of coverage can help cover the cost of any lost or stolen member items. Coverage for yacht clubs has to include protection from pollution and oil spills, which can take place at any club no matter the safety protocols. Finally, if your yacht club employs staff, they have to be covered not only on the land but also if they work on the water. A good insurance policy can protect your club from the cost of defending against lawsuits and also any damages that might be awarded by the courts.
Yacht clubs are a special kind of business and insurance for yacht clubs is design to meet the unique needs of the industry. If you’re unsure about your coverage, have your policy reviewed today.