A traditional insurance program covers property and also offers liability coverage. Yacht clubs do not differ in that regard. While many programs focus on covering physical property such as boats and business facilities, yacht club liability coverage aims to protect the legal responsibilities of both business owners and club members.
Liability protection is needed when your club is made liable for someone else’s injury or property damage. For example, if a guest gets injured on a business-owned yacht, then your business may be made liable for that incident. Another example would be if an employee is involved in an accident when on property grounds or out on a business errand. Your business is also liable if your employees are injured, especially while on the clock. Yacht club liability coverage can also protect employees, club members and club directors depending on the kind of coverage you opt for. Other types of liability coverage may include liquor liability, which depends on your state’s liquor laws, and athletic events. Some policies do not offer liability coverage for athletic events hosted by your yacht club. It is always worth paying attention to what is offered by your local yacht insurance companies.
Regardless of what kind of liability coverage you opt for, your yacht club will be well-protected in any and all potential cases.