Yacht club owners are in a unique position because they wear many hats. From boating to property management to event planning, they must be able to provide marine expertise as well as amenities to their club members. They are also faced with challenges that require a different level of insurance coverage. Yacht club liability coverage can provide the protection that club owners need because it is tailored to the multifaceted nature of their business.
Keep Your Head Above Water
Yachts are not like smaller boats; they tend to have more technology, navigational capability, and luxury features that make them valuable. Yacht club owners take on the responsibility of a level of protection for these vessels when they are docked.
Club owners have liability related to the marine aspect of their business, but they also have risk related to serving food and beverage at events, fundraisers, and races. Yacht club liability coverage can include insurance to cover all aspects of the company.
When Catastrophe Strikes
Yacht clubs are vulnerable to storm damage and flooding. In addition, there is potential for an environmental impact due to the vessels themselves, including oil spills or other pollution. General policies may not cover all aspects of damage caused by these factors.
The best way to understand the need and benefits of insurance is by talking to a reputable agent who specializes in yacht club liability coverage. You can get accurate information to make informed decisions about the right policy for your business.