Whether you own a boat club or simply spend a lot of time at one, you’ve likely wondered what your insurance coverage looks like while on the property or water. Since boat clubs present unique situations in which people and property can incur damages, it follows that boat club insurance must be equally unique in order to ensure peace of mind for club owners and visitors alike.
1. It Protects Property
Property damages are sometimes covered in general liability policies, but you may want to make sure it covers specific situations such as damage to docks, rented equipment, and personally-owned vessels. Boat club insurance helps cover the costs of repairing or replacing damaged property.
2. It Protects Employees
While on or near the water, employees should exercise caution to avoid accidents like slips and falls. In the event of such an injury, however, workers compensation policies take care of any ensuing medical bills and related loss of income.
3. It Protects Customers
Visitors, especially those renting vessels or equipment, must usually sign an agreement stating that they are responsible for returning those items in proper condition. You can, however, find policies that reassure visitors that they are not at fault if something unexpected should happen while the property is in their possession.
There are many different types of boat club insurance policies, and most of them can be tailored to fit the specific needs of any given club. These policies enable owners and visitors to enjoy their time on the water rather than stress over the potential dangers.