While many yacht clubs follow the same basic business model, many of them are adding more and more amenities for their members. These new additions can make a difference in customer satisfaction, but they can also expose clubs to new types of risk. Insurance coverage for yacht clubs can become complex, so if you’re looking for insurance or just need to update your policy, here are a few types of coverage to consider in your search.
Perhaps one of the most useful areas of coverage will be yacht club general liability. This should cover the directors and club members, and even volunteers. This coverage should also be useful for clubs that enjoy teaching sailing lessons or hosting boating events. Pollution coverage can help with costs of clean ups and repairs if your property or third party property is damaged by pollution, whereas physical damage coverage can help in other instances. You may need liquor liability if it’s served on the property.
While these types of coverage are common, they may not be enough to protect your establishment. Once your risks are assessed, your insurance company should be able to offer you additional types of coverage, like workers compensation. Though it may seem like a complex process, attaining the right insurance coverage for yacht clubs can help immensely down the road.