Yacht clubs work hard to provide a wide range of services to their members, which creates a wide range of liability risks, making yacht club insurance essential.
Yacht clubs must consider their own members and visitors and, in many circumstances, members of other yacht clubs that have reciprocal privileges with Yachting Clubs of America. Having good yacht club insurance can keep your business safe.
When acquiring insurance through a marine insurance firm, yacht clubs, like other private clubs, have several potential legal considerations to consider. Your yacht club must be adequately safeguarded from theft, vandalism, accidents, injuries, and other threats to ensure the profitability of the business. Here some questions to assess your need for yacht club insurance:
- Are you protected if a yacht breaks loose from its mooring in the middle of a storm? What if the member claims the mooring is faulty?
- What if a visitor slips and falls on the pier, or if someone becomes sick at a social function and claims the food wasn’t properly prepared?
- Would you be able to sue if a structure was defaced with graffiti on a summer night or if a fire destroyed property or moored boats in the marina?
Additional Coverage Needed
When assessing your yacht insurance coverage with a marine insurance carrier, think about if any of the following items require special supplementary coverage:
- Dock insurance
- Flood or wave wash, hurricane or ice damage
- Club activities and liability for all members, including junior members
- Fundraising or other special events
If you haven’t already, pursuing yacht club insurance can give you peace of mind for your club.