Your yacht club is a source of friendship, adventure and good times, but accidents can happen there. When they do, having the proper yacht club liability coverage in place can make all the difference. Liability insurance is designed to protect your club from potential lawsuits brought against it when things go wrong. Such lawsuits can be the result of malpractice, negligence or injury, and they can result in substantial legal fees for your organization and awards for the plaintiffs.
In addition to the standard liability coverage all businesses should have, yacht clubs need coverage specific to their unique business, including, yacht club fleet liability and regatta liability coverage. Yacht club fleet liability coverage protects your organization against liability resulting from injuries and damages caused by ships within your club’s fleet. This liability coverage is a broader version of the boat liability coverage that all boat owners are required to carry. Regatta liability coverage deals with all accidents and injuries that take place during the racing of a regatta. Typically, this coverage begins the moment a participating yacht leaves the dock or mooring to the moment they tie up at the end of the day.
Yacht club liability coverage is an important part of any yacht club’s insurance coverage policy. Make sure your coverage is up-to-date by contacting a marina insurance specialist and asking for a policy review today.