The key to finding the right coverage is identifying the needs of a boat club and proceeding from there.Recreational boating is not without its risks, which is why recreational marine insurance programs are so important for boat and yacht clubs. Covering property damages at a club is an important part of recouping the costs of repairs and replacement parts. Some property coverages offered in marine insurance programs include exhibition locations, piers, wharves, docks and owned watercraft, such as boats visitors can rent.
Liability coverage is also an important kind of insurance for a yacht club to have. This can cover scenarios relating to pollution, bumbershoot, ship repairs and general liability. While a yacht club should do everything possible to limit these risks, since accidents can and do happen, liability insurance is a must.
Recreational marine insurance programs can also protect workers at a recreational facility. Employee coverage can include worker’s compensation and coverages required by local, state and federal laws. Protecting employees is just as important as protecting the property they work on as both contribute to the atmosphere of the club.
A recreational marine facility, such as a boat or yacht club, needs insurance to cover unexpected accidents. This coverage should look at property damages, liability and employee safety. The key to finding the right coverage is identifying the needs of a boat club and proceeding from there.