Yacht clubs are a staple to any traditional marina. These are areas of business devoted to paying members of either a group of yacht owners or those interested in renting out yachts. They can also offer yacht lessons, such as learning how to sail, and offer a variety of other different activities like racing programs. Though they might differ in what they offer, all yacht clubs have one thing in common. They are all eligible for insurance. Insurance coverage for yacht clubs offer different kinds of insurance that are worth exploring.
A typical insurance program for a yacht club will cover the boats owned by the business and rented out to members. They can also offer coverage for boats owned by members of the club as well. Yacht boat coverage includes the hull of the boat and any liabilities that can be incurred. Aside from the boats, insurance coverage for yacht clubs also includes the business property, such as the marina or facilities used by yacht club members. In the event of a natural disaster or an accident like an oil spill, the insurance program will also cover damages. Sailing school training and chartering are also covered under insurance policies. Yacht club workers can also opt for coverage, such as Workers’ compensation.
Insurance coverage depends on what you and your yacht club business needs. You can easily pick and choose which policies you need in whatever program you opt to apply for. All you need to know is what options are out there for you to take advantage of.