When people think about yacht clubs, they tend to imagine buildings on the waterfront surrounded by piers and water. A good yacht club insurance policy covers all of these things, but it also includes the things people don’t think about when they think about yacht clubs. Things like the boats are floating in the water and are as much a part of the yacht club’s existence as are the physical structures.
While the owner of a single boat has just one vessel to worry about, yacht clubs can have a variety of boats of different sizes and hull designs to monitor. Also, these ships might not all be owned by the organization. They might be borrowed, loaned or rented from club members or other yacht clubs for use during the season or just a specific event. Any insurance policy a yacht club takes out needs to factor in all of these conditions.
No matter the size of your club, having the right yacht club insurance is essential for protecting your members and the club from lawsuits, thefts and acts of God that might occur during the club’s existence. It’s important to have a trusted marine insurance specialist review your insurance policy on a regular basis to make sure your club’s insurance is kept up-to-date.