Running a yacht club is like managing any other business. One of the big concerns today is lawsuits, whether due to accident, injury or some other type of misfortune. Insurance coverage for yacht clubs merits proper consideration and time, and it is part of the foundation for a well-run business.
Whether it be liability coverage for a hull or liability coverage for a regatta, errors and omissions coverage for a race or Jones Act coverage, a comprehensive analysis of the needs of the club is paramount to creating the proper safety net. Build a policy around the organization, keeping in mind what is envisioned for the future. Be realistic and ready to shift coverage as the yacht club grows and takes on new activities. A proactive stance is the best defense against future misfortunes.
All yacht owners know of the serious nature of life on the water. When you add in racing and sports activities, the potential for accidents increases. A vessel needs to have all necessary equipment, a trained crew and be ready for the unknown. Managing a yacht club takes this to the next level and needs a business focus. Protection, in the form of insurance coverage for yacht clubs, is a serious matter. Consult with a professional who understands proper coverage for mariners, and have peace of mind.