No matter the size of your yacht club, there are inherent risks to boats, passengers and the crew. Fortunately, with the risks, there are insurance coverages that can keep the club protected. Here are the common risks that insurance can protect your club against.
Theft and Criminal Claims
Yacht club owners have to think about theft. A lot of thieves find motors in yachts to be attractive due to the transportable size. Likewise, motors are difficult to trace. There are a lot of valuable items in a yacht and a lot of valuable items that are property of the club. Despite the security, your theft can be a problem for any club.
Employee and Guest Claims
What happens if an employee or member makes a claim against the club? Will the yacht club be able to afford any legal defense fees or settlements that might come against it? Sometimes, employees will target the directors and trustees. This could be for breaches in health and safety or claims of harassment.
One way that you can protect your yacht club is through property and liability coverage solutions customized for yacht clubs, as reported by isurepro.com. No matter your circumstance or personal risk, there are coverages available when you work with yacht insurance brokers.