As the owner of a yacht club you realize that you have quite a few risks to consider. To be successful you must work hard to provide the level of service to your members that they’ve come to expect. California marina insurance helps you to address liability concerns, often unique and varied, and it might only take one incident to harm your business, both in terms of finances and reputation.
Injuries and illness are two issues that plague all business owners. When you work in and around water, the likelihood of an accident occurring at some point is pretty high. If you serve food to large groups of people there’s always the possibility that someone could wind up becoming ill. You also have the added concern that a theft could occur, or acts of vandalism (graffiti, for example), as well as the possibility of a fire destroying property or boats moored in the marina.
Coverage is essential
When reviewing your policy with your agent, ask questions about the type of coverage that you are being provided, and make sure that the policy meets your current needs. As an owner, you should know the types of coverage available and what types of insurance will be beneficial. You can choose from a list that includes a policy for real and personal property, yacht dealers insurance, equipment insurance, a boat show/exhibition policy, owned watercraft, piers, wharves & docks, and business income, to name a few.
As far as liability coverage, there’s general liability, products-completed operations liability, marina operators legal liability, protection and indemnity, and ship repairers legal liability. You may also choose to buy commercial auto, pollution, or a bumbershoot policy. If you have employees you must purchase, workers compensation, Jones Act, and United States Longshore and Harbor Workers Act to provide for your dedicated staff of workers.
There are many issues that require having the right policy on hand. Being insured means getting help to recover from damages as well as protecting owners in the event a lawsuit is filed. Yacht clubs, like most private clubs, have many potential legal issues to consider.
California marina insurance is vital to any business as policies can cover everything from boats owned by the club, to slips and moorings to liability issues for club members and guests.