Marinas and yacht clubs can give boat owners a safe and fun place to store their valuable sea-faring property, so owning one of these establishments can come with a lot of responsibility. Whether you teach sailing, host events, or provide a number of other services for members, your company could be exposed to a large number of risks. Injuries could occur among both members and staff, storms could damage the property, or an oil spill could damage the local environment. Even a small mistake in filling out paperwork could have huge consequences. If you’re looking for some peace of mind in running your club, California marina insurance can be a big help.
A basic policy should offer a variety of coverage for a solid starting point, but the right insurance professional can help you uncover hidden risks you could be exposed to. Some basic coverage options include member property, facility and grounds, chartering, and liability for the yacht club fleet. The legal structure and activities of your club might determine the extra coverage you need, like E&O, directors and officers or workers compensation. An experienced insurance agent should know the common risks of the market and help you come up with a California marina insurance policy that best fits your company.