Yacht clubs and marinas share the same types of exposures in the running of their operations. When purchasing marine insurance you need to buy broad coverage to meet many of the unique needs of your industry. Whether you run regattas, host classes that teach sailing, hold social events for local community members, or simply need insurance that will help you weather storms, you can talk to an agent familiar with your operations and get the right policy for every type of risk or concern.
The value of having marina operator’s liability
When you buy a marina operators legal liability policy you are ensuring that you have protection against the liability exposures associated with the operation of a marina, including those related to the care, custody, and control of watercraft. The coverage may include both land and waterborne exposures located at the marina. A marina operator is responsible for affording vessels that make use of its facilities with a safe berth.
The marina operator must also advise all vessel operators of any hazards or deficiencies associated with the marina or the berth in which the vessel is being moored. By not doing so you further run the risk of claims, as the operator becomes liable to the vessel owner for any damage that results from the unsafe berth. Policies normally provide coverage for private pleasure vessels but may be endorsed to cover commercial vessels that are docked at their marina.
Regatta liability concerns
Any clubs and associations hosting a championship or regatta are required to carry insurance coverage for those events. Yacht clubs, as well as community sailing programs, need the protection of a comprehensive insurance program. The policy not only protects the club and its assets, but also the board members, flag officers, volunteers, members, as well as employees. In addition to providing coverage for assets and people, the insurance program should include protection for a diverse and wide range of activities common to most sailing clubs and organizations.
Property insurance is required to cover the facility and grounds, especially if the facility falls victim to acts of vandalism. Marina operators have a duty to themselves and the patrons they serve by having marine insurance on hand for many of the issues that may arise.