How Comprehensive Are Insurance Policies That Brokers Offer to Yacht Clubs?
Each marina is unique, and so are the risks that their owners face. Because a lot of expensive material assets are often involved, proprietors enjoy some peace of mind when their liabilities are covered. After all, marinas are places where storm surge, fire and other hazards are common. The following will discuss some of what yacht clubs insurance brokers typically offer.
Areas that are often overcome by disaster include piers, docks and wharves. These strong, yet vulnerable structures can be expensive to repair or rebuild, therefore many marina owners elect for this type of property coverage. Business income insurance helps when revenue is lost due to an emergency that shuts down operations. Some boatyards also function as dealerships, and in these cases owners can take out a yacht dealer policy.
Liability and employee coverages are also elected by many marina proprietors. Some of the policies offered are protection and indemnity, ship repairer’s legal liability, pollution, commercial automobile and bumbershoot. Beyond workers compensation, more specific policies can be written for the Jones and United States Longshore and Harbor Workers Acts.
Waterfront facilities often serve multiple purposes. They can include restaurants, fueling stations, mooring areas, shops and hotels. Yacht clubs insurance brokers can help proprietors to calculate risk, evaluate options for minimizing such and write policies to fit individual needs. When you sign with a good insurer, you’ll have a partner that you can count on in case of disaster.