Choosing the right kind of insurance can be a stressful process no matter what kind of company you own. Yacht club insurance is no different. There are many considerations to be made when choosing insurance. Here are some things you may want to ask to find the right coverage for you.
The first step is to determine the age of your building and how much risk there is that there may be a problem due to a fire or another natural disaster. Find out whether potential disasters, such as hurricanes or wind storms, are covered, and how much your coverage amount would be, to determine if there would be any out-of-pocket expenses to your business in the event that something outside of your control does damage to your building.
Another consideration to make is liability protection, such as in the event of injury or damage to someone’s property. Any activities that your club usually hosts should be disclosed to the insurance company so you know what damages they may cover in the event that someone gets hurt. This should also include marine activities for your yacht club.
There are many questions to ask when shopping for yacht club insurance, so be sure to think beforehand of as many possible scenarios as you can to determine if you will be getting adequate coverage before choosing a policy.