Marina Insurance Coverage 101: Risks and Coverage

marina liability coverage
Most marinas or yacht clubs do not have the funds to cover damages in case of an accident.

When you have a marina or yacht club, you want to focus on what matters. It can be rewarding and a lot of fun to host social events, teach sailing and simply enjoy your marina. With every business, however, there are risks. Without marina liability coverage, you may be in danger.

Marina Risks

If you own a yacht club or a marina, there are several risks involved. No one wants to dwell on worst-case scenarios. Unfortunately, problems do arise. Here are some of the risks that you may face:

  • Boating accidents
  • Weather damage
  • Theft and vandalism
  • Yacht fire

A lot can happen when you’re on the water. You need adequate protection for everyone in the marina. After all, you are liable in case of an accident.

Types of Coverage Available

If you are new to marina liability coverage, here are some of the solutions that you can expect:

  • Hull and liability coverage
  • Marina Coverages
  • Member property coverage
  • Chartering coverage
  • Facility coverage
  • Sailing school training coverage

Generally, these coverages will extend to members of the yacht club. This is particularly true of the hull and liability coverage. These policies may extend to boats owned or rented by the club for normal use.

Most marinas or yacht clubs do not have the funds to cover damages in case of an accident. You are liable for the members of your marina, the vessels and the equipment. Without adequate marina liability coverage, your marina could be in trouble.