Marinas provide a wonderful variety of activities for those who love being in or by the water. However, the operation of these facilities carries with it a number of ongoing risks and exposures that owners need to be aware of at all times. It’s vital to their survival that they do what is necessary to ensure that they’re fully protecting themselves, along with their customers and patrons, when it comes to their insurance for California marinas. Any shortfalls in this regard can prove quite costly, particularly in the event of an accident.
Many property and liability risks may arise from these commercial activities. As an owner, it’s your job to identify and focus on mitigating many of the inherent risks associated with your business and seek affordable solutions to help keep your business thriving.
Multiple services come with multiple risks
Most marinas provide a slew of amenities and services, such as fishing expeditions, boat shows, charters, regattas, and watercraft rentals. Many also provide referral services to charter and rental services. By providing so many different types of services and duties you unfortunately lend yourself to a slew of situations that offer serious liability exposures.
Do you allow outside contractors access to the premises or to customers’ vessels? This further opens you up to additional exposures and the possibility of lawsuits. Some coverage options are specifically designed for marinas, an operation that doesn’t always fit into the standard commercial property or liabilities forms. It’s important to understand and properly cover against so many risks, and this often requires an expert that regularly deals with issues unique to the marine industry.
In addition to the above stated areas of concern, you should also be properly protected against the standard concerns, such as theft, vandalism, accidents, injuries and other common exposures. Look into your coverage options and make a list of activities you provide, such as club activities, fundraising, or other special events that may take place throughout the year.
Inland marine protection is critical for anyone in the boating industry, and obtaining insurance for California marinas with a reputable and experienced marine insurance agency is best advised. Marine insurance policies can cover everything from boats owned by clubs, to slips and moorings, and address liability concerns for both club members and their guests.