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Nationals Insurance advice?

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Gary B.
Admiral

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USA
969 Posts

Initially Posted - 01/05/2004 : 15:02:21

Friends,

As many of you know, the National Regatta is being held in Portland, OR in July. We have leased a VERY nice clubhouse from a yacht club located in our host marina. It will be for registration, skipper's meetings, coffee and light breakfasts each day as well as our awards "pizza and beer" party on Saturday night.

The rub is that they are requesting liability insurance from us to protect their interests (their club house is BRAND NEW).
I am going to have to change homeowner's insurance in order for this to be covered by me, which will raise my car rates substantially, but it would be cheaper than an exorbitant $700 bill for "event" insurance, the other option at this point.

We have already set entry fees for the regatta at a very cheap $70 per boat, which includes 2 crew; now we are incurring expenses that go WAY beyond expectations. If anyone out there has advice, I would take it! I am doubting that the National Association has insurance that might help us out here, but that would be a life-saver as well.

Any help or advice from insurance experts or those with experience here would be helpful. Thanks,

Gary B.
Encore! #685 SK/SR
Fleet 94 Captain
NA Vice Commodore

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Frank Hopper
Past Commodore

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Pitcairn Island
6776 Posts

Response Posted - 01/05/2004 : 15:38:42

Can you pay for a rider on their policy to cover you, it may be cheap.

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Steve Milby
Past Commodore

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USA
5909 Posts

Response Posted - 01/05/2004 : 20:30:20

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica" id="quote">quote:<hr height="1" noshade id="quote">The rub is that they are requesting liability insurance from us to protect their interests (their club house is BRAND NEW).<hr height="1" noshade id="quote"></blockquote id="quote"></font id="quote">
Don't they <u>already</u> have liability insurance to protect their interests? (I'm sure they do.) How much more do they want? As Frank suggested, why can't you buy an inexpensive rider that will increase the amount of their own insurance coverage?

Gary, I would strongly suggest that you not change your own insurance at your expense to put the deal together. If the yacht club makes unreasonable demands, have the event somewhere else. You can find a marina that will make room for the boats for the weekend, and you can find a restaurant that will provide you a room for a dinner, and only charge for the meals and gratuity. Be flexible. Nobody expects you to undertake any significant personal expense to put on the event. The participants will have as much fun socializing on the docks as in a nifty clubhouse. The people and the circumstances will make it a great event. The place is relatively unimportant.

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Gary B.
Admiral

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USA
969 Posts

Response Posted - 01/06/2004 : 00:04:12

Thanks, Steve. I will take your advice seriously, as I always do. I am still trying other venues before I jump into a new homeowner's policy. You are correct, of course, about socializing on the lawn, etc., but since this IS the Pacific Northwest, there is no guarantee of great weather. If it turned lousy, the clubhouse would be a good bet. It is just RIGHT there, within feet of the slips that the marina has reserved for us gratis.

The deal is that the Clubhouse is NOT operated by the marina itself. Also, I am working on sponsorships all the time. If I can get a few big outfits to kick in a few bucks each, this will still be easily within reach! Thanks again!

Gary B.
Encore! #685 SK/SR

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Sunshine Daydream
1st Mate

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57 Posts

Response Posted - 01/06/2004 : 11:33:01

Gary,
Have you spoken with their insurance agent directly to see what their policy already covers and about a possible rider?

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Doug
Captain

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USA
457 Posts

Response Posted - 01/06/2004 : 12:50:51

Also don't assume your homeowner's would cover everything. Many/ most policies exclude damage to property rented to the insured (you're renting the clubhouse, for accidents happening a an organzed race, for any business pursits, ect. I'd think your HO would only cover you, but not the association or the clubhouse. The club should have more than enough coverage. Most yacht clubs routinely rent their property. The Association putting on the event should have liability coverage taht wouldl come into play. If the association doesn't have insurance, they need to get it.

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DougA
1st Mate

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USA
73 Posts

Response Posted - 01/07/2004 : 20:46:44

Have you checked with Boats US, West Marine or USSail? They should offer event insurance. The man who handles our club insurance is out of town for two weeks but when he gets back I'll see what he has to say. You can email me direct if tou like.

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The Officers, Staff and members of this site only provide information based upon the concept that anyone utilizing this information does so at their own risk and holds harmless all contributors to this site.