General liability – Covers legal expenses in case of a lawsuit.
Liquor liability – Covers legal expenses specifically related to serving alcohol, like drunk driving cases.
Directors and officers insurance (D&O) – Protects board members and other top officials in your organization from legal action if the actions they took on your behalf resulting in a lawsuit.
Commercial property – Protects structures and other belongings, such as furniture, in the event of a natural disaster or additional damage.
Flood insurance – Covers flood damage that isn't covered by standard commercial property insurance.
Commercial auto insurance – Covers vehicles in the event of accidents, such as service trucks or courtesy cars.
Inland marine insurance – Includes moving machineries such as lawn tractors or golf carts. It may also include distinctive features of the course, such as trees, that aren't covered by commercial property insurance.
Workers' compensation – Covers worker expenses if they are injured on the job.
It's smart to change your coverage over time as your needs change, which an independent insurance agent can help manage. Larger courses, for instance, will require extra insurance, particularly if you wish to organize special events like weddings or competitions.
Here are a few examples:
If you are sued, liability insurance will cover the cost of an attorney, shielding your golf course from having to foot the bill for hefty settlements.
If one of your employees gets wounded on the job, workers' compensation may be able to pay for everything from a sprained ankle to a terrible burn. Doing this saves you from needing to pay for costly medical bills and time off work.
Insurance has you covered if your buildings, equipment, vehicles, or green are damaged in a wildfire, hailstorm, or another natural disaster.
Theft & Vandalism:
As with natural disasters, insurance has you covered if your course targets thieves, vandals, and even rioters.
Insurance is a requirement if you want to hold weddings, competitions, or fundraisers at your course. Liability insurance protects you from lawsuits arising from unfortunate incidents, while commercial property insurance enables quick emergency repairs.
In conclusion, there are several reasons to purchase golf course insurance, but only two may be used to argue against doing so: time and money spent on premiums. But in the end, those are a tiny price to pay for your golf course's long-term viability and security.
Contact us today to know more about the various options you have when it comes to golf course insurance.