On December 12, 2015 a blaze ripped through the Annapolis Yacht Club in Maryland. There were employees working at the time of the incident, and thankfully all were able to get out in time. Some 90 firefighters fought to put out the flames, and it has been estimated that at least nine million dollars of damage was done.

Most organizations cant afford to lose several million dollars in one night, so insurance programs for marinas provide the needed backing. The cause of the Annapolis fire is not an unsolved mystery. Early reports and later investigations reveal that an assembly of Christmas lights and an extension cord were to blame.

The assets of club members is another consideration. When disaster strikes, it doesn’t discriminate about who owns what property. Members whose yachts are damaged are likely to sue the marina in hopes of recovering such losses. Insurance programs for marinas can offer coverage to reimburse both club owners and members for what was lost.

Each marina is unique and many have rich histories behind them. In a similar way, each boat is the prized possession of someone. Precious assets can be wiped out during a single fire, storm or other disastrous event. Having the backing of a reputable insurer is the only way to protect against such risks.