Country club insurance sounds like fun, doesn’t it? Well, there are several challenges that you will have to confront in order to get reliable insurance of this type:
- Time constraints. You are probably already quite busy with your country club as it is, and going out to look for insurance might not be an easy matter.
- Outdated information. Make sure your country club keeps its books up-to-date so that your premiums won’t be any higher than necessary. For example, if you fired some employees last year but never properly registered their dismissals, you might have a harder time getting insured.
- Lack of knowledge about insurance – after all, it probably didn’t require an accounting class for you to qualify to become a country club.
You must try to overcome these obstacles in order to get good (or better) insurance coverage. If you’re looking for golf club insurance, ask yourself these questions:
- Does the prospective insurer specialize in club insurance, or at least have experience dealing with this kind of coverage?
- What kinds of workers’ compensation plans does the insurer have?
- What are the insurer’s ratings like (see A.M. Best’s ratings online)?
- Does the insurance company offer you a personal broker to help you with every claim?
- Will your premiums be below or above $50,000? If below, check out Safeco; if above, look at Zurich.
- What special options can the insurer offer you as far as golf clubs go? Golf clubs have certain unique qualities and needs. For example, the greens on your course need extra care and attention. If they are damaged accidentally, will the insurer cover them completely?