Legal Question in Personal Injury in Pennsylvania
Liability Insurance for Club with little assets
Our sailing club is debating whether to get liability insurance. We own no boats or docks and do not sponsor races. Annual dues cover costs of newsletters and some social activities. We hold picnics at a lake. Members bring their personal boats. Typical balance in club account is $2000. Do officers of club have personal assets at significant risk without liability insurance? We may have been incorporated in the past, but I do not know if incorporation is considered current.
2 Answers from Attorneys
Re: Liability Insurance for Club with little assets
"We hold picnics at a lake."
We recommend speaking to an insurance agent. There is all sorts of risk associated with kids and lakes and picnics. You want to protect your members and officers, plus if a terrible tragedy occurs, you want to be in a position to make it right. There are specialty insurance lines for boat clubs, and given your limited activities, you should be able to find an underwriter with a reasonable price.
Re: Liability Insurance for Club with little assets
I agree with the prior answer. The members and officers run a substantial risk without insurance, especially if the Club has not be operating as a real corporation, eg holding official meetings. My guess is an adequate ins policy will not be too costly. You can get a quote by contacting an ins agent who has helped many of my clients - Wm Griffin- 6102779202. I would suggest liability limits of at least $1M. Good luck!!
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
