Yacht Club Gains Millions in Insurance Coverage at Minimal Cost
Hylant helped this client strengthen its insurance program without significantly increasing its insurance cost.
Challenge
A mid-sized yacht club with multiple docks, buildings, and sailing programs had fragmented insurance coverage. Key exposures—like docks, pollution, and legal liability—were either missing or misclassified, and property limits were outdated. Coverage was spread across several carriers, causing inefficiencies in claims and renewals.
Recognizing the need for a more strategic approach, the club engaged Hylant to assess the program and enhance protection without significantly increasing costs.
Solution
Hylant’s marine insurance advisory team delivered a comprehensive, cost-effective solution through a full coverage audit. Key improvements included:
- $3M in docks coverage to address previously uninsured infrastructure
- Proper placement of yacht club legal liability for tailored protection
- Updated property limits with inflation guard to reflect replacement costs
- Marine pollution liability coverage to address environmental risks
Additional enhancements included:
- 24/7 pollution spill response access, including coordination with state and federal agencies to mitigate fines and penalties
- Program consolidation under a single carrier, improving claims handling, administrative efficiency, and maintaining premium stability
With the right marine insurance partner, smarter coverage drives better outcomes.
Results for the Client
Cost-Effective Coverage
Achieved a $4M increase in total coverage while the annual premium rose by only $722, delivering exceptional value
Program Efficiency
Consolidated coverage under one carrier, streamlining claims handling and reducing administrative burden
Strengthened Protection
Closed critical coverage gaps and added access to a 24/7 pollution spill response team
Trusted Advisors
Hylant team members are ready to advise you and help you confidently address your needs.
