The golf course looks like nothing more than a place to relax and have some fun. And it is, for those who use the facilities. But for those who own and operate a golf course, no matter the size, risks are present. The right type of hospitality insurance can help a golf course owner protect his or her investment and help keep the club open even when a risky situation takes place. It's important to consider the assets on your course and how to minimize risks.
What Risks are Present?
Golf courses, like most other businesses, are at risk from a variety of scenarios. It's hard to know what will happen, so protecting against various risks is often advisable. This may include protection from fires and theft. It may include protection from slips and falls, accidents related to golf carts or even accidents that happen in your clubhouse. You should also consider business insurance that protects your company should it be temporarily closed due to a covered event.
What Physical Assets Need Coverage?
Property insurance should be in place to cover all aspects of your property. Any structure on your property should be considered for protection. This includes:
- Clubhouses and buildings
- Sprinkler systems and drainage systems
- Your maintenance equipment
- Your golf carts and tractors
- Your retail merchandise
- Your computer equipment
Protecting the actual business' assets is one of the most important types of protections available to golf course owners. No matter if you have a small club or one with a fitness center, rec room and even a large clubhouse, you need ample insurance protection in place.
Protecting from Liability Risks
Another area of risk for any golf course has to do with liability. Liability golf course insurance should protect anyone who is on your program. While workers compensation insurance protects your employees from injuries, you still need to have protection in place for customers and visitors. Should a golf cart accident occur or someone be injured by a swinging club, your organization may be liable for the resulting damages. Because of the size, the number of people visiting these locations and the fact that it does involve equipment, liability coverage should be an important consideration. Talk to your agent today about the amount of coverage that’s ideal for the size and type of course you have.
Hospitality insurance can help you to obtain all of the necessary protections for your golf course. Updating this insurance regularly is also advisable. And, of course, this is only one type of business insurance for your company. You may also need additional coverage to keep it functional. A single risk or lawsuit to a golf course can result in millions of dollars’ worth of loss. However, with the right type and amount of liability insurance, you don’t have to worry about these excessive risks and you can operate your facility with peace of mind.