Golf is a popular sport, with over 50 million adults playing it over the last year. Gold is a relaxing and refreshing way to enjoy yourself and keep your body in shape. When having a good time on the golf course, you might not know that you are protected by an insurance policy; golf course insurance. If you own or operate a golf course, getting golf course insurance is crucial because it helps in case of disasters. This insurance cover helps you make repairs and lets you stay solvent.
This guide gives deeper insights into golf course insurance and its importance. We will also discuss what it covers and the cost of purchasing it. To make things easier for you, we will also mention some of the best golf course insurance companies.
Golf Course Liability Insurance
Golf course insurance coverage protects your business against third-party claims due to damages. Cases of personal injury, property damage, unintentional bodily injury, or advertising injury to third parties can result in claims against your business. It is vital to have golf course liability insurance due to the high number of visitors the golf course receives. Vendors, customers, and other individuals are at risk of slip-and-fall accidents.
They could also sustain injuries from golf cart collisions or wayward golf shots. While the players are partly responsible for the injuries due to their participation in the game, you should defend yourself in case of a lawsuit. Golf course insurance covers all the legal fees, including settlements. This protects your business from financial losses. It is important to note that golf course insurance also covers third-party property damage or bodily injury. For instance, if your golf course offers food services or sells other equipment, you could be liable for injuries or illnesses sustained.
Furthermore, golf course insurance protects your business against lawsuits based on non-physical injuries. This includes cases of slander, libel, copyright infringement in advertising, among others. Also, golf course insurance offers financial protection when one of your employees damages a customer’s property.
What It Covers
Here are some of the cases golf course insurance covers;
- Lawsuits: This insurance policy covers any lawsuits your golf course faces. It pays for a lawyer for court proceedings and pays the settlements in case you are found liable. This is important because it prevents unnecessary experiences that hurt your finances.
- Theft and Vandalism: Like any other business, your golf course business could suffer the effects of theft and vandalism. Thugs could break into your golf course and steal valuable equipment, resulting in losses. Golf course insurance protects against such cases.
- Natural disasters: If vehicles, buildings, or the course are damaged by hailstorms, wildfire, or any other natural disaster, this insurance covers you. You won’t spend anything out of your pocket to replace or repair damages. This is crucial because it helps you get back on your feet in no time.
- Work-related injuries: If any of your employees sustain injuries while working on your golf course, a worker’s compensation policy will help carter for their medical expenses. This underlines the importance of golf course insurance because you won’t spend much money on medical bills. It also helps you save time.
Golf Course Insurance Cost
The average cost of gold course insurance is $400. However, the cost varies from one golf course to another, making it hard to estimate accurately. Depending on the size of your golf course, you should budget for around $500 monthly and a few thousand dollars per year. High-end and prestigious golf courses could need tens of thousands of dollars for insurance.
It is also important to note that several factors affect the cost of golf course insurance. Some of these factors include the location of your golf course, its size, its vulnerability to disaster and crime, and the replacement cost of equipment and buildings. Some insurance companies also ask whether or not you sell alcohol when calculating the cost of your insurance cover.
Best Golf Course Insurance Companies
So, you have seen the importance of golf course insurance and decided to purchase one for your golf course business; which insurance company should you work with? This is a challenging question that most golf course owners want to know its answer. There are many insurance companies offering golf insurance, but not all are good for you. For that reason, we have researched a few companies that offer excellent golf course insurance coverage. Here are some of those companies;
1. Westfield Signature Insurance
Westfield Signature Insurance is an established insurance company with many years of experience. It has been in operation for over 70 years. What makes this insurance company ideal for golf course insurance is that it started as a country club. This means they know what policies work best for a golf course and offer them at the best prices.
Westfield Policy Details
This insurance company offers crucial protection against damaging lawsuits. It also offers tailored golf course insurance for the golf market. The company’s claims team is only a call away, making them reliable for claim responsiveness. They also offer general golf course insurance that covers claims from third-parties.
Pros
- Coverage for clubhouse furnishings
- Fast claim responsiveness
- Affordable
Cons
- Not available in all states
Average cost: $400
Best for: established golf courses
2. All Sport Insurance
This insurance company is based in the UK. Having been in existence for over four decades, All Sport Insurance company prides itself in providing comprehensive insurance cover for all sports-related businesses. Golf course insurance is this company’s speciality, making them one of the best in the industry. They offer insurance cover to golf clubs of any size, whether small or established ones.
All Sport Policy Details
All Sport has a unique insurance policy for golf courses. Its policy is tailored to cover exactly what you need in your golf course. For instance, you can purchase an insurance policy for vehicles, fairway, clubhouse, and greens.
Pros
- Easily reachable claims line
- Flexible monthly payment options
- Includes pro shop coverage
Cons
- Claim responsiveness could be slow
Average cost: $ 350
Best for: multi-purpose golf courses
