Running a boat rental business can be a lucrative and enjoyable career. For people who truly love being out on the water and want to share their enthusiasm for boating with others, it can be a dream come true. However, running a boat rental business comes with a certain amount of risk. This is where boat rental insurance comes into play.
Why Do You Need Boat Rental Insurance?
While you may do everything you can to make sure your customers are safe when going out on the water, things do happen and it is important to be prepared for the worst-case scenario. This is why it is important to look into boat rental insurance coverages to adequately protect yourself and your business.
What Types of Coverage Do You Need For Your Boat Rental Business?
There are a number of different insurance coverage options for people who run boat rental businesses. Some of the most common and important types are:
- Watercraft Liability Insurance: This type of insurance can help cover your business in situations where someone causes bodily injury or property damage with one of your boats.
- Premises Liability Insurance: This insurance provides coverage for accidents that occur on the property of your boat rental business.
- Hull Coverage: Hull coverage applies to physical damage that occurs to a boat’s hull, engine, or other equipment.
Running a boat rental business can definitely be risky. Make sure your business is protected and purchase boat rental insurance today.