Canadians Love Camping and RVing
It’s no secret that Canadians love to take advantage of the spring, summer and fall by getting outside. Some 24% of Canadians reported camping in the previous year (2016 Census), and there are over 2,500 RV Parks and Campgrounds across the country that cater to these outdoor enthusiasts. Owning a piece of this recreational market is a dream come true for many business owners as it allows them to live a lifestyle they love and support others in doing the same.
As the owner of one of these thriving businesses, you have to deal with specific and complex risks to protect your business from possible insurance claims. Do you have the right coverage for your RV park and campground?
Why Do Campgrounds And RV Parks Need Insurance?
You welcome the public to your business for summer fun, and your customers look forward to their trips all year long. Having people on-site at your RV park and campground presents various risks to you as a business owner.
Protecting yourself from possible claims can be daunting. Still, by working with an ALIGNED insurance specialist, you will be able to pinpoint your areas of risk and implement the appropriate coverage. You have to consider visitors, staff, and other factors when planning your insurance package. Campgrounds and RV Parks require protection against possible damages, theft, property damage, and third-party liability claims for bodily injury and property damage. The exact coverage your business needs should be tailored to fit its unique characteristics.
What Coverage Should I Consider For My RV Park And Campground Business?
All campgrounds and RV Parks should have Commercial General Liability coverage as part of their insurance coverage, given the nature of their business in welcoming the public to stay at their facilities. For instance, commercial general liability insurance for campgrounds and RV Parks protects against lawsuits stemming from bodily injury and property damage incurred by third parties on your business property or while operating your business. Otherwise known as “slip-and-fall” coverage, this one should form the foundation of your insurance program. This insurance typically also covers legal fees and medical expenses related to these types of incidents at your business.
What Other Coverages Are Required For A Campground And RV Park?
There are several other coverages that you should include, and some others may be needed based on your own business’ individual circumstances and amenities. Here are some common coverages for RV Parks and Campgrounds:
-Property Insurance – this coverage protects you against covered extreme weather events, as well as fires and theft, that can cause damage to your business’s physical property (including what is contained within your physical assets). A common add-on to commercial property insurance is Business Interruption Coverage to provide you with resources in the event your business has to close temporarily due to property damage.
-Cyber Insurance – this will cover your online assets, such as your website, online booking system, customer database, and stored files against data breach or loss.
–Equipment Breakdown Insurance – will cover you in the event of a breakdown of one of your large pieces of equipment from an insured peril like an electrical surge or pressure vessel explosion that is preventing part or all of your business from running.
-Additional typical insurance coverages for Campgrounds and RV Parks include Commercial Auto Insurance and Umbrella Insurance coverage, which applies in an extenuating situation when regular coverage is exceeded.
Find The Right Campground And RV Park Insurance From ALIGNED
ALIGNED works with Canada’s top insurance companies to provide custom insurance packages at affordable prices. Click Here To Get A Quote or contact one of our business insurance experts for information or with any questions you may have.