Marine-related facilities like docks, yacht clubs, and resorts along beach towns offer various water sports and rentals to their customers. One of these water sport services is seadoo rentals. Seadoo rental companies can have a lot of inventory and a lot of accompanying risk, both to their equipment and to their customers.
While seadoo rental companies often have waivers, safety instructions, and precautions, risks of damage and injury can still occur. For these rental companies in the recreational marine industry, having insurance is important to ensure they are covered against financial loss, liability, and litigation.
ALIGNED can help seadoo rental companies find suitable seadoo rental company insurance coverage for their shop.
Why is Seadoo Rental Company Insurance Important?
Seadoo rental companies carry a lot of inventory and provide recreational marine services to their customers. When their customers operate the seadoos, or when the seadoos are docked, loss and injury can happen despite precautions.
- A customer can incur bodily injury while operating one of the seadoos.
- A customer can get injured while on the premises of the seadoo rental company.
- A seadoo needs to be replaced or repaired after being damaged in an accident.
- The seadoos that are operating or docked can cause property damage to other vessels, docks, or marina infrastructure that surround the area.
Unfortunately, watercraft injuries and property damage are more common than you think and in the case of an accident, seadoo rental company insurance can protect the business and its owners against the costs and losses.
What Does Seadoo Rental Company Insurance Include?
Commercial General Liability Insurance – also called CGL insurance, provides coverage for injuries, bodily harm, and property damages occurring to a third party during your non marine business operations. For example, if a client is injured while on your premises, you are covered for lawsuits, losses, and medical expenses.
Hull and Machinery Insurance – covers insured vessels, such as their seadoos, against physical damage caused by a peril of the sea or another covered peril while the vessel is in transit over water.
Protection & Indemnity– is effectively liability coverage for vessels while being operating. This includes potential liability for bodily injury or damage to third party property associated with operating a seadoo or other vessel.
Commercial Property Insurance – your business relies on your building and equipment to operate successfully as a seadoo rental business. It’s important to ensure your assets are protected in the event of a building fire, vandalism, flood, or another insured peril beyond your control that can leave your property damaged.
Pollution Insurance – if the seadoos leak oil, gas, or other chemicals into the ocean, pollution insurance covers the costs of cleanup and legal liability.
Umbrella Insurance – provides additional coverage beyond the limits of the underlying insurance policy.
Get ALIGNED with the Safety Your Seadoo Rental Company Needs
ALIGNED works with Canada’s top insurance companies to provide custom insurance packages at affordable prices. Contact an ALIGNED commercial insurance specialist for a free quote, or use our free online tool.
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