Whether you offer kayaking, ziplines, or guided tours, there’s one thing that all tourism industry operators have in common: They get to have a lot of fun on the job!
But as the owner of a travel and tours business, however, even with your days of excitement and adventure, you still have all the very real concerns of running a small business. You have to cover payroll, you have to manage employees, and, depending on your exact product or service, safety standards is always top-of-mind.
High-quality tourism company insurance can give you peace of mind while also helping you protect your company from unforeseen and/of fortuitous losses.
The 3 Types of Tourism Company Insurance That You May Wish to Consider
1. Commercial Property Insurance
Chances are that as a tourism business, you’ve got certain pieces of equipment that your company simply couldn’t function without.
Whether you own kayaks, lifejackets, and canoes or you’re a souvenir shop that sources its own inventory, if a fire were to break out or your business property were to be damaged by some other form of insured peril, chances are that replacing everything out-of-pocket would put a lot financial strain on your business.
With commercial property insurance, it’s possible to replace equipment without having to dip into your personal or professional savings.
2. Cyber Liability Insurance
With data breaches, hackers, and identity theft becoming fairly prominent topics on the news, it’s more important than ever for businesses to be extra careful with client information. It just takes one cybersecurity incident for personal information to fall into the wrong hands.
But cyber liability coverage isn’t just there for data privacy breaches. It can also cover situations like cybercrime, cyber extortion or the accidental sending an email that’s been compromised with a virus.
Because many travel and tours businesses allow customers to book online, cyber liability insurance is a coverage option that can enhance safety risk control on both sides of the transaction.
3. Commercial General Liability Insurance
If your business relies in part or in whole on vigorous outdoor activities like skiing or wilderness tours, rock climbing, there’s a chance that a customer could suffer a minor or serious personal injury. And even if your business is not that adventurous and all you have is a store, a customer can fall on a wet floor and put your company at risk of a lawsuit.
CGL insurance is primarily known for its ability to cover slip and fall-related litigation. But the truth is that coverage can also extend to false advertising claims and accidents. That’s why for many businesses, CGL insurance is one of the first insurance options that they bring up with their brokers.
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Here’s Why You Should Hire Commercial Insurance Experts For Your Tourism Company Insurance Needs
When it comes to tourism company insurance, companies have to walk a fine line. On the one hand, you don’t want to be underinsured and unable to get the benefits of coverage when you need them. But at the same time, being overinsured can leave you and your business paying more than you need to for years on end.
An insurance broker can help you navigate your options until you’ve found a plan that works for you. Contact an ALIGNED broker today and get a FREE quote. We’re here to help!
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