Rental Insurance for Your Marine Business

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Whether it is your core business or just one service among the many provided, companies that rent personal watercraft to the public have insurance needs that are unique. There are parts that are similar to other short-term rental businesses like car sharing or bike rentals, but there are other parts that are only needed by waterfront businesses. That’s why it’s a good idea to look for a personal watercraft rental insurance program built to serve your needs.

One Stop for All Your Business Coverage

While your business model is unique, thankfully most rental companies that provide that service alone do have straightforward insurance needs. If you also need to cover the rest of a business like a marina or yacht club, most programs are also part of larger specialized marine insurance companies, so it isn’t hard to bring together a few of their offerings to suit your needs. Watercraft rental companies should have at least these coverage areas handled, though:

  • Hull coverage to protect your investment in the equipment that makes you money
  • Personal watercraft coverage similar to boater’s insurance or vehicle coverage, to take care of bodily injury or property damage due to an accident while a customer is renting a craft from you
  • Permises and general liability coverage to protect you from basic liability issues that could cost you a lot

If you have employees or commercial vehicles like shuttles, you may also need additional coverage. To find out more, talk to a personal watercraft rental insurance program’s representatives about getting a quote.

Categories: Insurance
This post was written by , posted on February 7, 2022 Monday at 8:57 pm