Watercraft rentals in coastal areas are a tremendously popular activity for both tourists and locals alike, and businesses who conduct rentals are well-positioned to draw in excellent revenue. In order to be profitable, a business needs to provide renters with a great experience while also minimizing their overhead costs. It’s also important that they safeguard their operations by obtaining comprehensive insurance coverage to address any potential damage to their property or liability to third parties.
Personal Watercraft Coverage Inclusions
Ideally, PWC coverage should include protection for both your company and the individuals who are renting them. This will save you from having to pursue damages from customers who likely won’t have their own insurance for PWC use. People will have peace of mind renting from a company that can offer them insurance protection.
In addition to covering the value of your rental fleet against possible damage, you have to be prepared to cover damages that are sustained by third parties. You’ll need a policy that will address property damage or personal injuries resulting from a renter’s use of your PWCs.
Insurance coverage is an integral part of a PWC rental company’s risk management plan. Work with an experienced insurance company that can help you build a package policy that will fully cover your business’ activities.