If your business operates on the waterfront, you probably don’t need to be told that there is a lot of money in making short-term watercraft rentals available to visitors. Some companies are built entirely around making a variety of rental options available for individuals and groups. For others, short-term rentals add an income stream to another profitable business like a marina. Whether your company focuses primarily on rentals or offers them as a feature among other options for clients, you need the right insurance to cover this kind of business, because your risks and your business model are quite different from most other companies operating on the water.
Unique Coverage for the Needs of a Unique Business Model
Jet ski rental insurance goes beyond general liability insurance to protect against the specific risks you face when you rent out watercraft to customers who then use it without direct supervision. It needs to cover your liability in the event of an injury or property damaging accident due to mechanical failure, as well as any third-party liability local and state laws assign to you as the equipment owner if a customer causes an accident. You’ll also need risk insurance for your rental gear and other equipment used to care for it, as well as other common forms of coverage for employers. It’s a complicated web of coverage, but an experienced insurance carrier will know how to weave the perfect policy for your rental business.