If you own a boat rental business, you may have set it up to share your love of the waters with others. This may give you the chance to earn a living while doing something you love. You want to protect your business as much as possible, however. It’s important to understand what type of insurance is necessary to protect your assets.
Do You Need Boat Rental Business Insurance?
As someone who owns a business that rents out boats, you’re liable for any accident or injuries that occur while someone is riding one of your boats. This includes repair expenses as well as potential medical expenses. The insurance firm Merrimac states that “the responsibility to pay for the related medical bills, pain, and suffering, even lost wages—can all fall back on the business owner.” Unfortunately, those costs tend to be on the expensive side and you can quickly find yourself out of business if you aren’t careful.
With boat rental business insurance, you can protect your assets. This insurance covers damages and injuries caused by your boat. Additionally, it can cover repairs to your boat if a renter damages it in an accident. This will save you from having to pay out of pocket for these costs.
You deserve to keep doing what you love and sharing that passion with other people. Make sure that your business is covered so you can focus on the important things.