There are plenty of perks that come along with operating a business near a large body of water. For one, you have the opportunity to rent out personal watercraft like jet skis to those looking for a little bit of fun on a beautiful day. Naturally, such a business can involve a ton of liabilities. In order to keep your company protected, you absolutely want to give yourself time to learn what makes for the best insurance coverage for your industry.
Basic Coverage Points
The main point to understand about PWC coverages is that there are plenty of risks involved due to the nature of the service. You’re handing over the keys to personal watercraft that customers will have to use in a safe and responsible way. Even if they do adhere to all the regulations, accidents can and will happen. If you don’t have coverage in place, you leave yourself and your business open to an array of detrimental problems that could put your company under. When taking out insurance, be sure to consider:
- Type of PWC being rented
- Coverage in the event of third-party accidents
- Policy limits
Renting Out PWC
Though it can be a risky industry, there are plenty of reasons to think about renting out PWC. Review the insurance requirements to be sure you are ready for whatever the future has in store.