What Are Liability Concerns For Renting Kayaks?
The risk of injury when kayaking is high. According to the USCG Recreational Boating Statistics, there were 94 fatal kayaking accidents in 2017. This is why liability for kayaking accidents falls on the manufacturing or rental company, as well as on the kayak’s passengers, who may be careless or not fully understand the risks involved. The rental company can limit its liability by including a waiver stating that renters understand the risks associated with kayaking and have the proper health and fitness. 2 person fishing kayaks
Whether you plan to rent kayaks to individuals or businesses, insurance is necessary for your business. In general, insurance covers your business from claims of personal injury and property damage. You’ll also need to have business and property insurance if you hire employees or expand your business. Insurance is also required for personal vehicles used in the business. Depending on your business’s size, you may want to consider purchasing specialized kayak insurance or a comprehensive insurance policy.
Purchasing insurance for your kayaks is crucial for your peace of mind. The cost of kayak insurance can be extremely high if an accident occurs, and you’ll want to make sure you’re covered by insurance. The insurance policy for kayaks should cover the cost of repairs or replacements, even if the damage is minor. Most rental companies carry insurance policies for kayaks, and the policy can be added as an extra rider to your existing policy.
Insurance for your business may be required by state law if you own a watercraft business. It should also protect you financially from bodily injury or property damage claims. A simple day on the lake can turn tragic after a canoe capsizes. Legal costs and medical bills can be devastating. This is why it’s essential to have adequate insurance coverage for your business. And if you’re a small business, you should consider investing in professional liability insurance or LLC insurance if you have a business structure.