As the owner or manager of a marina or yacht club, you may be seeking to diversify your income sources by providing new services to your customers. The rental of personal watercraft, or PWC, is becoming an increasingly popular option, but introducing this service brings with it a host of new risks for which your business may be held liable. Having the correct pwc rental insurance is essential to mitigating these risks. Source: merrimacins.com
Assessing the Dangers: Causes of PWC Accidents
When running a PWC rental business, it is almost impossible to know the experience level of your customers and this is important. For example, according to the National Transportation Safety Board, 48% of those injured in PWC accidents had never before operated one of these vessels or had only done so once. In 2018, moreover, the US Coast Guard reported that operator inexperience was the second leading cause of PWC accidents.
Meeting the Risks: Watercraft Coverage
Your marina or yacht club probably already has a premises liability policy, which will protect you from accidents that occur while customers arrive or depart. However, this policy does not cover the injuries sustained during misadventures on the water. Likewise, a hull policy only covers damage to the vessels during the rental. Having a watercraft policy, which will protect you from claims of bodily injury incurred while operating your rentals on the water, will ensure that you are able to provide your customers with fun on the waves for years to come.