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If you operate a canoe or kayak rental business, it’s important to have the right insurance coverage. It’s crucial if the accident happens. canoe rental insurance, can provide coverage for various situations, from liability claims to damage to rental equipment.
Whether you’re just starting your business or looking to update your insurance coverage, this guide can help you make an informed decision.
General Liability Insurance for Canoe and Kayak Rentals
General liability insurance for kayak rental business provides coverage for bodily injury, property damage, and advertising injury. If someone is injured while using your rental equipment or if their property is damaged, general liability insurance can help cover the costs.
There are a number of specific situations and incidents where this kayak rental liability insurance can help protect your business. For example:
- If a customer is injured while using your rental equipment and sues your business for medical expenses or lost wages, general liability insurance can help cover those costs
- If a customer’s personal property is damaged while using your rental equipment, such as a camera or smartphone, general liability insurance can help cover the cost of repairs or replacement
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $300,000/$1,000,000 | $1,000,000/$2,000,000 |
| Aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000/$2,000,000 |
| Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Tenant’s legal liability coverage limit | $100,000 | $100,000 | $5,000 | $100,000 | $1,000,000 |
| Waiver of subrogation included? | Yes | No | Included | Can be included | No |
| Hired/non-owned auto liability coverage included? | Yes | No | Excluded | Can be included | Can be included |
| Equipment breakdown floater included? | No | Yes | Yes | Can be included | Can be included |
Public Liability Insurance for Kayak and Canoe Rentals
Public liability insurance is another type of insurance that provides coverage for bodily injury and property damage.
However, this canoe hire insurance specifically applies to incidents that occur in a public setting, such as a park or waterway. Specific situations and incidents where public liability insurance can help protect your business are:
- If a customer is injured while using your rental equipment in a public space, such as a lake or river, public liability insurance can help cover the costs of medical expenses and lost wages
- If your rental equipment causes damage to public property, such as a dock or buoy, public liability insurance can help cover the cost of repairs
Business Owner’s Policy for Canoe and Kayak Rentals
This insurance policy combines multiple coverage types into a single policy for small business owners. It usually includes general liability insurance and property insurance. BOP can help in several specific situations, such as:
- Accidents or injuries that occur on the rental property, such as slips and falls or equipment malfunctions
- Damage to rental equipment or property caused by natural disasters or theft
- Lawsuits or legal claims filed against the business for alleged negligence or other liability
| CoverWallet | NEXT (Best) | Thimble | The Hartford | Hiscox | |
| General liability aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 |
| Commercial property coverage limit | $50,000 | $320,000 | $25,000/$500,000 | $35,000 | $75,000 |
| Optional policies can be added? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds for free? | Yes | Yes | Yes | Yes | Yes |
| BOP discount? | Yes | Yes | Yes | Yes | Yes |
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Tools and Equipment Insurance for Canoe and Kayak Rentals
This insurance covers the tools and equipment used in a business. For canoe and kayak rental businesses, this includes canoes, kayaks, paddles, life jackets, and any other rental equipment. Some specific situations where tools and equipment insurance can help canoe and kayak rental businesses include:
- Damage to rental equipment caused by accidents or natural disasters
- Theft or vandalism of rental equipment
- Loss of income due to the business being unable to rent out equipment due to damage or loss
| NEXT | Thimble | Hiscox | |
| Aggregate limit | $3,000/$10,000 | $2,500/$5,000 | $15,000/$25,000 |
| Covers hired and borrowed equipment? | $3,000/$10,000 | $2,500/$5,000 | No |
| Miscellaneous equipment also covered? | $5,000/$10,000 | No | Yes |
| Offered as an endorsement to general liability insurance? | Yes | Yes | Yes |
| Deductible | $500 | $500 | $0 |
Workers Compensation Insurance for Canoe and Kayak Rentals
Workers compensation insurance is a type of insurance that provides coverage for medical expenses and lost wages for your employees who are injured or become ill as a result of their work.
This includes coverage for injured employees while performing tasks such as loading and unloading rental equipment or assisting customers with rentals.
Canoe and Kayak Rental Insurance Cost
The average canoe and kayak rental insurance cost is $30 per month or $360 per year for a $1 million general liability coverage. Factors that affect the cost of canoe and kayak rental insurance may include:
- Type and level of coverage: The more comprehensive your insurance coverage, the higher your premiums will be
- Business size: Larger businesses with more employees, equipment, and assets to protect will generally have higher insurance premiums
- Location: Insurance rates can vary based on the geographic location of your business, including factors such as crime rates, natural disaster risks, and regulatory requirements
- Claims history: A history of insurance claims can result in higher premiums, as it suggests that your business may be more likely to experience accidents or incidents in the future
- Deductible: Choosing a higher deductible can lower your premiums, as
| Cost per Month | Cost per Year | Deductible | |
| General liability insurance | $30 | $360 | $0-$500 |
| Commercial property insurance | $34 | $408 | $500-$1,000 |
| Business owner’s policy | $64 | $768 | $1,000-$2,000 |
| Workers comp insurance | $80 | $960 | $1,500 |
| Tools and equipment insurance | $100 | $1,200 | $500-$1,000 |
- you will be responsible for paying a larger portion of any claims that arise
Here’s another table showing the canoe and kayak rental business insurance cost of the best companies as determined by their $1 million general liability coverage.
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Ways to Lower Canoe and Kayak Rental Business Insurance Cost
- Bundling policies: Many insurance providers offer discounts for businesses that bundle multiple policies, such as General Liability Insurance and Property Insurance.
- Safety measures: Implementing safety measures, such as employee training programs and equipment maintenance protocols, can help reduce the risk of accidents and injuries, which can lower insurance premiums.
- Risk management: Mitigating risks and preventing accidents and incidents can help lower insurance costs.
Best Canoe and Kayak Rental Insurance Companies
NEXT
NEXT is a technology-driven company providing small business insurance solutions. It was founded in 2016 and is headquartered in Palo Alto, California.
Next offers a range of insurance products, including general liability insurance, professional liability insurance, commercial auto insurance, and workers’ compensation insurance.
Average cost: $11 per month
Our rating: 10/10
Pros
- 25% discount for bundling different products
- Instant access to the insurance certificate
- A+ rating from the Better Business Bureau (BBB)
- Highly rated by customers on multiple review sites
Cons
- Couldn’t find any
CoverWallet
CoverWallet is a digital insurance platform founded in 2015 that offers various insurance products for small businesses.
They offer bundled insurance options for better protection, including the option to bundle canoe and kayak rental insurance with general liability insurance.
Average cost: $40 per month
Our rating: 10/10
Pros
- Customized insurance packages based on the needs of the business.
- Easy-to-use digital platform for purchasing and managing insurance policies.
- Multiple insurance carriers to choose from.
- Quick and easy online application process.
- Ability to add or modify policies as the business needs change.
Cons
- Not an insurance company but an insurance broker
The Hartford
The Hartford is an American insurance company founded in 1810 and headquartered in Hartford, Connecticut. They have a high policy limit allowing you to cover more if you need it.They Offers specialized coverage for various industries, including canoe and kayak rental businesses.
Average cost: $45 per month
Our rating: 10/10
Pros
- High financial strength ratings from major rating agencies.
- Provides a wide range of insurance products for businesses.
- Offers discounts for bundling multiple insurance policies.
Cons
- Higher premiums compared to some other insurance companies.
Compare Cheap Canoe and Kayak Rental Insurance Quotes Online
Get all the best quotes from leading providers in a click of a button!
Thimble
Thimble is a digital insurance provider that offers on-demand insurance policies for various small businesses. The company was founded in 2016 and is headquartered in New York City. Thimble offers short-term insurance.
Average cost: $47 per month
Our rating: 9/10
Pros
- Flexible policies: Thimble allows businesses to purchase insurance coverage by the hour, day, or month, which can be useful for seasonal or on-demand businesses like canoe and kayak rentals
- If you terminate an insurance agreement, you can receive reimbursement
Cons
- It is not possible to contact customer service through a phone call
Tivly®
Tivly® operates as a digital platform that provides on-demand insurance for various small businesses, including canoe and kayak rental businesses.
Tivly® offers a range of customizable insurance policies that can be purchased online, making it easy and convenient for small business owners to obtain the coverage they need.
Average cost: $30 per month
Our rating: 8/10
Pros
- Get insurance quotes for canoe and kayak rentals over the phone and compare them
- Customize your insurance coverage according to your needs
- Receive prompt and helpful customer service
- If they can’t offer you the necessary coverage, it will connect you with partner insurance providers.
Cons
- No online quoting
Hiscox
Hiscox is a global insurance company that was founded in 1901 in Bermuda. The company offers a wide range of insurance products to businesses of all sizes, including canoe and kayak rental businesses.
Hiscox offer customizable insurance policies that can be tailored to meet the specific needs of each business.
Average cost: $30 per month
Our rating: 8/10
Pros
- 14-day refund policy with money-back
- Offers a variety of additional resources and tools to help businesses manage risk and prevent incidents
- Small business-focused
- Experts with liability insurance
Cons
- Coverage options not available in Alaska
