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paddleboards are better than kayaks and canoes making them preferable to many. A paddleboard rental business lets consumers hire paddleboards for an hour or a day.
Like any business, paddleboard rental has risks. A neighboring boat rental company might sue for damages because one of your clients hit a boat while cruising on the beach or lake. That’s where paddle board liability insurance comes in Whether you are running a paddle board rental or SUP business, insurance is critical for covering liability and property-related risks.
This article discusses various policies, the cost of premiums, and the best companies.
General Liability Insurance for Paddle Board Rentals
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $2,000,000 | $1,000,000/$2,000,000 |
| Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 | $2,000,000 | $1,000,000/$2,000,000 |
| Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $2,000,000 | $1,000,000 | $1,000,000 |
| Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $2,000,000 | $1,000,000 | $1,000,000 |
| Tenant’s legal liability coverage limit | $300,000/$1,000,000 | $300,000 | $100,000 | $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 | No | Can be included | Can be included |
| Equipment breakdown floater included? | No | Yes | Yes | Can be included | Can be included |
| Can you get a certificate of insurance online? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Deductible | $0 | $0 | $0 | $0 | $0 |
Public liability insurance for paddle boarding is essential for businesses that rent paddleboards, covering potential third-party claims for injuries or damages.
In light to that, General liability insurance is a fundamental policy that covers potential third-party claims involving bodily injury, property damage, advertising, or personal injury. It protects paddle board rental businesses from common risks and accidents.
General liability insurance acts as 3rd party paddle board insurance, protecting your business from lawsuits due to accidents involving customers.
The coverage limits typically range from $1 million to $5 million, depending on the needs of the business.
Specific Situations Covered by This Insurance
- General liability insurance can cover medical bills, legal fees, and settlements or judgments if a paddle board renter is injured due to a defect or business negligence
- Rental paddle boards can harm personal property, watercraft, and docked vessels. General liability insurance covers repairs and replacements
- Third party insurance for paddle boarding covers legal claims and settlements if a paddleboard renter causes property damage or bodily injury
- Obtaining paddle board public liability insurance ensures that your business is safeguarded against common risks like property damage and injuries.
Commercial Property Insurance for Paddleboard Rentals
Commercial property insurance for paddle boards safeguards the physical assets of your paddle board rental business, including the building, equipment, and inventory. The following are specific situations covered by this insurance:
- Fire
- Theft
- Vandalism
- Weather
- Lightning
- Sinkhole collapse
The coverage limits for commercial property insurance depend on the value of your business assets and the level of protection you choose. However, the range can be between $50,000 and $3 million.
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
| Building coverage limit (minimum) | $50,000 | $260,000 | $25,000/$500,000 | $25,000 | $60,000 |
| Contents coverage limit (minimum) | $50,000 | $22,000 | $25,000/$500,000 | $25,000 | $60,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Excluded | Excluded |
| Accounts receivable | Excluded | Excluded | $5,000/10,000 | Included | Excluded |
| Money and securities | Excluded | $2,500 | $1,000 | Included | Excluded |
| Lock and keys | Excluded | $2,500 | Excluded | Excluded | Excluded |
| Business interruption floater | Excluded | Included | Included | Included | Excluded |
| Equipment breakdown floater | Excluded | Included | Excluded | Excluded | Excluded |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Included | Excluded |
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Business Owner’s Policy for Paddleboard Rentals
A BOP provides comprehensive paddle board business insurance, combining both liability and property coverage for a cost-effective solution.
It typically includes general liability insurance and commercial property insurance, providing a cost-effective solution for comprehensive coverage.
A business owner’s policy (BOP) for paddleboard rentals typically includes general liability coverage of $1 million to $2 million per occurrence and property coverage of $10,000 to $50,000, depending on the insurance provider and policy terms.
| CoverWallet | Thimble (Best) | NEXT | Hiscox | The Hartford | |
| General liability aggregate limit | $2,000,000 | $2,000,000 | $2,000,000 | $300,000 | $1,000,000/$2,000,000 |
| Commercial property coverage limit | $50,000 | $500,000 | $260,000 | $25,000 | $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 |
Tools and Equipment Insurance for Paddleboard Rentals
Tools and equipment insurance for paddleboard rentals protects the rental business owner from financial loss or damage to their paddleboards and equipment. Paddleboard rental firms need this insurance to cover theft, damage, and loss of rented equipment.
Paddleboard rental tools and equipment insurance coverage limits vary by insurance provider and equipment value. The limit can range from $5000 to $3 million.
| NEXT | Thimble | Hiscox | The Hartford | |
| Aggregate limit | $3,000/$10,000 | $2,500/$5,000 | $15,000/$25,000 | $5,000-$10,000 |
| Covers hired and borrowed equipment? | $3,000/$10,000 | $2,500/$5,000 | No | Yes |
| Miscellaneous equipment also covered? | $5,000/$10,000 | No | Yes | Yes |
| Offered as an endorsement to general liability insurance? | Yes | Yes | Yes | Yes |
| Deductible | $500 | $500 | $0 | $0 |
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Workers Compensation Insurance for Paddleboard Rentals
Paddleboard rental companies need workers’ comp. It protects business owners and employees from work-related injuries and diseases. This insurance covers medical expenditures, missed earnings, and rehabilitation for injured workers.
Worker’s compensation insurance limits vary by policy and state. Medical, rehabilitation, lost income, and disability compensation are usually included. The limit usually starts from $1 million to $ 5 million depending on the policy or state.
Paddle Board Rental Insurance Cost
The average paddle board rental insurance cost is $30 per month or $360 per year. Factors that affect premiums are claims history, business history, policy limits, deductibles, and location.
| Cost per Month | Cost per Year | Deductible | |
| General liability insurance | $30 | $360 | $0-$500 |
| Professional liability insurance | $40 | $480 | $1,000-$2,000 |
| Commercial property insurance | $50 | $600 | $1,000-$2,000 |
| Business owner’s policy | $70 | $840 | $1,500 |
| Tools and equipment insurance | $36 | $432 | $500-$1,000 |
| Commercial auto insurance | $55 | $660 | $500-$1,000 |
| Workers compensation insurance | $82 | $984 | $2,500-$5,000 |
| Excesss liability insurance | $39 | $468 | $500-$1,000 |
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Best Paddleboard Rental Insurance Companies
NEXT Insurance
NEXT is a reputable insurance provider known for offering comprehensive stand up paddle board insurance for businesses. This company’s general liability, commercial property, business owner’s policy, and other coverage options are available online.
Average cost: $21 per month
Our rating: 10/10Pros
- Best overall
- Issues an online proof of insurance instantly
- Fastest general liability insurance for paddleboard rentals
- Great customer service and reputation
- Excellent rates
- Outstanding value for money
- Get a 10% discount if you buy two or more policies
Cons
- Couldn’t find any
CoverWallet Insurance
CoverWallet is a highly regarded insurance provider that stands out for its streamlined online application process, making it a preferred choice for businesses seeking comprehensive insurance solutions. This company sells general liability, commercial property, commercial auto, product liability, and others with partners.
Average cost: $23 per month
Our rating: 10/10
Pros
- offers a free insurance assessment that can help you determine the insurance coverage that best suits your paddle board rental business
- easy to keep track of your coverage, make payments, and file claims
- With licensed insurance agents available to assist you, you can receive help understanding your policies and coverage
Cons
- As a broker, CoverWallet does not provide insurance directly; you must rely on its partner insurance companies to offer the coverage you need
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The Hartford Insurance
The Hartford is worth considering for businesses seeking comprehensive paddle board rental insurance. This company underwrites general liability, workers compensation, commercial property, and business owner’s policy. Hiscox can create specialized solutions if you’re a high risk customer.
Average cost: $27 per month
Our rating: 10/10
Pros
- Above-average customer satisfaction ratings for auto insurance
- Free benefits, such as new car replacement, included with AARP auto insurance policies
- Renowned company for workers compensation insurance
Cons
- Some customers have reported slower claims processing times
Tivly Insurance
Tivly offers competitive monthly prices, providing insurance solutions tailored to the specific needs of paddleboard rental businesses. With comprehensive coverage options, Tivly ensures peace of mind for owners in protecting their paddleboard rental ventures.
Average cost: $29 per month
Our rating: 8/10
Pros
- Innovative insurance solutions designed specifically for the needs of paddleboard rental businesses
- Flexible coverage options that can be customized to meet individual requirements
- User-friendly online platform for quick and convenient policy management
Cons
- Pricing may vary depending on business size, location, and coverage needs.
Thimble Insurance
Thimble offers flexible coverage options designed for the unique needs of businesses. With their on-demand policies and quick application process, Thimble Insurance provides convenient and tailored insurance solutions for paddleboard rental businesses.
Average cost: $31 per month
Our rating: 8/10
Pros
- Flexible coverage options tailored to specific business needs, allowing you to customize your insurance policy
- Instant coverage activation with digital certificates, providing immediate proof of insurance
- Transparent pricing and no long-term commitment offer small businesses affordability and flexibility
Cons
- Coverage availability may vary by location and business type, limiting accessibility for certain industries or regions
Hiscox Insurance
Hiscox provides specialized insurance for paddle board business, offering comprehensive coverage to protect against risks and liabilities unique to the industry. With their tailored policies, paddle-board business owners can ensure the security and success of their operations.
Average cost: $34 per month
Our rating: 8/10
Pros
- Convenient online quote and policy purchase process
- Potential for discounts up to 5% when bundling multiple Hiscox products
- Professional liability coverage extends to work performed globally
- 14-day money-back refund policy
Cons
- No coverage offered in Alaska
