Some look for mobility and use paddleboards, which are better than kayaks and canoes.
A paddleboard rental business lets consumers hire paddleboards for an hour or a day. Like any business, paddleboard rental has hazards. A neighboring boat rental company might sue for damages because one of your clients hit a boat while cruising on the beach or lake. Inherent defects in your paddleboard might also result in customer injuries.
Insurance covers property damage, personal harm, legal fees, and other potential responsibilities from accidents or unforeseen events. Paddleboard rental companies can focus on client safety and satisfaction by obtaining insurance for paddle board business. Here’s a guide that discusses the available policies, the cost of premiums, and the best companies.
| 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 |
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.
The coverage limits for general liability insurance typically range from $1 million to $5 million, depending on the needs of the business.
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
General liability insurance can cover medical costs and legal claims if a customer slips, trips, or falls on leased property
General liability insurance may cover business advertising or promotional materials that defame libel or slander
Product liability insurance–This is essential if your paddleboard rental business also sells paddleboards or related products. It protects you from liability claims arising from injuries or property damage caused by defective products you sell
Additional insured coverage–This can extend your general liability insurance coverage to other individuals or entities. By adding them as additional insured parties, you provide them with coverage under your policy
Yes, general liability insurance can cover injuries sustained by paddle board renters. Suppose a customer or third party suffers bodily injury while using your paddle board rental services and files a claim. Your general liability insurance can cover medical expenses and legal fees in that case.
Product liability insurance for paddleboard rentals is a necessity for a paddle board business. It protects against claims from injuries or damages caused by the paddle boards, providing coverage for manufacturing defects, design flaws, and inadequate warnings. With this insurance for paddle board business, the owner can safeguard their operations and assets, ensuring the safety and satisfaction of their customers.
Accidental injuries–Product liability insurance can cover medical bills, legal fees, and potential settlements or judgments if a paddleboard renter is harmed by a flaw
Equipment malfunctions–Product liability insurance can cover the costs of a defective paddleboard that damages or injures a renter
Design defects–If a paddleboard has a design problem that renders it unsafe or prone to accidents, product liability insurance can cover claims for injuries or losses.Failure to warn–Product liability insurance can cover claims if a paddleboard rental company fails to warn customers about paddleboarding risks and they are injured
Negligence–If the paddleboard rental firm or its workers are negligent in maintaining or checking the equipment, product liability insurance may cover injuries or damages
Product liability insurance coverage limits typically range from $1 million to $5 million.
Product recall coverage–This helps mitigate the financial impact of a product recall. It covers expenses related to notifying customers, retrieving and replacing the affected paddleboards, and managing the overall recall process
Rental equipment insurance–This coverage covers rental paddleboards and equipment from theft, loss, or damage while in use by customers, including unintentional damage
Product liability insurance generally covers injuries caused by defects or faults in the paddle boards. However, it may not cover injuries resulting from customer misuse or negligence. Proper instruction and warning labels are essential to mitigate such risks.
Get all the best quotes from leading providers in a click of a button!
| 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 |
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.
Equipment breakdown coverage–This covers repairing or replacing essential equipment used in your paddleboard rental business in the event of mechanical breakdown
Outdoor property coverage–This protects outdoor storage areas or structures from risks such as theft, vandalism, or damage caused by weather events
Yes, commercial property insurance can cover damage to paddle boards caused by extreme weather conditions such as storms or hurricanes. However, reviewing the policy terms and conditions is essential to ensuring that specific weather-related risks are covered.
| 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 |
A business owner's policy (BOP) combines multiple insurance coverages into a single package tailored to the needs of small businesses. 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.
Business interruption insurance–This helps cover lost income and operating expenses if your business is temporarily closed due to a covered event, such as a fire or natural disaster
Cyber liability insurance–This can cover data breach expenses, including notification costs, credit monitoring, and legal fees
A business owner's policy does not typically cover injuries to employees. Instead, workers' compensation insurance is designed to provide coverage for work-related injuries and illnesses. Paddle board rental businesses need workers' compensation insurance to protect employees and the business.
| 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 |
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.
Replacement cost cooverage–This covers paddleboards and equipment at full replacement cost, not just depreciated value. It ensures that the organization can affordably replace damaged or stolen equipment with new, comparable goods
Paddleboard rental tools and equipment insurance coverage limits vary by insurance provider and equipment value. The limit can range from $5000 to $3 million.
Paddleboard rental firms need tools and equipment insurance. It covers liability including theft, damage, and accidents involving hired equipment. Rental firms can:
Safe guard your investment–Paddleboards and accessories are pricey. Insurance protects the firm from financial loss if rented equipment is damaged or destroyed
Maintain business continuity–Equipment loss or theft may force a rental business to stop operations. Tools and equipment insurance with business interruption coverage helps businesses quickly recover and resume operations by covering ongoing expenses and lost income
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 wlimits 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.
Employer's liability insurance–Supplements Workers' Compensation Insurance. It covers legal fees if an injured employee sues the business owner for carelessness or harmful work conditions
Business interruption insurance–If a fire or natural calamity forces the paddleboard rental business to close, this add-on covers lost income and ongoing expenses
Employee protection–Workers compensation insurance aids injured or ill workers. Paddleboard rental workers may fall or strain. Workers compensation supports medical care, rehabilitation, and lost income, ensuring employee health and financial security
Legal compliance–Most states require employers to have workers compensation insurance. Uninsured businesses may be penalized or sued. Workers compensation keeps paddleboard rental firms lawful
Financial protection–Workplace injuries and diseases are expensive. Paddleboard rental companies without workers' compensation insurance may be liable for injured workers' medical bills, rehabilitation, and lost wages. This can bankrupt small enterprises. Workers compensation insurance covers the business's financial obligations
Business reputation and stability–Workers compensation insurance suggests a paddleboard rental firm cares about employee safety and well-being. Protecting employees attracts customers. Workers compensation insurance decreases financial risks from workplace injuries, guaranteeing organizational stability
Excess liability insurance is a coverage that provides additional liability protection beyond the limits of a primary insurance policy for businesses that offer paddleboard rentals. It is designed to protect the rental business from financial loss in case of accidents, injuries, or property damage during the rental period.
A typical excess liability insurance policy for paddleboard rentals might have a coverage limit of $1 million to $5 million.
| 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 |
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. Here’s a table showing the rates of the best companies for a $1 million general liability policy:
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| NEXT | $21 | $252 | Best overall; Fastest general liability insurance for paddleboard rentals |
| The Hartford | $27 | $324 | Industry expertise and specialized coverage |
| CoverWallet | $23 | $276 | Comparing paddleboard rental insurance quotes online |
| Tivly | $29 | $348 | Comparing paddleboard rental insurance quotes over the phone |
| Thimble | $31 | $372 | On-demand coverage and flexible policies |
| Hiscox | $34 | $408 | Customized coverage for unique business needs |
Get all the best quotes from leading providers in a click of a button!
When securing insurance for your paddleboard rental business, choosing a reputable provider with comprehensive coverage options, exceptional customer service, and competitive pricing is crucial.
Here are some top-rated insurance companies specializing in insurance for paddle board businesses. Read some of the reviews below to know their pros, cons, and average rate for a $1 million general liability insurance:
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
Couldn’t find any
NEXT is a reputable insurance provider known for its comprehensive coverage options, making it an excellent choice for businesses. This company’s general liability, commercial property, business owner’s policy, and other coverage options are available online. What makes NEXT good is that you can get a certificate of insurance anytime through its mobile app.
Best for: Best overall; Fastest general liability insurance for paddleboard rentals
Average cost: $21 per month
Our rating: 10/10
CoverWallet offers a free insurance assessment that can help you determine the insurance coverage that best suits your paddle board rental business
You can manage all of your insurance policies in one place, making it 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
CoverWallet allows you to get instant quotes from multiple insurance providers, making it easy to find affordable coverage for your business
As a broker, CoverWallet does not provide insurance directly; you must rely on its partner insurance companies to offer the coverage you need
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.
Best for: Comparing paddleboard rental insurance quotes online
Average cost: $23 per month
Our rating: 10/10
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
Some customers have reported slower claims processing times
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.
Best for: Industry expertise and specialized coverage
Average cost: $27 per month
Our rating: 10/10
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
Relatively new in the insurance market, with fewer customer reviews and testimonials available
Pricing may vary depending on business size, location, and coverage needs.
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. Call now to compare quotes over the phone.
Best for: Comparing paddleboard rental insurance quotes over the phone
Average cost: $29 per month
Our rating: 8/10
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
Coverage availability may vary by location and business type, limiting accessibility for certain industries or regions
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.
Best for: On-demand coverage and flexible policies
Average cost: $31 per month
Our rating: 8/10
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
No coverage offered in Alaska
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.
Best for: Customized coverage for unique business needs
Average cost: $34 per month
Our rating: 8/10
1 / 5
Use anyone except Employers. Period. They are non-transparent and shameful. After I complained long enough to warrant a call from a supervisor, the supervisor called back from a PRIVATE NUMBER (no caller ID), left a message that they are not reversing their decision (without any communication with me), and failed to leave a phone number for me to call back. She was hiding! They also fact find via email and phone calls, which is terrific for speed and communication. However, after setting a precedence of email or phone calls, they send time sensitive information via email, without any heads up... they are hoping you miss it and forfeit via expiration. Evil policies. Go elsewhere.
1 / 5
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
1 / 5
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
5 / 5
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
5 / 5
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
Not all those who wander are lost.
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