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Company insurance is intended to safeguard the financial assets of a business owner and is a vital investment for a canoe rental business.

Company insurance is intended to safeguard the financial assets of a business owner and is a vital investment for a canoe rental business.

This article will discuss the primary insurance coverage for canoe rental enterprises, general liability insurance, as well as additional policies that are appropriate for this industry.

Canoe Rental Companies Need General Liability Insurance

Every firm, regardless of sector, has risks that should be insured. General liability insurance is the most frequent and comprehensive form of coverage that company owners purchase.

General liability insurance covers the following risks:

Physical harm

Damage to property

Medical expenses

Legal defence and decision

Personal and commercial harm

While general liability insurance is not legally needed for companies, operating without it is exceedingly dangerous. If your company is sued, you might face costs in the hundreds of thousands of dollars (or more). The only way to avoid this sort of catastrophe from destroying your organisation is to have an adequate general liability insurance coverage in place to assist pay for these losses.


Example 1: An employee loses their hold while unloading a canoe and dumps it on a customer’s automobile. Damage from this sort of event is often covered by general liability insurance.

Example 2: A client cuts their hand badly on a sharp piece of metal protruding from the boat during a typical canoe excursion. Your general liability insurance coverage should cover both medical expenditures and possible consumer refunds.

Example 3: Your workers prepared a poster design, however they were unaware that a design feature they employed was protected by copyright rules. In the case of a lawsuit, a general liability coverage would cover legal costs and payout expenditures.

Of course, this is not an entire list of risks covered by a general liability insurance policy, and certain situations may result in a specific peril not being covered. To minimise coverage gaps, it’s always better to speak with your agent about the terms of your policy.

General Liability Insurance Cost

Canoe rental companies in America pay an average of $400 to $1,100 per year for $1 million in general liability insurance.

The cost of your coverage will be determined by a number of variables. Among them are your:



Employees’ number

Per-occurrence restriction

The overall aggregate limit

You may be able to get general liability insurance at a lower cost if you buy it as part of a business owner’s policy (BOP) rather than as a separate policy. A business interruption policy (BOP) is a more complete option that covers numerous types of coverage, such as business interruption and property insurance.

Canoe Rental Companies Require Additional Coverage

While general liability insurance is the most crucial, there are various different types of coverage to be aware of. Other forms of insurance that all canoe rental firms should have include:

Insurance for Commercial Vehicles

If your company employs autos to carry equipment and/or clients, you must acquire a commercial auto coverage. This coverage covers both your car and any other vehicles involved in an accident, as well as any medical bills incurred by wounded persons.

Types of Insurance That Some Canoe Rental Companies May Require

In addition to the insurance listed above, your canoe rental company may need other forms of coverage based on particular features of your activities. Some of them may not apply to you, so be sure to ask your agent whether policies are appropriate for your company.

Insurance for Workers’ Compensation

Workers’ compensation insurance is normally needed by state law for businesses that recruit part-time or full-time employees. It pays the employee’s medical expenditures in the case of an on-the-job accident or sickness. If they are unable to work for a lengthy period of time or decide to sue the company for more compensation, the insurance will cover these additional expenditures.

Insurance for Professional Liability

Canoe rental companies often provide trip suggestions to visitors travelling from out of town in order to best serve their clientele. Professional liability insurance, often known as errors and omissions insurance (E&O), protects your company in the event that an advice results in a lawsuit.

Additional Security Measures for Your Company

Although investing in company insurance is simple (and necessary), it should not be your first line of defence. Yes, insurance will reimburse your company for cash losses incurred as a result of an occurrence, but it is much preferable to avoid losses altogether.

With this in mind, here are a few steps you can take to better secure your company:

Make use of legally binding contracts and other business agreements. (We provide free templates for several of the most often used legal forms.)

To safeguard your personal assets, form a limited liability company (LLC) or a corporation. (To discover how to incorporate an LLC or company in your state, see our step-by-step tutorials.)

Keep your company licences up to date.

Streamline the internal procedures of your company. This will eliminate unneeded variables from routine activities and establish a secure, consistent environment in which to do business.

If your company is an LLC, you should check into LLC insurance.