Insurance for Short-Term Rental Businesses

The tourism industry is always strong near the coast, because the beach is and has been a draw for American families on vacation practically as long as the concept of vacation has existed. Among the businesses that tend to thrive near lively beaches are short-term equipment rentals that allow visitors to have fun on the water without hauling a ton of gear on a long trip. From kayaks and canoes to motor boats, jet skis, and even more exotic recreational vehicles, there are a lot of choices to allow them to get the most out of the location they’ve chosen to visit. Providing that access comes with risks, though, and that’s why businesses like yours need specialized jet ski rental business risk management insurance policies.

Covering Your Customers and the Public Alike

Risk management insurance for rental companies needs to take into account the possible risks to clients in the event of a mechanical failure or any other accident that could injure them or cause damage to property. That’s not all, though, it also needs to protect members of the public who could be affected by a potential accident. This double-edged risk level is unique because most companies with public liability have that risk due to public use of their facilities or the possibility of accidents involving employees operating equipment. Rental companies have the unique risks present when a third party uses your equipment remotely, and your insurance should reflect that.

Welding Risk Management for Businesses

Welding is the technique of joining pieces of metal together with heat. Because so many pieces of equipment and machinery are made of metal, welders are essential to industries such as construction, manufacturing, oil and gas, shipping, and more. While many companies could not do business without hiring welders, owners and managers must think realistically about the inherent risks of this dangerous profession.

Welding Injuries

Welders certified by the American Welding Society or the American Society of Mechanical Engineers are highly skilled and have received training in safe techniques and the use of appropriate personal protective equipment. Unfortunately, however, serious welding injuries are still common, even among those with years of experience. Potential dangers include the following:

  • Blindness
  • Electric shock
  • Burns
  • Manganese poisoning

Risk Management

Business owners and managers must prioritize injury prevention by providing adequate PPE and maintaining a safe working environment. They also must maintain liability insurance to cover potential injuries. This type of coverage does not just protect the workers but also safeguards businesses from financial loss through subsequent medical bills and legal fees.

You can’t avoid hiring welders, because they likely form an integral part of your team. Purchasing general liability supplemental insurance is one of the best ways to manage the risk that comes with employing them.