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Tourism Insurance – How to Protect Business

If you’re in the travel and tourism industry, the highly publicized and anticipated Shark Week could come with an increase in excursion sales for adrenaline junkies hot off their couches. While the uptick in business is great,  tourism insurance for excursions is necessary.

 

Water Sports

Water sports and activities are popular, but they’re also potentially dangerous.  More than 3,500 fatal drownings are reported in the United States annually. 50 percent of drownings victims treated in emergency departments required additional hospitalization and care.

Your insurance agent can help answer the following:

  • How insurance for water activities can protect your business against extreme and everyday water accidents.
  • The purpose and amount of commercial general liability coverage needed to protect your operation.
  • What watercraft/watersport liability you should carry.

 

Wildlife Encounters

Petting zoos, safaris and other wildlife attractions can pose a threat to patrons. Even well-trained animals can be unpredictable. Protect your business by making sure your employees and third parties are covered. Tourism Insurance

Animals are an expensive investment and asset to your business, so look into insuring some of the valuable species you house. One petting zoo in Moscow is suing an ad company claiming the company traumatized the raccoon they rented from the zoo.

Consider the following questions:

 Should I consider full mortality or theft insurance for my animals?

  • What is the best public liability insurance and employers insurance for my business?

 

Outdoor Adventures

Deaths among hikers are at a five-year high. Hiking and other outdoor adventures, such as biking or rock climbing, pose real risks.

If you own or operate an outdoor adventure / excursion business, talk to your insurance provider about the following:

  • The ways insurance can protect from everyday mishaps and big slips.
  • How an insurance plan can be customized to fit the specific size and services of your business.
  • When event weather insurance is a good fit.

 

Airborne Excursions

The United States Parachute Association (USPA) reports that you are more likely to die being struck by lightning or stung by a bee than you are sky diving — but bee sting deaths don’t make the news or damage a business beyond repair.

If you own an airborne excursion business, make sure to discuss the following with your insurance agent:

  • Specialty liability insurance for your specific activity.
  • How to protect your employees that partake in the dangerous jumps every day.
  • What kind of coverage your equipment needs (word on the street is aircrafts are expensive).

 

National Monuments

Historical landmarks are priceless, but they are not invincible. A fresco painting restoration from a Spanish town went viral after an elderly woman botched a restoration attempt on the 19th century depiction of Jesus painted by Elias Garcia Martinez.

Insurance is a must to avoid losing an irreplaceable piece of history. Protect historic artifacts, buildings and places by insuring them against damage, and connect with your insurance agent about the following:

  • How can I protect against everyday wear and tear? Or extreme damage caused by a specific incident?
  • If it is time to touch up a historic artifact to better preserve its integrity, how much renovation or restoration insurance do I need?
  • Is theft insurance necessary for my attraction?

With both people and property to protect, you can benefit from investing in insurance for your tourism operation.

How do you protect your tourist attraction? Please feel free to share in the comments section. 

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