Zipline Insurance Coverage for Zipline Business Owners
Zip line tours is an extreme adventure sport that involves the use of a harness attached to an inclined line or rope through which a person slides down. The riders navigate through lines of varying heights with varying speeds depending upon the extremity level. Zip line tours have become extremely popular over the last few years and such tours have sprung up in various places of the country. Ever since the sharp rise in the popularity of zip lining adventures we have also seen a sudden increase in the number of accidents related to zip lining tours. A few years ago, a harness malfunctioned which resulted in the man on the zip line falling on the ground below. The zip line was not too high but the patron still suffered from considerable injuries and ended up suing the zip line company. In a another instance, a woman hit a tree while on the zip line and ended up suing the zip line business for thousands of dollars.
No matter how careful zipline business owners are and how many precautions they take, small mishaps are bound to happen and it is crucial to have insurance protection to fall back on in case the worst happens. In such scenarios what zip line business owners need is a solid insurance policy.
There are different kinds of insurance that cover this kind of amusement sports that can be well suited to you. The two main kinds of insurances are called general liability insurance and umbrella coverage.
General Liability Coverage:
General liability coverage is a basic insurance policy that will protect your business against damage claims, bodily injury claims, and/or personal and advertising injury claims which could prove to be disastrous for your business in the absence of an intact and thorough insurance policy.
Bodily injury and damage claims include any harm incurred upon third party or any damage to property, for e-g: the property you rent for your business. The coverage also includes medical expenses that the business may be legally responsible for. Defense costs are also a part of general liability insurance which means that any attorney representation you require will be covered. The minimum limits recommended for a basic policy are $ 1,000,000 to $ 2,000,000. This amount will be able to cover all of the above expenses.
Umbrella coverage offers a much more comprehensive insurance policy which covers extended damages which may not be part of general basic liability policies. The umbrella policy even looks out for extreme conditions and steps in for the business owners during such an unfortunate scenario. This type of insurance will provide the zip line business owners an extra layer of added coverage to protect them against potentially disastrous damage claims. Sometimes the cost of the claim may increase the business’s basic policy limit. In such a case, the umbrella coverage will offer added liability coverage in order to protect the business’s assets.
Without the umbrella coverage, business owners may be obligated to pay out of their pocket for defense fees, medical costs and damage claims which can even lead to bankruptcy if the claim happens to be huge. The recommended limit for an umbrella coverage is $ 5,000,000.
Both general liability coverage and the umbrella coverage will protect the business against huge financial losses in case the business is sued or held legally responsible for a mishap. With the right policy, your business will be safe from such unforeseen circumstances and be well worth it.
Contact Mountain Insurance-Montrose to obtain the best possible insurance coverage for your Zipline tour business today (970) 901-0062.