Top 5 Fishing Hunting Lodge, RV Park and Resort Insurance Providers
Valuable assets like fishing hunting lodges, RV Parks and resorts need a specialized insurance policy. These Top 5 insurance providers will show you different insurance policies that are suitable for your business at a competitive price.
Top 5 Fishing Hunting Lodge, RV Park and Resort Insurance Providers:
1.
Westland Insurance
With a national presence of over 190 locations and nearly 2,200 employees, we’re proud to continue expanding from coast to coast. Westland’s brokers provide expert advice for home, business, farm and auto insurance.
2.
Aligned Insurance
100% Canadian and fiercely independent, ALIGNED is a premier business insurance brokerage that serves thousands of clients across the country.
3.
Venture Insurance Programs
Since 1994, Venture Insurance Programs has been a leader in the design, administration and marketing of quality insurance programs to select niche industries.
4.
Philadelphia Insurance Companies
Philadelphia Insurance Companies (PHLY) is a premier national Property/Casualty and Professional Liability insurance carrier that designs, markets and underwrites commercial products and services.
5.
The Standard
The Standard Insurance’s roots run deep in the tourism and hospitality sector, with our original three offices situated in the heart of Northwestern Ontario. This has allowed us to gain a greater understanding of what it means to run a tourism business in more remote locations.
What Insurance Do Lodges, RV Parks and Resorts Need?
Each lodge, RV park or resort has different activities that make its insurance requirements unique. Some have restaurants, and some don’t. Some are large with luxury amenities, and some are smaller with only the essentials. All of these factors play into the insurance coverage each property needs.
While there is no generic guideline on exactly what you need, here are the most commonly included coverages in fishing hunting lodge, RV park and resort insurance policies:
Liability
Insurance to protect you against liability is a basic need for every business, but for fishing hunting lodge, rv parks and resorts where guests are sleeping, eating, and essentially living on your property, it is essential. Liability Insurance protects you financially should a guest or any other visitor be injured, fall ill, or die on your property.
Property and Structure
This coverage insures the business for physical losses sustained to the structures or the contents within such as supplies, furniture or even the personal property of others.
Auto & Marine
If your lodge, rv park or resort owns any vehicles, you need a commercial auto insurance policy to cover the liability arising out of the vehicle’s use and damage that occurs to the vehicle.
Like Auto Insurance, Marine Insurance is there to cover watercrafts used on your property. Marine Insurance covers a variety of watercraft, including: Kayaks, Boats, Canoes, Jet skis and Sailboats.
It may also cover docks, boat houses, and other storage structures used to house watercraft and marine equipment.
Business Interruption and Wage Loss
Protects against income loss as a direct result of loss, damage, or destruction to insured property. Most insurance providers offer a form of business interruption insurance that covers your revenue until your business returns to normal levels—matching revenue levels before whatever unforeseen event caused the sudden loss in the first place.
Natural Disaster
Natural disasters are often not covered under general fishing hunting lodge, rv park and resort insurance policies; however, you can get extended coverage if you are based in an area which experiences:
- Flooding
- Forest fires
- Earthquakes
- Tornadoes
- Hurricanes
Insurance Challenges For Lodge, RV Park & Resort Owners
Fishing Hunting Lodges, RV Parks and Resorts are some of the most challenging properties to insure right now. The impacts of COVID-19, labor shortages affecting employee and guest safety, remote locations, and increasing weather severity have propelled insurance companies to increase rates, implement stricter underwriting guidelines, and increase deductibles.
There are a lot of different risk factors that impact the cost of lodge, rv park and resort insurance, and some of these vary by region and/or insurance company. Here are some things an insurer may assess:
- Access to services such as fire halls, fire hydrants, hospitals and emergency medical services
- Specific features such as hot tubs and pools, fireplaces, wood stoves and firepits
- The type of access the property has (summer only, year-round, drive-in, boat-in, fly-in)
- How often the property is unoccupied
- What is the claims history of the property?
- What specific recreational activities and programs are offered to guests?
