Summer is fast approaching meaning more people hitting the lake for fun in the sun. Insurance for a jet ski rental business may help mitigate financial losses, but a good contract can help mitigate risk as well. Include these common clauses in your contracts.
To protect the physical asset, make sure the contract has a clause regarding how the jet ski should be returned. If the customer wrecks the watercraft, there should be provisions outlining what steps the company may take to cover the loss.
As seen on https://www.merrimacins.com/, educating customers on the safety risks they should avoid lowers their risk of problems out on the water. For example, customers should know speed limit rules and right of way expectations. Customers should wear safety equipment and keep an eye on others out on the water.
Most jet ski rental contracts have liability waivers. While these can help lower the risks of leasing out the watercraft, the clauses do not always eliminate the company’s liability. Faulty equipment does not fall under the liability. However, a customer who does not follow the rules waves the company’s liability should an accident occur.
These are a few clauses every rental agreement should have. Cover liabilities with insurance for a jet ski rental business.