Pay Attention To New Trends Like Peer-To-Peer Boat Rentals
In the world of boat rentals, many rules and regulations surrounding the business side of things have been consistent for decades. However, recent years have seen a number of new services appear that are unlike any offered in the industry before. The rise in popularity of services like Airbnb has led many in the rental world to begin exploring the idea of peer-to-peer rental services. While an advantageous option, P2P services also come with risks. If you’re not taking these into consideration with your insurance, you could be leaving yourself open to a number of risks.
Understanding P2P Boat Rentals
To get a better idea of how to go about taking out proper peer to peer boat rental coverage, you need to know what the service actually entails. Essentially a business in this fashion will act much like a rideshare service, only it deals with boats. Boat owners and interested parties are connected via this service and, for a fee, the two groups are connected and a rental can occur. This can be a great way to take on some extra cash from your boat investment, but there are risks. Avoid disaster with a plan that includes:
- General liability
- Watercraft coverage
- Hull coverage
Consider the Advantages
By having a firm understanding of how P2P practices work, you can see if the service is a good fit for your business. Review your options and see how you can get started with this service right away.