Ski Resort Insurance Policy Information
Ski Resort Insurance. Eager winter-sport enthusiasts flock to ski resorts in large numbers every year. These self-contained facilities meet all their guests needs during their stay.
Ski operations are designed to provide recreational downhill or cross-country skiing experiences to their patrons. Lessons may be offered to beginners. The facility may serve concessions or provide locker rooms for members or guests.
Sporting goods may be sold on premises, or repair services offered. The resort may offer lodging as well.
The financial condition of the operation should be considered because of the potential for high swings in profitability due to weather conditions.
Visitors can enjoy skiing, snowboarding, and other winter sports while staying at a cozy lodge, of course, but also often cinemas, theaters, swimming, and hot tubs. In addition, ski resorts rely on valuable equipment such as ski lifts, and will have top-notch first aid facilities.
While there is no question that owning and managing a ski resort can be a profitable and exciting endeavor, it is equally clear that the unpredictable mountainous terrain and inexperience of many guests poses some unique hazards, as well.
This is why it is essential for ski resorts to protect themselves from a multitude of unforeseen circumstances, by arming themselves with top-quality insurance. What types of ski resort insurance policies might be needed? Find out more here.
Ski resort insurance protects recreational downhill or cross-country skiing operations from lawsuits with rates as low as $87/mo. Get a fast quote and your certificate of insurance now.
Below are some answers to commonly asked ski resort insurance questions:
- How Much Does Ski Resort Insurance Cost?
- Why Do Ski Resorts Need Insurance?
- What Type Of Insurance Do Ski Resorts Need?
How Much Does Ski Resort Insurance Cost?
The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small ski resorts ranges from $87 to $129 per month based on location, number of slopes, revenue, claims history and more.
Why Do Ski Resorts Need Insurance?
Like any other commercial venture, ski resorts are vulnerable to a variety of risks. Some of the perils a ski resort may be confronted with are of such a universal nature that they could strike any business, regardless of their branch of commerce. Others are more industry-specific.
Nothing can prevent an act of nature, such as an earthquake or severe ice storm, for example - and such events could cause disastrous property damage that results in ever-increasing costs as it simultaneously disrupts your business.
Theft, including of digital assets such as customers' credit card data, and vandalism are two further examples of serious perils that could impact a ski resort.
A guest could file a lawsuit after they are injured within the resort as well, alleging that something a ski resort did, or failed to do, was responsible. Employees, too, may sustain work-related injuries.
These and other perils easily result in costs of such a magnitude that they threaten the future of a ski resort.
Thankfully, a whole industry exists to help businesses recover from severe setbacks that they could not manage on their own - by investing in solid ski resort insurance coverage, a skiing operation can focus on providing their guests with an amazing experience, knowing that their insurance has their back if the worst were to happen.
What Type Of Insurance Do Ski Resorts Need?
Every ski resort is different. The location, the characteristics of the surrounding terrain, their amenities, and their capacity are just some examples of factors that make a ski resort unique, and these same variables also influence the precise types of coverage a ski resort will need.
That is why it is so important to consult a seasoned commercial insurance broker who is deeply familiar with your field as well as your individual business. Some key examples of the kinds of ski resort insurance that should be considered, meanwhile, are:
- Commercial Property: If an event beyond your control, such as an act of nature, vandalism, or theft, causes property damage or loss, this type of insurance helps cover the resulting costs. Keep in mind that these policies do not only insure your physical buildings, but also outdoor assets and smaller physical assets such as furniture and computers.
- General Liability: This kind of insurance provides coverage in case of third party bodily injury and property damage claims. It covers attorney fees as well as settlement costs and other legal expenses.
- Environmental Liability: Also known as pollution insurance, this type of ski resort insurance coverage protects you in the event of allegations that your ski resort caused harm to the environment. Such claims easily become drawn-out and costly, and given the increased use of snow cannons by ski resorts, is especially important for this branch of commerce.
- Equipment Breakdown: Should a crucial and costly piece of equipment break down and require repair or replacement, this type of insurance will help you cover the costs.
- Workers Compensation: This form of coverage protects both employees and employers. If an employee is injured at work, their medical bills and any lost income are reimbursed. In the process, the employer is protected from related litigation.
While these forms of insurance will go a long way toward protecting your business, keep in mind that other kinds of ski resort insurance coverage may be needed as well. To find out more, talk to a commercial insurance agent.
Ski Resort's Risks & Exposures
Premises liability exposure is high due to the number of guests on premises and the type of operation. The operation should meet all life safety codes to assure guest safety. To prevent trips, slips, and falls, the lodge must be well maintained with floor covering in good condition. The number of exits must be sufficient and well marked, with backup lighting in case of power failure.
Stairways, elevators, railings, and floor coverings should be in good condition. Exits should be clearly marked and free of obstacles. Adequate lighting should be available in the event of a power outage. Parking lots and sidewalks need to be in good repair with snow and ice removed promptly.
The maintenance and operation of the ski slopes and ski facilities present tremendous liability hazards. Lifts, tows, and other equipment require regular maintenance and inspection.
Ski instructors should be properly educated and trained to facilitate training of children as well as adults. The ski rental operation is a major concern as guests may be injured should the equipment fail. The ski slope operation needs careful review as guests may fall, slide off into crevasses, run into trees or other obstacles on the slopes, or be injured or killed in the event of an avalanche.
Transportation to medical clinics or hospitals may be difficult, particularly when there is severe inclement weather preventing access to roads. The facility should have EMTs or other emergency personnel on premises to address injuries, and a disaster plan in place for search and rescue missions.
Personal injury losses may occur due to alleged wrongful eviction, invasion of privacy, or discrimination.
Products liability exposures can be high if the skiing operation has a restaurant or lounge or sells new or refurbished ski equipment. Employees should be trained in the proper handling of consumables to prevent foreign objects in food, food poisoning, or the spread of other transmissible diseases.
Other product liability exposures can arise from vending machines or gift shops.
Liquor liability exposures can be high if employees are not properly trained to recognize the effects of excessive alcohol consumption. Employees must be trained to verify the age of guests ordering alcoholic beverages and refuse service to underage guests. Inebriated guests should not be permitted to access slopes.
Workers compensation exposure can be high. Cleaning and maintenance operations can result in lung, eye, or skin irritations and reactions. Slips and falls, back injury, hernia, sprains, and strains from lifting or working at awkward positions are common. The parking lot and sidewalk snow removal may be handled by employees or outside contractors.
If employees are responsible, there are potentials for strains and falls. Food preparation operations can result in cuts, scrapes, and burns. Drivers can be injured in over-the-road accidents.
Interaction with guests can be difficult. Employees should be trained in dealing with rowdy guests. Ski operations include snow maintenance crews, ski instructors, and ski patrol for emergencies.
All of these are exposed to adverse weather conditions, avalanches, falls from heights, and hazardous terrain. There should be a formal safety procedure manual, with all rules and regulations stated and enforced.
Property exposures can be high due to the multiple sources of ignition. Electrical wiring, plumbing, and heating systems must be adequate and meet current code. Ski operations are often located in rural areas at a distance from fire departments.
Firefighting activities can be hampered, especially during inclement weather when roads may be impassable. Fire detection and suppression systems should be in place to permit an early response to a fire.
Lodges and restaurants should be sprinklered. All cooking equipment must be properly controlled and maintained. Fire extinguishers should be available throughout the facility and properly tagged. Flammables, such as ski wax, cleaning supplies, and repair operations, should be kept separate and stored appropriately.
Ski operations include stocking, renting, and repairing ski equipment, and using machinery to produce and control snow. All machinery must be inspected and maintained regularly. Business interruption exposure can be substantial due to lack of backup facilities and the seasonality of skiing operations.
Equipment breakdown exposures include breakdown losses to the heating systems, cooking equipment, hot water systems, electrical control panels, snow-producing equipment, and other apparatus. Breakdown and loss of use could result in a significant loss, both direct and under time element, because operations are seasonal.
Crime exposure is from employee dishonesty and money and securities. Background checks should be conducted on all employees. Cashiers' drawers should be kept stripped with regular deposits made throughout the day.
A minimal amount of cash should be kept overnight. Monetary transactions must be monitored and audited on a regular basis to prevent employee theft. All ordering, billing, and reimbursements should be separately monitored functions. Records should be reconciled on a regular basis. All rental equipment must be maintained and must be inventoried frequently.
Inland marine exposure is from accounts receivable if the facility bills for services, computers, contractors' equipment for machinery used to maintain the slopes, and valuable papers and records for contractors', guests' and suppliers' information.
Bailees exposure results from the handling of guests' property, such as those left for service or repair, or property left in locker rooms.
Commercial auto exposure is low if limited to hired non-owned for employees running errands. If the facility offers pickup and delivery of guests, the exposure increases substantially as it includes driving on poorly-maintained roads in inclement weather.
Hands-free two-way communication devices should be used to track vehicle locations. Any driver should have an appropriate driver's license and acceptable MVR. Vehicles must be maintained and records kept in a central location. Valet services present garagekeepers exposures for damages to guests' vehicles.
Commercial Insurance And Business Industry Classification
- SIC CODE: 7999 Amusement And Recreation Services, Not Elsewhere Classified
- NAICS CODE: 713920 Skiing Facilities, 721110 Hotels (except Casino Hotels) and Motels
- Suggested ISO General Liability Code(s): 48252 Ski Lifts, Tows or Runs, 45190 Hotels and Motels - With Pools or Beaches - Less Than Four Stories, 45191 Hotels and Motels - With Pools or Beaches - Four Stories or More, 45192 Hotels and Motels - Without Pools or Beaches - Less Than Four Stories, 45193 Hotels and Motels - Without Pools or Beaches - Four Stories or More
- Suggested Workers Compensation Code(s): 8017 Store - Retail NOC, 9052 Hotel - All Other Employees & Salespersons, Drivers, 9058 Hotel - Restaurant Employees, 9102 Park NOC - All Employees & Drivers, 9180 Club - Shooting & Drivers
Description for 7999: Amusement And Recreation Services, Not Elsewhere Classified
Division I: Services | Major Group 79: Amusement And Recreation Services | Industry Group 799: Miscellaneous Amusement And Recreation
7999 Amusement And Recreation Services, Not Elsewhere Classified: Establishments primarily engaged in the operation of sports, amusement, and recreation services, not elsewhere classified, such as bathing beaches, swimming pools, riding academies and schools, carnival operation, exposition operation, horse shows, picnic grounds operation, rental of rowboats and canoes, and shooting galleries. Establishments primarily engaged in showing or handling animals at shows or exhibitions are classified in Agricultural Services, Industry Group 075.
- Aerial tramways, amusement or scenic
- Amusement concessions
- Amusement rides
- Animal shows in circuses, fairs, and carnivals
- Archery ranges, operation of
- Baseball instruction schools
- Basketball instruction schools
- Bath houses, independently operated
- Bathing beaches, public
- Betting information services
- Billiard parlors
- Bingo parlors
- Boat rental, pleasure
- Boats, party fishing: operation of
- Bookmakers, race
- Bowling instruction
- Bridge club, nonmembership
- Bridge instruction
- Cable lifts, amusement or scenic: operated separately from lodges
- Canoe rental
- Card rooms
- Carnival operation
- Cave operation
- Circus companies
- Concession operators, amusement devices and rides
- Day camps
- Exhibition operation
- Exposition operation
- Fairs, agricultural: operation of
- Fireworks display service
- Fishing piers ant lakes, operation of
- Fortune tellers
- Gambling establishments not primarily operating coin-operated
- Gambling machines, except coin-operated operation of
- Game parlors, except coin-operated
- Games, teaching of
- Gocart raceway operation
- Gocart rentals
- Golf courses, miniature operation of
- Golf driving ranges
- Golf professionals not operating retail stores
- Golf, pitch-n-putt
- Gymnastics instruction
- Handball courts, except membership club
- Horse shows
- Houseboat rentals
- Hunting guides
- Ice skating rink operation
- Judo instruction
- Karate instruction
- Lifeguard service
- Lotteries, operation of
- Lottery club and ticket sales to individuals
- Moped rental
- Motorcycle rental
- Natural wonders, tourist attraction: commercial
- Observation tower operation
- Off-track betting
- Pack trains for amusement
- Parachute training for pleasure
- Picnic grounds operation
- Ping pong parlors
- Pool parlors
- Racquetball courts, except membership clubs
- Rental of beach chairs and accessories
- Rental of bicycles
- Rental of golf carts
- Rental of rowboats and canoes
- Rental of saddle horses
- Riding academies and schools
- Riding stables
- River rafting, operation of
- Rodeo animal rental
- Rodeos, operation of
- Roller skating rink operation
- Scenic railroads for amusement
- Schools and camps, sports instructional
- Scuba and skin diving instruction
- Shooting galleries
- Shooting ranges, operation of
- Skating instruction, ice or roller
- Skeet shooting facilities, except membership clubs
- Ski instruction
- Ski lifts, cable lifts, and ski tows operated separately from lodges
- Ski rental concessions
- Slot-car racetracks
- Sporting goods rental
- Sports instructors, professional: golf, skiing, swimming, etc.
- Sports professionals
- Swimming instruction
- Swimming pools, except membership
- Tennis clubs, nonmembership
- Tennis courts, outdoor and indoor operation of, nonmembership
- Tennis professionals
- Ticket sales offices for sporting events, contract
- Tourist attractions, natural wonder commercial
- Tourist guides
- Trampoline operation
- Trapshooting facilities, except membership club
- Waterslides, operation of
- Wave pools, operation of
- Wax figure exhibitions
- Yoga instruction
Ski Resort Insurance - The Bottom Line
To protect your operations, employees and patrons, having the right ski resort insurance coverage is essential. To learn what options are available to your business, how much coverage you should invest in and the premiums - speak to a reputable commercial insurance broker.
Types Of Small Business Insurance - Requirements & Regulations
Perhaps you have the next great idea for a product or service that you know will appeal to your local area. If you've got a business, you've got risks. Unexpected events and lawsuits can wipe out a business quickly, wasting all the time and money you've invested.
Operating a business is challenging enough without having to worry about suffering a significant financial loss due to unforeseen and unplanned circumstances. Small business insurance can protect your company from some of the more common losses experienced by business owners, such as property damage, business interruption, theft, liability, and employee injury.
Purchasing the appropriate commercial insurance coverage can make the difference between going out of business after a loss or recovering with minimal business interruption and financial impairment to your company's operations.
Insurance is so important to proper business function that both federal governments and state governments require companies to carry certain types. Thus, being properly insured also helps you protect your company by protecting it from government fines and penalties.
Small Business Insurance Information
In the business world, there are many risks faced by company's every day. The best way that business owners can protect themselves from these perils is by carrying the right insurance coverage.
The The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight.
Commercial insurance is particularly important for small business owners, as they stand to lose a lot more. Should a situation arise - a lawsuit, property damage, theft, etc. - small business owners could end up facing serious financial turmoil.
According to the SBA, having the right insurance plan in place can help you avoid major pitfalls. Your business insurance should offer coverage for all of your assets. It should also include liability and casual coverage.
Types Of Small Business Insurance
Choosing the right type of coverage is absolutely vital. You've got plenty of options. Some you'll need. Some you won't. You should know what's available. Once you look over your options you'll need to conduct a thorough risk assessment. As you evaluate each type of insurance, ask yourself:
- What type of business am I running?
- What are common risks associated with this industry?
- Does this type of insurance cover a situation that could feasibly arise during the normal course of doing business?
- Does my state require me to carry this type of insurance?
- Does my lender or do any of my investors require me to carry this type of policy?
A licensed insurance agent or broker in your state can help you determine what kinds of coverages are prudent for your business types. If you find one licensed to sell multiple policies from multiple companies (independent agents) that person can often help you get the best insurance rates, too. Following is some information on some of the most common small business insurance policies:
|Business Insurance Policy Type||What Is Covered?|
|General Liability Insurance||What is covered under commercial general liability insurance? It steps in to pay claims when you lose a lawsuit with an injured customer, employee, or vendor. The injury could be physical, or it could be a financial loss based on advertising practices.|
|Workers Compensation Insurance||What is covered under workers compensation insurance? This type of insurance protects a business and its owner(s) from claims by employees who suffer a work-related injury, illness or disease. Workers comp typically provides the injured employee with benefits to cover medical expenses, a portion of his/her lost wages, rehabilitation costs if applicable, and permanent partial or permanent total disability.|
|Product Liability Insurance||What is covered under product liability insurance? I pays an injured party's settlement or lawsuit claim arising from a defective product. These are usually caused by design defects, manufacturing defects, or a failure to provide adequate warning or instructions as to how to safely use the product.|
|Commercial Property Insurance||What is covered under business property insurance? General liability policies don't cover damages to your business property. That's what commercial property insurance is for. It protects all of the physical parts of your business: your building, your inventory, and your equipment, giving you the funds you need to replace them in the event of a disaster. If you work from home, you might consider a Home Based Business Insurance policy instead.|
|Business Owners Policy (BOP)||What is covered under a business owners policy (BOP)? This is a policy designed for small, low-risk businesses. It simplifies the basic insurance purchase process by combining general liability policies with business income and commercial property insurance.|
|Commercial Auto Insurance||What is covered under business auto insurance? This type of insurance covers automobiles being used for business purposes. This could include a fleet of business-only vehicles or a single company car. In some cases it might cover your car or your employee's car while they're being used for business. These policies have much higher limits, ensuring you can cover your costs if one of these vehicles gets into an accident.|
|Commercial Umbrella Policies||What is covered under commercial umbrella insurance? This type of policy is a sort of "gap" insurance. It covers your liability in the event that a court verdict or settlement exceeds your general liability policy limits.|
|Liquor Liability Insurance||What is covered under liquor liability insurance? It covers bodily injury or property damage caused by an intoxicated person who was served liquor by the policy holder.|
|Professional Liability (Errors & Omissions)||What is covered under professional liability insurance? This type of business insurance is also known as malpractice oe E&O. It covers the damages that can arise from major mistakes, especially in high-stakes professions where mistakes can be devastating.|
|Surety Bond||What is covered under surety bonds? Bonding is a contract where one party, the SURETY (who assures the obligee that the principal can perform the task), guarantees the performance of certain obligations of a second party, the PRINCIPAL (the contractor or business who will perform the contractual obligation), to a third party, the OBLIGEE (the project owner who is the recipient of an obligation).|
Who Needs General Liability Insurance? - Virtually every business. A single lawsuit or settlement could bankrupt your business five times over. You might also need this policy to win business. Many companies and government agencies won't do business with your company until you can produce proof that you've obtained one of these policies.
Business Insurance Required by Law
If you have any employees most states will require you to carry worker's compensation and unemployment insurance. Some states require you to insure yourself even if you are the only employee working in the business.
Your insurance agent can help you check applicable state laws so you can bring your business into compliance.
Other Types Of Small Business Insurance
There are dozens of other, more specialized forms of small business insurance capable of covering specific problems and risks. These forms of insurance include:
- Business Interruption Insurance
- Commercial Flood Insurance
- Contractor's Insurance
- Cyber Liability
- Data Breach
- Directors and Officers
- Employment Practices Liability
- Environmental or Pollution Liability
- Management Liability
- Sexual Misconduct Liability
Whether you need any or all of these policies will depend on the results of your risk assessment. For example, you probably don't need an environmental or pollution policy if you're running an IT company out of a leased office, but you would need data breach and cyber liability policies to fully protect your business.
Also learn about small business insurance requirements for general liability, business property, commercial auto & workers compensation including small business commercial insurance costs. Call us (855) 767-7828.
Additional Resources For Arts & Recreation Insurance
Read up on small business arts and recreation commercial insurance.
- Amusement Parks
- Archery Ranges
- Athletic Fields
- Billiard And Pool Halls
- Bowling Alleys
- Cave Tours
- Dance Studio
- Disc Jockey DJ
- Drive-In Theaters
- Entertainers And Performers
- Event Planning
- Fairs And Fairgrounds
- Film Production
- Fine Art
- Guides & Outfitters
- Handball & Racquetball Courts
- Horse & Dog Racetracks
- Indoor Sports Complexes
- Interior Decorator
- Interior Design
- Motorsports Racetracks
- Photo Booth
- Recording Studio
- Recreation Centers
- Riding Stables
- Roller Sakting Rinks
- Shooting Ranges
- Skeet & Trap Shooting Ranges
- Ski Resorts
- Talent Agency
- Tennis Centers
- Video Arcades
- Wedding And Special Event
Commercial insurance policies for arts, entertainment and recreation are specialized policies that protect against the unique risks that arts and recreation businesses face.
Performing artists and companies, entertainers including musical groups, theatre groups, comedians and more, writers, performers, photographers, videographers, DJ's and so many other types.
Professional liability coverage (errors and omissions) is needed in these cases to protect their financial interests due to mistakes, errors or omissions by these professionals in doing their jobs. Fr example - a bride and groom did not like the way their wedding photos turned out.
Or a wedding planner might plan a lavish wedding, but the bride's parents who are paying for it did not like the way it went. There is a lot of gray areas with arts, and you need to be protected if your clients don't agree with you that your work was what the agreed to.
If your business is involved with children, you need to review your coverages very carefully so certain important protections are not excluded. Abuse and molestation insurance might be needed to fully protect yourself in this instance.
Minimum recommended small business insurance coverage: Business Income with Extra Expense, Employee Dishonesty, Money and Securities, Accounts Receivable, Commercial Articles Floater, Computers, Valuable Papers and Records, General Liability, Employee Benefits Liability, Umbrella Liability, Hired and Non-owned Auto Liability & Workers Compensation.
Other commercial insurance policies to consider: Building, Bailees Customers Floater, Money and Securities, Cyber Liability, Employment-related Practices Liability, Business Auto Liability and Physical Damage and Stop Gap Liability.