Insurance for Kelowna Tourism Businesses
Business owners and operators in Kelowna’s tourism sector can face accidents, mishaps, and damages involving customers or severe weather. Are you sure that you have enough liability insurance to protect your Kelowna tourism business from lawsuits and legal claims?
Did you know? Liability insurance can be customized to meet the needs of your Kelowna tourism business.
A Western Financial Group business insurance broker will get you commercial coverage that uniquely protects what you do.
Western is a trusted, national insurance brokerage that has partnered with Canada’s top insurance companies to provide commercial insurance. We work with our insurance partners to find the best business coverage for your needs.
We make the process easy by getting insurance quotes for you and giving you policy coverage options that you can choose for your Kelowna tourism business’s specific needs.
What is tourism insurance?
Tourism insurance is a customized policy consisting of various coverages to protect your business from financial losses and damages.
Kelowna’s tourism sector
Kelowna is British Columbia’s largest community with a metropolitan area population of over 220,000. It is well known for its wines with more than 40 wineries. Beaches and parks dot Kelowna's shoreline along Okanagan Lake. The city also has local craft breweries, cideries, and distilleries. Kelowna has a fruit growing industry offering tours, fruit stands, and farmers' markets. If you like golf, it has 19 courses for all skill levels.
Examples of businesses that need tourism insurance
- Guided tours
- Bed and breakfasts
- Ziplines businesses
- Kayaking/paddle boat/canoeing businesses
- Bicycle rentals
- Campgrounds
- Golf courses
- Ski resorts
- Spas
- Dinner theatres
- Outdoor guides
- Adventure tourism
- Cabins/cottages
- Museums
- Gift shops
- Food stands
Liability insurance is an essential part of your tourism business’s insurance package. Here are the liability coverages that you need to help financially protect your Kelowna tourism business from lawsuits.
Commercial general liability (CGL) insurance
This is necessary liability insurance for tourism businesses. What happens if someone gets injured or their property is damaged at your premises or while out on a tour? Without commercial general liability insurance, you will pay costs related to third-party (customer/supplier/member of the public) injuries or damage to their property out of your own pocket.
If you were sued, commercial general liability insurance would cover the legal costs to defend the claim against your Kelowna tourism business in court, as well as costs to cover damages to compensate third parties whether you win or lose your case.
What kind of risks does commercial general liability insurance cover?
- Injury to a third party who is not your employee
- Damage to someone’s property
- Damage to rented property
- Medical bills if someone is injured
- Legal costs and settlement costs of liability lawsuits filed against you
- Liability lawsuits related to slander and libel
Here’s how CGL insurance can help your Kelowna tourism business: A customer is severely injured after the zipline they were using broke. The customer decides to sue you. Commercial general liability insurance can help pay for your legal fees, court-ordered settlement, and medical bills.
Cyber liability insurance
You keep sensitive financial information and data belonging to your clients. Your tourism/hospitality business could be hacked by cyberthieves. Cyber liability insurance will help financially protect your Kelowna tourism business should there be a cyber-attack and will help cover the cost of restoring your computer system.
Depending on the size of the data breach and the information that was taken, the customers who are affected can hold you liable and sue you for damages.
Event liability insurance
Consider event liability insurance for your Kelowna tourism business. It helps pay for third-party bodily injury and third-party property damage claims that arise during the special event on your property or at a venue you rent. It can also include host liquor liability coverage if alcohol is served and business tenant’s liability insurance to cover damages to the venue.
Professional liability insurance
Professional liability insurance helps protect Kelowna tourism businesses against claims of negligence or failure to deliver services as promised. It’s also called errors and omissions (E&O) insurance.
Do you have enough professional liability coverage to ensure adequate protection as a Kelowna tourism business?
What other business insurance coverages do Kelowna tourism businesses need?
Commercial property insurance
Commercial property insurance provides financial support to replace or cover repairs to your Kelowna tourism business and its equipment if it is damaged by a flood, fire, or severe weather. It also covers vandalism and theft.
Did you know? Commercial property insurance protects contents such as computers, furniture, tools, equipment, and inventory. Commercial property coverage also extends to protect others’ property that is under your care.
Business interruption insurance
Business interruption insurance supports your Kelowna tourism business when it can’t operate due to a covered loss, such as a fire.
There are a number of losses that can force your company to shut down. Some examples are:
- Damage to your equipment from fire or vandalism
- A major reduction in revenue due to a client/supplier facing losses of their own
- A disruption in your supply chain
Business interruption insurance can help with these expenses:
- Payroll
- Rent
- Utilities
- Property taxes
- Alarm monitoring
- Relocation of your business
Commercial auto insurance
If you are using your car for your job in Kelowna’s tourism sector, it won’t be covered by your personal car insurance policy. You will need commercial auto coverage as part of your insurance package.
What do I do if I have a claim against my Kelowna tourism business?
- Contact your broker immediately after any business-related mishap. Waiting to file a claim can confuse insurers about the severity of the damages to your business.
- Know your policy so that when you contact your broker you are familiar with what will be covered or not.
- Document the damage. Take photos right away and write down what happened.
- Do not throw away damaged goods after taking photos. Keep the physical evidence so that your adjustor can see it.
- Do not invite lawsuits. Don’t say anything that could be used against you, especially if you aren’t sure what happened.
- Be honest about what your damaged property is worth. Damaged commercial property is generally valued according to its actual cash value or replacement value.
Here’s an insurance checklist:
- Do you have the best business insurance for your tourism business?
- Do you have the right amount for your deductible and regularly review it to make sure it’s the right amount for you?
- Are you or your employees using personal vehicles for work?
Western Financial Group has licensed BUSINESS INSURANCE EXPERTS to get you the right commercial insurance coverage for your Kelowna tourism business. Our experts are available now to help you navigate the business insurance journey to protect your Kelowna business.
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