Snow business is good business. According to Snowsports Industries America (SIA), more than $4.6 billion in snow sports products was purchased last year. And $2.5 billion of those sales of equipment, outerwear, apparel and accessories went to snow sports specialty stores.
Ask anyone who owns a ski shop, however, and they’ll tell you: running a ski or snowboard shop takes a lot more than just a love for fresh powder and an enthusiasm for snow sports. It takes courage to succeed in the outdoor industry, which has more than its fair share of risks.
Luckily, shop owners have a specialized insurance solution that helps them meet these unique risks head-on. It’s kind of like dropping in on a steep back run and knowing you’ve got the right equipment to handle the job.
Six Amazing Benefits of Ski Shop Insurance
If you’ve been relying on some standard business insurance policies to protect your ski shop, you may want to consider trading it in for some better “equipment.” Here’s why.
#1: Coverage Designed with Your Shop In Mind
Ski shop insurance isn’t just a blanket business policy. It’s been custom designed to meet the needs of shop owners who specialize in the outdoor sports industry. It’s a comprehensive Business Package Policy that’s been tailored for your products, services, inventory, and employees.
#2: Liability Coverage for Rentals, Repairs, Lessons and Tours
When you rent or service equipment, your liability risks increase. If a customer gets injured while using your shop-owned skis, or your service department makes a mistake during a routine snowboard maintenance, you could be liable for damage or injuries. Ski shop insurance provides specific liability coverage for equipment rentals and repairs.
There’s a lot that could go wrong with a private ski lesson, guided tour, or group snowboard class. Ski shop insurance also provides liability coverage in the event a guided trip, class, or lesson goes awry.
#3: Specialized Attorneys Who’ve Got Your Back
Our ski shop insurance program is backed by industry attorneys who specialize in ski defense cases. These hand-picked members of the ASDA (Association of Ski Defense Attorneys) are retained and ready for defense work, should the need arise. Your defense claim won’t be handled by just any attorney.
#4: Ready-to-use Release Forms
There’s no reason to give yourself a headache trying to come up with a release form that covers your assets when you rent equipment or host special events. Because these sorts of things come with the territory, ski shop insurance comes with a free notebook full of sample release forms that have been created with the help of the top ski defense attorneys in the United States. No hassles, no headaches.
#5: Protection for Your Inventory Off-site and On the Road
With a standard commercial property policy, your inventory is covered… as long as you keep it in your shop. But when you run a ski shop, inventory often goes out and about. That’s why ski shop insurance provides transit coverage for transporting goods, as well as exhibition-floater coverage for off-site sales and demos.
#6: Protection and Response for Cyber Risks
Even though your business is focused on outdoor sports, you can’t afford to neglect cyber risks. Whether it’s customer personal information or credit card information, you have a duty to keep that data safe. And if something does happen, it doesn’t matter if the data was lost due to a distracted employee or a targeted hack. That’s why your ski shop needs cyber liability protection and breach response solutions; because you never know when your data may be at risk.
You’ve built a business around making sure your customers have the right gear, the right apparel, and the right equipment to succeed out in the snow. Protect your business by making sure you have the right insurance in place, too.
Sure, a cookie-cutter commercial insurance policy may work for the bakery next door, or the shoe store around the corner. But when you’ve committed to the outdoor industry, you need something that’s a bit hardier. Ski shop insurance isn’t cookie cutter; it’s custom-tailored for your outdoor industry business and ready to stand up to anything the mountain can throw at you.