CBIZ Sattler Adventure Sports Blog

Insights and tips on how to protect your adventure sports business, giving you and your guests peace of mind.

Hayden Ward
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Business Income Insurance: How it Works for Outfitters & Guides

Adventure Sports Business Income Insurance

The world of outfitters and guides is extremely unique from most businesses. You are always pushing limits and providing your customers with the most fun they have had in ages. Each adventure is full of thrill and excitement. However, unforeseen events can occur and leave you without income or equipment for a period of time.

Business income coverage, also known as business interruption coverage, can cover lost income when you have to close your small business suddenly. This is an additional layer of protection that goes beyond general commercial insurance.

Is Your Outfitters Business Protected from Circumstances Beyond Your Control?

Though you account for things such as equipment wear and tear and inclement weather in your contingency plan, not everything can be so easily accounted. One of the most difficult things about owning a business is what happens when something is out of your control. To better understand business income/interruption coverage, take a look at these scenarios:

  • After you close for the day, someone breaks in and steals equipment that is a necessity for your business. As a result, you have to temporarily shut down while you replace your inventory. Your business income insurance can help cover your lost income during this time.
  • Your fishing tour business is in an attached building complex. A store next to yours catches fire, and it spreads to your business. You have to shut down your operation to repair the damages. Your business income insurance can help cover your lost income during this time of restoration. 

If you have adequate commercial adventure sports insurance and you experience a covered loss under the policy, your income will continue while repairs are being made.

Adventure Sports Insurance Defends You against Equipment-Related Losses, Including Lost Income

Commercial insurance coverage is designed to protect outfitter owners from losses that can arise while out on the field or when the business is closed after hours. Just as with other commercial insurance policies that provide coverage for loss of income when a business is shut down due to a covered peril, adventure sports coverage also includes loss of income coverage.

This means if a covered loss occurs, the insurance company will pay both the cost of repairing your property and the income you’re unable to collect while your property or major piece of equipment is undergoing repairs. It replaces equipment with like kind and quality, but does not cover general wear and tear or maintenance of equipment. Keep in mind that many insurance companies are excluding viruses and communicable diseases from loss of income.

The amounts you receive on your business income coverage are based on your company’s income and expense records. These records should be stored in a locked, safe location. It may be best to even store these off-site or digitally.

Protect Your Businesses with the Right Policy

As a small business owner, one of your goals is to reduce your risk as much as possible. That can be difficult at times for outfitters and guides who are always in the field of action! Unfortunately, owners who don’t purchase commercial coverage could find themselves facing a period of weeks or months without income if accidental damage, a fire, or another covered loss occurs. Our coverages will help and guide you through unforeseen losses. Get the protection you need today and request a free CBIZ Sattler Adventure Sport Insurance quote. Worry less and adventure more!

This blog may contain scenarios that are provided as examples only. In an actual claim situation, coverage is subject to the terms, conditions and exclusions of the policy issued. The information provided is general in nature and may be affected by changes in law or the interpretation of such laws. The reader is advised to contact a professional prior to taking any action based upon this information.

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800.615.8418 | adventuresports@cbiz.com

1504 8th Street | Lewiston, ID 83501  

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CBIZ Sattler Adventure Sports Insurance, a division of CBIZ Insurance Services, Inc., is the largest insurer of adventure sports businesses in the United States. As part of an $850 million New York Stock Exchange traded company (CBZ), we developed a policy coverage to meet the needs for those in the recreation and outfitting industries. Our policy is underwritten by an A.M. Best Rated A++ (Superior) company.

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