Coverage amounts for your Public Liability Insurance in Singapore will depend on a few key factors:
- Projected size of your business - how many tourists do you plan to serve in a year? What amount of annual revenue do you anticipate to earn? Larger businesses will require higher coverage.
- What areas will you kayak through? Rivers? Open seas? Will you kayak near dams, which have a history of causing drowning incidents? Certain types of areas which are more prone to causing injury will require higher coverage.
- What safety precautions have you planned? If you can’t show evidence of proper safety procedure plans, your premiums will be higher, and some insurers may not even offer you coverage in the first place.
Let’s look at an example of a small tourism kayak business, located in Singapore.
- Projected size of business: 3,000 customers/year, generating $1 million/year in revenue
- Country: Singapore
- Areas to conduct cycling tours: Rivers only, no kayaking near dams.
- Safety precautions: All riders must wear helmets and flotation devics at all times through the tour.
A business with the above description might consider having at least $2-$3 million in Public Liability Insurance & above. Coverage amounts will need to be reviewed every year as the business grows, and also if there are any large insurance claims filed.
Coverage amounts for your Public Liability Insurance in Singapore will depend on a few key factors:
Let’s look at an example of a small tourism kayak business, located in Singapore.
A business with the above description might consider having at least $2-$3 million in Public Liability Insurance & above. Coverage amounts will need to be reviewed every year as the business grows, and also if there are any large insurance claims filed.