The most critical factor in whether your excursion business will sink or swim is your ability to establish, and maintain, relationships with the various Cruise Line Shore Excursion Directors. Having excursion insurance is a non-negotiable part of that equation. But, it can get expensive. There are several risk factors that increase rates. If you can lower your risk, you will be able to directly improve your bottom line.
Here are three steps you can take that will reduce your rates:
1. Restrict Alcohol
This may be one of the most expensive frills for the operator that an excursion can have. Because intoxicated people are so accident prone, and can lack sound judgment, alcohol service increases your risk dramatically. This may be necessary for your type of excursion, but it is worth thinking about.
2. Train Your Staff
You can’t ever be too careful when it comes to training your staff. Make sure that they have all pertinent certifications. Promote participation in continuing education, in order to keep safety in the front of your employees’ minds. One accident, which can be attributed to lack of training, might send your rates soaring.
3. Limit High-Risk Activities
A thrilling excursion is what passengers are looking for, but try to limit these to just one or two. For example, if your excursion includes boating, you may want to exclude alcohol. Even limiting drinking to certain hours might positively affect your premiums.
Part of being a responsible excursion operator includes being properly protected. Having the right insurance keeps your professional image, and relationship with Excursion Directors, intact. But, you don’t have to go broke staying covered. Keep these steps in mind, and ask your excursion insurance agent about ways you can increase passenger safety, and save money at the same time.