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Dive Shop Insurance

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Insurance for dive shops

Dive shop insurance NZ

Dive shop insurance is a comprehensive package designed specifically for businesses that deal with diving activities. It is not just one type of insurance. Instead, it is a combination of different insurance policies tailored to protect dive shop owners from a range of potential risks associated with their business.

Why is dive shop insurance important? 

Dive shops, like any business, face many risks. Some are general, like fire or theft, while others are specific to diving, like equipment failure or dive accidents. Having dive shop insurance ensures that you’re financially protected from unforeseen events. It’s not just about protecting your assets, but also about securing the future of your business and the safety of your customers.

In New Zealand, the average cost of dive shop insurance typically ranges between $100 – $200 per month. 

It’s crucial to have dive shop coverage if your business:

  • Rents out diving equipment
  • Offers guided diving tours
  • Provides dive training classes
  • Has a physical storefront location

What insurance covers are typically included in dive shop insurance? 

Public Liability

This policy covers common dive shop risks including bodily injuries, customer property damage, and advertising injuries. It’s required for most commercial leases.

Best For
  • Business Accident Coverage
  • Third-party Damages
  • Legal Cost Protection

Statutory Liability

This cover is a type of protection that helps dive shops cover costs if they accidentally break certain laws or regulations.

Best For
  • Unintentional breaches protection
  • Legal costs
  • Fines and penalties

Stock Insurance

Stock insurance in NZ is a type of coverage that helps protect dive stores from the loss or damage to the items they sell.

Best For
  • Mishaps 
  • Natural Disasters
  • Fires

Business Contents Insurance

Business contents insurance in NZ is for protecting all the important stuff inside a dive shop such as the fit out. If there’s a problem or accident, the insurance can help with the expenses.

Best For
  • Accidents 
  • Floods
  • Fires

Business Vehicle Insurance

Protects vehicles used for work purposes. It covers accidents, damages, and injuries related to the vehicle while it’s being used for business and personal activities.

Best For
  • Repair costs
  • Third party damages
  • Injuries 

Cyber Insurance

Insurance that helps protect dive shop businesses from financial losses caused by cyber-related incidents, like data breaches and computer attacks.

Best For
  • Ransomware attacks
  • Phishing scams 
  • Cyber extortion 

How much does dive shop business insurance cost?

Dive shop insurance premiums are calculated on several different factors including:

  • Types of cover
  • Turnover
  • Location 
  • Claims History 

Dive shop insurance in NZ typically costs between $100 to $200 per month

Who needs dive shop insurance?

Anyone who operates a business related to diving in New Zealand needs Dive shop insurance. This includes dive shop owners who sell equipment, provide training, offer dive tours, or even operate dive clubs. Even if you only conduct a part of these activities, having dive shop insurance ensures that all aspects of your business are protected.

No, Dive Shop Insurance is not a legal requirement in New Zealand. However, it’s highly recommended. Without it, you risk bearing the full cost of any unforeseen incidents, which could be financially devastating.

Yes, part of the Dive Shop Insurance package covers liability. This means if a customer or employee gets injured during a dive or while using equipment from your shop, the insurance can cover the related costs.

How do I get a dive shop insurance quote? 

We understand the unique needs of dive shops in New Zealand. Leveraging our extensive industry knowledge and partnerships, we provide comprehensive dive shop insurance quotes from the top insurers in the country. Entrust us with your requirements, and we’ll ensure you receive the most competitive and tailored coverage options available.

To obtain a dive shop insurance quote we may require you to provide some fundamental details about your business, such as:

  • The name of your business
  • The total number of employees
  • Predicted annual income
  • Years of experience in the industry

How do I get proof of dive shop business insurance?

You can usually get proof of dive shop insurance same day when you purchase insurance through Gerrards.

Acquiring a dive shop business insurance certificate from traditional insurance brokers may require a few weeks, a delay that could create problems for policyholders who need instant insurance proof for an imminent contract or project. We can typically provide a dive shop insurance certificate within 48 hours. 

To obtain insurance coverage promptly, contact one of our dive shop insurance brokers. 

What does dive store insurance not cover?

Normal Wear and Tear

Equipment inevitably ages and becomes less effective. Insurance isn’t there to replace equipment that’s just naturally worn out over time. For instance, if a wetsuit becomes less watertight after years of use, that’s not a claimable event.

Professional Negligence

Mistakes happen. If a staff member, for instance, gives inaccurate advice about diving techniques or equipment usage which then leads to an accident, standard policies might not cover the fallout. Separate professional liability insurance might be required for such scenarios.

Illegal Activities

Any damages or harm stemming from illegal activities or operations outside legal boundaries are naturally not covered. For instance, if your dive shop organizes unauthorized dives in protected marine areas and gets fined, your insurance won’t cover this.

Other common questions about dive shop insurance

Absolutely! Insurance providers, especially renowned ones like Gerrards, understand that each dive shop is unique. Tailored policies ensure you only pay for what you need while getting adequate protection.

This is a nuanced area. Generally, unintentional damages may be covered, but always verify specifics. Being proactive by educating divers on eco-friendly practices can also reduce such risks.

Dive Shop Insurance can encompass various diving forms. It’s essential to list all the types of diving activities your business deals with when securing a policy.

Policies vary. Some may provide international coverage, while others might only be valid within New Zealand. If you often organize overseas trips, it’s crucial to specify this need when obtaining or renewing insurance.

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