Who provides insurance for rental businesses

[SegwayOfPhoenix]

I am looking for insurance companies to insure the rentals side of our business does anyone know of a company other then Stanton that can provide this type of insurance?

Thanks,

[Desert_Seg]

I'm working with company now to see if they can provide world-wide coverage.

They do have representation in MOST countries / regions so f this works, and I'm told it should, they would (obviously) have varying rates across the world.

CAVEAT: This does NOT mean that everybody will be insured nor does it mean that they will provide coverage in every country, city, or town. World-Wide is a descriptive term to denote that they are known and have offices in many locations around the world (phew, the lawyer in me is now happy!)

Steven

[Florida Ever-Glides]

When thinking about Segway rentals, look at the big picture. Insurance companies are much better at assessing risk than we are. Therefore, there is a reason that getting Segway rental insurance is almost impossible. If the risk is unacceptable to them, it should be to you too. Simple logic. Look for a safer way to make a buck with a Segway.

People call everyday asking to rent our Segways. I would have made a lot more money in the short term doing rentals. But, in the long term, if I am going to have a excellent reputation, happy/safe customers, and be able to sleep at night, I won't touch rentals for all the money in China.

I have been doing tours almost three years now without any major incident. If I had decided to do Segway rentals I guarantee you that I would probably be out of business due to litigation issues.

I was Stanton & Associates 1st Segway business client (I found them, ask Lora), I advised her in how to 'responsibly' write safe Segway related businesses. This collaberated effort is one reason why the number of Segway related claims is very low today.

Whatever the business model, please, please put the safety of your customer first. Rentals don't always do this...

[RC Mike]

Originally Posted by Florida Ever-Glides

Whatever the business model, please, please put the safety of your customer first. Rentals don't always do this...

Whatever you are thinking, if you cannot teach basic Segway usage in 20 minutes, including things like "if you push the limiter you take life and limb in your hands," and "top speed is 8 mph, and if you try to go faster you WILL get hurt." than you should get out of the Segway business.

Mike

[Desert_Seg]

I'd like to clarify something. The insurance I'm working on is world-wide Segway TOUR insurance, not individual rental.

Experience has shown tha the life of a Segway is much shorter if you do individual rentals AND, as Tom said, it will be difficult to find an insurance company who is going to insure a rental business. Liability is a huge problem.

Steven

[RC Mike]

Like I said, if you cannot convince your renters that to push the limiter is DANGEROUS you should not rent, be done. I show this by going onto the stick shake warning. I also show it by going slower on the limiter that off limiter.

Mike

[Seacoast Fun Rides]

I rent Segways in New England ( www.seacoastfunrides.com ) and let my clients take them overnight and longer. I sleep well at night. I took the coach's training at the Segway factory, so in addition to my years of experience as a Certified Flight Instructor I am qualified to give the orientation training. When I deliver a Segway for a rental I give the full briefing - the same training a new owner would get. Sometimes I spend more than an hour with my clients before I turn them loose with my equipment. People learn at different rates - I train until I see the same operational competence in my segway students that I see in student pilots before they solo. I keep the red key as a reward to those who have demonstrated their competence and sense of responsibility and I make my policy clear- if you break it you pay for the repair because the deductible on my insurance is so high.
I do have a mission; to earn public acceptance of the Segway. To accomplish the mission, more people need to understand why the Segeway is not just another scooter they need to try it at an affordable price.