Despite record-breaking bookings and sales, both RV and camping industries are not immune to the effects of the COVID-19 pandemic. Admittedly, park owners and operators are facing hurdles brought about by the pandemic.
Challenges in insurance, staffing, and supply issues are just a few.
In a letter addressed to association members, Florida and Alabama RV Park & Campground Association (FRVCA) President & CEO Bobby Cornwell acknowledged the insurance issues that members face.
The changes to the insurance industry are also affecting the Florida RV park insurance. As a result, more members are reporting the difficulty of getting insured. They have also reported that rates are skyrocketing, placing a strain on the campground industry and park operators.
Cornwell attributed these changes to some RV park insurance companies limiting insurance in the state. He said that RV parks are experiencing non-renewals and significant rate increases because of this.
To combat arising issues, the association’s president and CEO reminded members to take a proactive approach and look for insurance at least 3 to six months before their policy is renewed or canceled.
In a message to its members, the FRVCA listed the top things that parks need to know to ensure proper insurance coverage this year. The RV park and campground association advised owners to be careful of policies with many exclusions that may expose them to lawsuits. The group also noted the importance of exploring options through meeting various agents and brokers for property and liability coverage.
“Look for a broker or agent that can match the features, location, risk management, and circumstances of your unique park with the right carrier. This is not a transaction, it’s a relationship with ongoing problem solving to benefit you,” the message reads.
In getting insured, FRVCA said that owners and operators must be ready to present their safety and procedures to show that their park is a good risk to insure, noting that “safe parks get the better rates.”
Lastly, thinking ahead and planning for increases in premium help in dealing with price hikes. Adjusting pricing is one way of protecting profits in the coming year.
Cornwell assured members that the association is willing to help, saying the FRVCA works with many insurance suppliers. Members who want to get in touch with insurance providers will be given a list per their request.
“In addition, our Board of Directors is considering all options and possible solutions, and we are currently meeting with insurance experts to explore what can be done through the association to help you,” he said.
To learn more about the Florida RV Park & Campgrounds Association, visit their website here.
Understanding the challenges RV park owners and operators face, showing proactive steps is essential to adapt to the changing insurance landscape. Exploring alternative insurance options and seeking guidance from industry professionals can help safeguard your park amidst the evolving insurance industry. It is important to stay informed and prepared for these changes to ensure the continued success and protection of your park.
Navigating insurance changes can be like a puzzle in the dark, but the FRVCA’s tips shed light on proactive strategies and careful policy selection for Florida RV park owners. Rev up those engines and stay ahead of the game with their savvy advice!