4 Reasons Why Liability Insurance Waivers Can be Worth Every Cent

If you’re providing services, tours, activities or experiences that hold some type of inherent risk, chances are you’ve at least considered using a liability waiver to help protect your business. But is it really worth the bother? There are several reasons that businesses, both large and small, ask their customers to sign a waiver before providing a service. Here’s why accurate liability waivers can be worth every cent.

 

Reason #1: Liability waivers help inform your guests about the risks involved 

Chances are you’ve signed a liability waiver before, and you might also remember reading through the risks involved. Doing so can encourage guests to take their and other guests’ safety seriously, and to go into the service or experience fully prepared. In fact, it’s possible that the very act of signing a liability waiver might motivate guests to listen more carefully to any safety guidance you need to provide.

 

Reason #2: They can help to protect your business

With a correctly drafted liability waiver, you or your business could potentially limit your liability for accidental physical injury or death as a result of experiences or services you provide. While these risks may be rare, they can be devastating if they do occur. It’s worth noting that laws vary by jurisdiction and it’s essential you refer to a legal advisor for advice specific to your business – however, there’s a reason many businesses use and collect liability waivers as standard business practice.

 

Reason #3: They may help to lower your insurance premiums

If you can demonstrate that you’re working to minimise and manage risk factors for your business, insurance providers may be more inclined to look favourably upon your business when assessing whether they can insure you. Liability insurance can be one of the single most important investments for many businesses, and while a liability insurance waiver is no guarantee of lower premiums it could help to demonstrate your dedication to risk management.

 

Reason #4: They can provide reassurance

Having a clear representation of risks involved in an activity can provide reassurance for your guests, your staff and your leadership team. By building an online liability waiver with Wherewolf, you can present safety and risk information in a way that shows the guest has actively read and understood the information: for example, using a multiple choice or multi-select question format. This means that as your guest experience or service begins, there’s faith that everyone is doing all they can to maintain safety. 

 

It’s simple to build, send and gather liability waivers electronically using Wherewolf’s online system. To get started with your own waiver, request a demo or sign up for your free account today.

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