pl logo bar
Fall 2015  Volume 11, Number 3        
 

Waivers: Good Idea or No?

Some owners of waterfront property, pools, boats or high-risk vehicles such as ATVs and snowmobiles ask guests to sign liability waivers. Good idea or no?

High net worth individuals and families have a higher risk of lawsuit than other people. To protect themselves, some ask guests and visitors to sign a liability waiver before they engage in any potentially risky activity on the host’s property or using the host’s watercraft or vehicles.

What does a waiver do? A waiver is a document in which one or more people surrender certain rights. For example, when you park in a paid parking garage, your ticket might include a damage waiver on the back. The damage waiver states that you agree to waive your right to sue the garage owner for damage to your car. If you sign a liability waiver, you agree to waive your right to sue if you are injured or suffer damage to your property from a specified activity.

To be legally enforceable, a waiver should clearly state what the signer is agreeing to. It needs to be signed and dated to be official. Although you can buy waiver forms online, you should talk to your attorney to ensure that a waiver is enforceable and covers what you intend it to cover.

Asking people to sign a waiver can bring attention to potential risks…and for that reason alone it might be worth considering. For more suggestions on reducing your liability exposures, please contact us.

[return to top]

 

 

 

 

In this issue:

This Just In...

The Pitfalls of Domestic Help

When Words Become Weapons

Prep Your Home for Windstorm Seasons

Waivers: Good Idea or No?

 

 


The information presented and conclusions within are based upon our best judgment and analysis. It is not guaranteed information and does not necessarily reflect all available data. Web addresses are current at time of publication but subject to change. SmartsPro Marketing and The Insurance 411 do not engage in the solicitation, sale or management of securities or investments, nor does it make any recommendations on securities or investments. This material may not be quoted or reproduced in any form without publisher’s permission. All rights reserved. ©2015 The Insurance 411. Tel. 877-762-7877. www.theinsurance411.com