Here is who lost that day: 1. The man who lost his life for a text. 2. The man’s family. 3. Barth filed for bankruptcy, lost his home, and had no
money for restitution to the family of the deceased. 4. Two families who filed bankruptcy because they
made baits, compensated Barth, hoping to benefit
from the advertising exposure. 5. The tackle store.
HOW TO DO IT RIGHT:
1 - As an Angler:
If you receive ANY financial incentive from a company that is promoted with their vehicle – whether it is free jigs or a percent off tackle or whatever, make sure you have and you communicate you have, IN WRITING, that a commercial, or business use endorsement on your vehicle.
Make certain you purchase a reasonable amount of liability insurance AND make sure you can add the sponsor company as additional insured.
The benefit to you is the correct protection. The benefit to your sponsor is the protection of their assets.
2 - As a Business Owner:
Make sure you receive a certificate of insurance from the angler that is using their vehicle to promote for you, when there is a defined arrangement for discounts or money.
If the angler wraps a boat and the bulk of their income is from fishing OR NOT make, sure you secure a copy of their policy and an additional insured document on the insurance company’s form and not an agent certificate.
HERE IS MY SETUP:
I have a business arrangement with the companies on my wrapped truck. My boat is not wrapped as I personally and professionally do not think it is a good idea, for me.
There is one dealership sticker and I do receive a discount from the dealer in which they are named additional insured.
I carry a $500,000 liability limit on my truck (Business and Personal Use / 18,000 miles a year). I have all companies named as additional insured.
I carry a $2,000,000 Business and Personal Use Umbrella. I have a general liability policy covering me on land for my sponsorship activities. This policy has a $1,000,000 limit.
While cost will vary greatly based on factors, here is mine: • Auto: $3,250 annual • Umbrella: $299 annual • General Liability: $550 annual
We debate often about the definition of a pro angler. You do not need to be a pro angler to get served in a lawsuit.