Insurance for Amusement and Recreation Industries
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What Insurance Do Amusement and Recreation Industries Need?
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
Business Interruption Insurance protects your small business if impacted by a covered risk. It'll cover the costs in replacing lost income and paying for additional expenditures. Also known as Business Interruption Coverage, this policy is usually part of your BOP (Business Owners Policy).
Frequently Asked Questions
Why do Amusement and Recreation Industries need insurance?
Businesses in this industry provide amusement and recreational services such as miniature golf courses, archery or shooting ranges, recreational day camps, riding stables, boating clubs, exhibits, mechanical rides, and refreshment areas.
Your business needs insurance to protect against the many known and unknown risks that it could possibly face. It protects your business and even personal assets by covering for the costs of medical payments, lawsuits, defense costs and other related expenses when a covered incident happens.
What risks do Amusement and Recreation Industries face?
Your business is prone to a lot of unique risks, below are some examples:
- A customer trips at your amusement park, causing him or her to suffer injuries. Therefore, you are responsible for the medical expenses. If it got worse then your client may file a slip and fall claim.
- One of your equipment malfunctions, causing your business to close temporarily and lose a huge amount of your expected profits for the day.
- Your employee got sick on the job, and he needs medical payments to get well again.
How much does insurance for Amusement and Recreation Industries cost?
The cost of insurance for the amusement and recreation industries usually depends on the size of the business, the number of employees you have and the coverage required. If you want to know the cost for your business immediately, simply apply for a free quote online or talk directly to one of our insurance experts.