What Sports, Arts, Entertainment & Recreation Insurance Is All About:
The sports, arts and entertainment industry is one of the fastest growing industries in America. The risks to businesses of this industry include injury to performers, athletes and audience members as well as damage to equipment during large events.
From concerts and games to festivals and other events, companies in the sports, arts and entertainment industry rely heavily on insurance to ensure that their business is protected from any mishaps or accidents.
At CoverWallet we help those who love to play feel secure through the stressful time of an event. We cover all your bases, ensuring a safe and fun time for everyone involved.
Who Needs Sports, Arts, Entertainment, and Recreation Insurance?
What insurance do you need in the Sports, Arts, Entertainment, and Recreation industry?
General Liability Insurance covers your liability related to accidental damage of a client’s property, as well as bodily injury to clients on your property.
Example... A customer trips and falls on your commercial property, sustaining injury. General Liability covers their medical bills and your legal defence costs if they sue you.
Business Owners Policy (BOP) is popular among professionals working in the sports, arts and entertainment industry because it combines the features of General Liability and another policy, typically commercial property.
Example... A visitor at your entertainment venue trips and falls through a window, sustaining injury and damaging property. BOP covers their medical costs, your legal fees and repair or replacement costs.
Workers compensation insurance is needed when you have large crowds of people gathering in one place and your employees are injured on the job.
Example... During a fitness and cultural event for tourists, your employee pulls a back muscle. Workers compensation insurance covers her medical bills and lost work time.
Commercial Auto Insurance is needed by Sports and recreation organizations that own or rent vehicles for business purposes.
Example... On the way to an event, your employee collides with another motorist, damaging both cars and injuring the motorist. Commercial Auto Insurance covers their medical fees and the repair costs to both vehicles.
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FAQs: Sports, Arts, Entertainment, and Recreation Insurance
Which businesses fall under the category of "sport"?
Sports, for example, are usually defined as any physical activity that is both competitive and physical. However, the definition of what constitutes a sport continues to expand, now including such things as competitive eating and even competitive gaming.
Those who work as professionals in this field can be anything from the coaches and sports managers to those who work own and operate sports-related facilities.
Which businesses fall under the category of "arts"?
Professionals in the arts typically involve groups of artists working together.
Often artists will coordinate with engineers and architects to create public displays, as commissioned by local governments or private businesses.
Many professionals in this industry also own and operate their studios or galleries, seeing a lot of foot traffic on a daily basis and selling artwork directly to customers.
Which businesses fall under the category of "recreation"?
Recreational activities are anything that people can enjoy outside of work. While artists and athletes may enjoy their work, recreational facilities exist for people to relax. Such facilities, such as pools, gyms, and recreational centers, are often heavily utilized.
Cities, in particular, will often have several forms of recreational centers, employing staff specializing in different types of recreation.
How much does Sports, Arts, Entertainment & Recreation Insurance cost?
With so many different types of businesses in this industry, premium costs will vary widely depending on the nature of yours.
As with most policies, your rates will likely take into account your location, size, previous claims and any inherent risks associated with your line of work.