Insuring Indoor Parks, Family Entertainment Centers (FEC) and Other Amusement Industries
Insuring a children’s indoor park or playground shouldn't be a daunting task. The child amusement and entertainment industry CAN be a costly business to insure IF you don't know where to look. It requires a specialized insurance agency well adept at handling businesses in the sport, amusement and family entertainment sectors.
There are plenty of reputable risk management companies, which focus specifically on the entertainment industry such as:
family amusement parks,
skate parks, go kart tracks, carnival rides, laser tag, paintball courses, batting cages, rock climbing walls, water parks and bumper boats.
Even gymnastics and cheerleading have now been added to this growing group.
Underwriting a kid’s indoor park with an agent who has never covered this type of business in the past can be detrimental. This is mostly due to lack of experience in the industry, which can cost you as much as 3-4x the going rate with an experienced agency. (Trust me I know...I made that mistake!) The costs to you will be exorbitant and the ability of the agent to get accurate information to properly cover your business isn’t a risk you need to take.
When using a risk insurance carrier, you will not only gain an industry experienced liaison but will also significantly reduce your premiums. You will get the proper coverage needed for accidental injuries, meanwhile protecting your business from unnecessary claims.
Reputable insurance agencies will keep you abreast of changes in the industry, provide valuable information to help reduce the risk of accidents in your facility, and will keep you up-to-date on safety trends.
With your livelihood at stake, it’s a good idea when researching insurance companies and requesting quotes to work with A-rated carriers.