Michigan Skatepark Insurance Policy Information
Michigan Skatepark Insurance. Commercial skateparks may be indoors or outdoors, and offer a wide variety of different ramps where skaters can practice their sport. Many commercial skateparks, becoming bustling hubs of activity, offer skateboarding lessons as well as hosting competitions.
Skateparks are recreational facilities used by skateboarders, inline skaters, and even BMX bicycles for practice and lessons, competitions, and other events. The parks are constructed of concrete and steel.
Masonite, and/or wood construction includes numerous obstacles including bowls, boxes, pipes, pyramids, rails, ramps, and slalom runs to challenge participants. These facilities may be part of a municipal park department, owned and operated by a non-profit organization, or privately owned.
Skateparks may be located indoors or outdoors. Indoor parks are in large warehouse-type buildings and are usually privately owned. Outdoor parks may be located within an existing park or at a separate location.
Public parks usually do not have attendants or an admission charge. Private skateparks charge admission but are attended and supervised. They may provide lounges or similar facilities for parents to use while waiting for their children.
Equipment is available for sale or rent, lessons are offered, and snack food is sold at both types of facilities.
Although the risks of skateboarding can be reduced through proper technique and the use of protective gear, it is important to remember that skateboarding is generally counted among the so-called "extreme sports" - sports that carry a high risk of injury.
This is just one reason why those who own and run commercial skateparks carefully need to evaluate what kinds of insurance coverage they need to protect their business. Read on to find out what types of Michigan skatepark insurance are needed.
Michigan skatepark insurance protects your facility from lawsuits with rates as low as $97/mo. Get a fast quote and your certificate of insurance now.
Why Do MI Skateparks Need Insurance?
Like all other businesses, commercially-operated skateparks face a multitude of risks - both perils common to all companies and hazards specific to your area of commerce could pose a significant threat to the future of your company. Carrying the appropriate insurance helps skateparks recover from any threats that might come their way.
Customers may sign waivers as they use your skatepark, for instance, but that does not protect your company from liability if someone is injured because of an error in ramp maintenance, or even a slippery floor.
Employees, too, may become injured, holding a commercial skatepark liable in the process. Scenarios directly related to skating are far from the only possible culprits - even an icy parking lot could become a hazard.
MI skateparks are vulnerable to the same threats that pose a risk to any business, too. Acts of nature, like wildfires, earthquakes, or serious floods could render your facility unusable.
This could result not only in costly repair fees, but also revenue lost to business interruptions. Theft and vandalism are two further examples of risks any business has to contend with.
For a skatepark that does not carry the right insurance, any of these perils could be catastrophic and potentially bankrupting. Armed with rock-solid coverage, however, these threats can be overcome.
Investing in the right Michigan skatepark insurance is, therefore, the same as investing in the future of your business.
What Type Of Insurance Do Michigan Skateparks Need?
The modern insurance market offers numerous different kinds of policies that can protect businesses from almost any peril they may face. The exact types of insurance a commercial skateboard will need are influenced by factors that include the types of ramps it uses, its location, whether it is indoor or outdoor, and how many employees it has.
Partnering with a commercial insurance broker is the most effective way to make sure that your company obtains the Michigan skatepark insurance that will best protect it. Having said that, skateparks will unquestionably need:
- Commercial Property - This essential form of insurance exists to protect your company's financial health in the event that your facility is affected by perils that include acts of nature, theft, and vandalism. It can cover not just your physical building - if you have one - but also its contents, such as ramps, and outdoor assets.
- Commercial General Liability - This type of Michigan skatepark insurance protects your financial interests in the event that a third party sues your company claiming that you are responsible for bodily injury or property damage, such as a customer who broke a bone while skating at your facility. This form of insurance helps you pay for your attorney fees in these cases, but also covers settlement payouts.
- Workers' Compensation - In any field of commerce, employees can be injured at work - and skateparks are no exception. If your company is, in any way, responsible for the circumstances that caused the injury, you can be held responsible for the costs that follow. Workers comp protects you from this, by covering an injured employee's medical costs as well as any wages they may lose to related work absences.
Those who own and operate commercial skateparks in MI should bear in mind that their individual business may have insurance needs beyond these types. Any company that uses vehicles for commercial purposes should carry commercial auto insurance, for example, and skateparks may also want to consider business interruption insurance.
To find out what Michigan skatepark insurance options are best for your company, talk to a commercial insurance agent.
MI Skateparks' Risks & Exposures
Premises liability exposures are significant due to the number of visitors to the premises and the type of operation. Skateparks are designed for exciting tricks and maneuvers that can be very dangerous to participants. Skate guards should be present to enforce posted rules.
Waivers should be signed by participants or parents of minors acknowledging the risk of the activities and kept on file. Knee, elbow and wrist guards, and helmets should be required for all participants. The chance of serious injury increases when a participant becomes airborne, making open pipes particularly dangerous.
Congestion should be controlled, markings should be clear and rules posted and enforced. Parks that permit BMX bikes in addition to skating have an increased exposure because of the greater possibility of injury and damage should a bike hit a person.
Spectators should be separated from skateboarding and bike areas to prevent injury should a skateboard, bike, or participant become airborne.
Skateboard areas should be regularly checked to identify and repair any open gaps or uneven seams in surfaces. Parking areas should be well maintained and free of snow and ice. The park may present an attractive nuisance hazard when not in use.
There must be adequate security to prevent unauthorized entry. The rink may have personal injury exposures from discrimination, defamation of character, wrongful eviction, false arrest, or unlawful detention.
Product liability exposures are from sales of skateboards and related equipment, food, and drink. Inadequate equipment repair can result in injury to participants.
Workers compensation exposures are based on the type of equipment in the skatepark. Employees can suffer strains and falls or collide with customers, airborne skateboards, bikes, or stationary objects.
Some equipment may require employees to work in awkward positions or work at heights or elevations. Employees may be required to work at heights to change lights or to work on overhead equipment at an indoor facility.
If skateboarding lessons are given, employees may be injured while providing the lessons. Snack bar employees are exposed to burns and kitchen related cuts, slips, and falls. Maintenance operations may result in lung, eye or skin irritations, and reactions during refinishing processes.
Property exposures are very limited at an outdoor facility as most of the property is made of concrete, steel or masonite and is not susceptible to damage. Indoor facilities located inside large warehouse buildings are susceptible to roof collapse if the large roof expanse has inadequate support.
At indoor facilities, there may be extensive lighting or sound systems. Electrical wiring must be in good repair and adequate to support operations. Cooking exposures are usually light. If cooking involves more than popcorn makers or pizza ovens, all cooking equipment must be properly controlled.
Skates, skateboards, and other equipment may be targets for theft. Skateparks may be a target for vandalism. Business income loss potential may be high if backup facilities are not available.
Crime exposures include employee dishonesty and money and securities. Background checks should be conducted on all employees handling money. As admissions may be paid in cash, cashiers' drawers should be kept stripped with regular deposits made.
Money should never be left on premises overnight. When tournaments, exhibitions, games or other sponsored events occur, cash can increase considerably requiring extra security.
Inland marine exposures are very limited. If the rink assumes responsibility for the equipment or other personal property of guests while on the premises, bailees customers coverage should be considered. There may be off site exposures if the rink sponsors teams for competitive events.
Commercial auto exposures are generally limited to hired and non-owned for employees running errands. If there are owned vehicles, they must be maintained on a regular basis with all service documented. All drivers must be properly licensed and have acceptable MVRs.
If the skatepark sponsors a traveling team and provides team transportation, the vehicle driver should not be one of the team members.
Michigan Skatepark Insurance - The Bottom Line
To find out more about the specific types of Michigan skatepark insurance policies you'll need and how much coverage you should carry, consult with a reputable broker that is experienced in commercial insurance.
Michigan Economic Data And Business Insurance Requirements
Business owners who are interested in establishing operations Michigan must have a thorough understanding of the state's economy. They should also familiarize themselves with any regulations and limits that state may have in place for commercial insurance.
Any entrepreneur who is thinking about starting a business in the Great Lake State first needs to determine if it's a feasible location for business operations. As such, it's important to have a keen understanding of pertinent details regarding the economy of Michigan, in addition to the types of insurance coverage that are mandatory for corporations that operate within the state.
Economic Trends for Businesses In Michigan
After a long period of stagnant job growth in the early part of the 21st century, MI has been experiencing a steady increase in employment gains. Between 2009 and 2018, the state has enjoyed a period of uninterrupted job growth; the longest stretch of job growth since World War II. According to economists at the University of Michigan. While there has been a slight decline in the rate of job growth, job creation continues and forecasters say will continue for the next two years, into 2021.
In 2018, an estimated 55,200 jobs were created; in 2019, it's expected that 35,800 jobs will be created, and in 2020, economists believe that there will be a total of 39,300 jobs created in Michigan. While that rate of growth is 1.9 percent slower than the job growth rate between 2011 and 2016, it is still a steady increase overall. In total, approximate 683,200 jobs will be created in MI between 2099 and 2020; almost four out of the five jobs that were lost during the early part of the 21st century will be recovered.
While the unemployment rate has steadily improved, it is still above the national average. In March of 2019, the national unemployment rate was 3.8 percent, while in the state of Michigan, it was 4.0 percent. Mid-Michigan has experienced the largest growth rate in the state, and according to forecasters, it looks like that trend will continue, moving forward. Industries that are expected to see the most growth include:
- Energy, due largely to research and development in clean energy
- Food and agriculture
- Transportation and mobility
- Healthcare industry
- Information and technology
In the state of MI, business owners are not legally required to carry liability insurance; but most entrepreneurs opt to invest in a General Liability or Business Owner's Policy (BOP). A commercial auto insurance policy is also required for any businesses that use motor vehicles to conduct any aspect of their business operations. Workers' compensation insurance is also required for any businesses with non-owner employees. While the following forms of coverage are not required, depending on the type of business you operate, they are recommended:
- Data breach insurance
- Business income insurance
- Commercial Umbrella insurance
Additional Resources For Arts & Recreation Insurance
Read up on small business arts and recreation commercial insurance.
- Amusement Parks
- Archery Ranges
- Athletic Fields
- Billiard And Pool Halls
- Bowling Alleys
- Cave Tours
- Dance Studio
- Disc Jockey DJ
- Drive-In Theaters
- Entertainers And Performers
- Event Planning
- Fairs And Fairgrounds
- Film Production
- Fine Art
- Guides & Outfitters
- Handball & Racquetball Courts
- Horse & Dog Racetracks
- Indoor Sports Complexes
- Interior Decorator
- Interior Design
- Motorsports Racetracks
- Photo Booth
- Recording Studio
- Recreation Centers
- Riding Stables
- Roller Sakting Rinks
- Shooting Ranges
- Skeet & Trap Shooting Ranges
- Ski Resorts
- Talent Agency
- Tennis Centers
- Video Arcades
- Wedding And Special Event
Commercial insurance policies for arts, entertainment and recreation are specialized policies that protect against the unique risks that arts and recreation businesses face.
Performing artists and companies, entertainers including musical groups, theatre groups, comedians and more, writers, performers, photographers, videographers, DJ's and so many other types.
Professional liability coverage (errors and omissions) is needed in these cases to protect their financial interests due to mistakes, errors or omissions by these professionals in doing their jobs. Fr example - a bride and groom did not like the way their wedding photos turned out.
Or a wedding planner might plan a lavish wedding, but the bride's parents who are paying for it did not like the way it went. There is a lot of gray areas with arts, and you need to be protected if your clients don't agree with you that your work was what the agreed to.
If your business is involved with children, you need to review your coverages very carefully so certain important protections are not excluded. Abuse and molestation insurance might be needed to fully protect yourself in this instance.
Minimum recommended small business insurance coverage: Business Income with Extra Expense, Employee Dishonesty, Money and Securities, Accounts Receivable, Commercial Articles Floater, Computers, Valuable Papers and Records, General Liability, Employee Benefits Liability, Umbrella Liability, Hired and Non-owned Auto Liability & Workers Compensation.
Other commercial insurance policies to consider: Building, Bailees Customers Floater, Money and Securities, Cyber Liability, Employment-related Practices Liability, Business Auto Liability and Physical Damage and Stop Gap Liability.
Request a free Michigan Skatepark insurance quote in Adrian, Allen Park, Allendale, Ann Arbor, Auburn Hills, Battle Creek, Bay City, Berkley, Beverly Hills, Big Rapids, Birmingham, Burton, Cadillac, Clawson, Coldwater, Cutlerville, Dearborn, Dearborn Heights, Detroit, East Grand Rapids, East Lansing, Eastpointe, Escanaba, Farmington, Farmington Hills, Fenton, Ferndale, Flint, Forest Hills, Fraser, Garden City, Grand Haven, Grand Rapids, Grandville, Grosse Pointe Park, Grosse Pointe Woods, Hamtramck, Harper Woods, Haslett, Hazel Park, Highland Park, Holland, Holt, Inkster, Ionia, Jackson, Jenison, Kalamazoo, Kentwood, Lansing, Lincoln Park, Livonia, Madison Heights, Marquette, Melvindale, Midland, Monroe, Mount Clemens, Mount Pleasant, Muskegon, Muskegon Heights, New Baltimore, Niles, Northview, Norton Shores, Novi, Oak Park, Okemos, Owosso, Pontiac, Port Huron, Portage, Riverview, Rochester, Rochester Hills, Romulus, Roseville, Royal Oak, Saginaw, Sault Ste. Marie, South Lyon, Southfield, Southgate, St. Clair Shores, Sterling Heights, Sturgis, Taylor, Traverse City, Trenton, Troy, Walker, Warren, Waverly, Wayne, Westland, Wixom, Woodhaven, Wyandotte, Wyoming, Ypsilanti and all other MI cities & Michigan counties near me in The Great Lakes State.
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