Roller Skating Rink Insurance Michigan Policy Information
Roller Skating Rink Insurance Michigan. Roller skating rinks - also called simply roller rinks - are purpose-built facilities for indoor roller skating.
Roller skating rinks are used for recreational purposes, roller skating practice and lessons, roller derbies and other events. Many host birthday parties and other group events and have rooms specifically for these activities. Adult-only events and special themed activities, such as laser tag events, may be offered.
Competitive events may include inline hockey, speed skating, and jam skating. The rink may sponsor its own competitive teams. Skate and equipment sales, skate repair, and skating lessons are often provided.
Some roller skating rinks are owned by a governmental entity and operated or managed by private companies. Others are independently owned. Most are single location operations although there are some regional chains. A few facilities offer both ice and roller skating as well as other recreational facilities.
The roller skating rink is located inside a large open area building. The floor is wood or concrete, coated with a hard plastic coating that is reapplied and refreshed at least annually. Railings or dasher boards are placed around the outside of the rink to separate the skating area from spectators.
Rental skates are offered and provide a major source of revenue. Snack and refreshment facilities offer soft drinks, pizza, popcorn, and similar items. Sound systems are an integral part of the exposure to provide music and announcements.
Recreational roller skaters or inline skaters may come to a roller rink just to relax and keep in shape, but roller skating rinks may also provide lessons or host roller derby competitions. If you own and run a roller rink, or are currently thinking about opening one, your business will provide a much-wanted service to the community.
Those who own and operate MI roller skating rinks will, of course, do everything within their power to ensure that their business thrives. That includes protecting it from hazards, in the form of adhering to health and safety protocols and installing security systems, for instance.
Should circumstances beyond your control impact your roller rink despite your best efforts, you will truly understand the value of proper insurance coverage. What kinds of roller skating rink insurance Michigan might be needed, though? To get some pointers, keep reading.
Roller skating rink insurance Michigan protects recreation operations from lawsuits with rates as low as $67/mo. Get a fast quote and your certificate of insurance now.
Why Do Michigan Roller Skating Rinks Need Insurance?
Like all other businesses, roller skating rinks always have the potential to be impacted by unexpected circumstances and events that can pose a serious danger to the company's financial future. Some of the risks roller skating rinks may be faced are virtually universal, while others are more unique to your operations.
In both cases, the losses can be so devastating that it may be hard to recover, unless you have the right insurance on your side to help your business bounce back.
Roller skating rinks might comfortably able to handle the costs of minor incidents, like a pipe that bursts or a window that is smashed.
Acts of nature like wildfires, earthquakes, severe floods, or hurricanes can, on the other hand, cause such extensive damage that being improperly insured could easily lead to bankruptcy. Even crimes like theft and vandalism can sometimes have a massive impact.
Owning a MI roller rink, it is also important to consider what might happen in the event that an employee is injured at work - or a customer, for that matter. Both these scenarios are associated with significant liability-related expenses.
These and other perils are always challenging. An operation that has invested in quality insurance will find, however, that they do not have to be ruinous, as proper roller skating rink insurance Michigan coverage will help your business get back on its feet quickly.
What Type Of Insurance Do MI Roller Skating Rinks Need?
As the owner of a MI roller skating rink, your company would generally be considered to fall into the "small business" category. Many insurance plans are available for small businesses, but it is nonetheless advisable to consult with a commercial insurance broker and evaluate each type of coverage separately.
This is because the kinds of insurance that optimally protect your business are as unique as your roller rink itself. Keeping this in mind, some of the types of roller skating rink insurance Michigan that will be essential include:
- Commercial Property: Whether you own or rent your facility, this type of roller skating rink insurance Michigan is a must-have. It guards your roller rink from financial losses in the event that you fall victim to perils like theft, vandalism, natural disasters, or other accidents. In these cases, it covers not only damage to the physical building, but also the assets within, such as sound and lighting systems.
- General Liability: Designed to help you manage the legal costs associated with third party bodily injury or property damage claims, every business also needs at least this most general type of liability coverage. Should a customer trip on an uneven surface and become injured, or should you damage assets you lease (such as vending machines), for example, a portion of the costs will be reimbursed.
- Workers' Compensation: If one of your employees sustains an injury at work under circumstances for which you could be held responsible, workers' comp insurance helps your company pay for their medical bills. Any wages lost to related work absences are also covered under these policies.
Remember to consult a commercial insurance broker, familiarizing them with your company's risk profile in the process - while the types of roller skating rink insurance Michigan looked at here are vital, your individual operation may opt to invest in other forms of coverage, such as business interruption insurance, as well.
MI Roller Skating Rink's Risks & Exposures
Premises liability exposures are significant due to the large numbers of visitors on premises and the type of operation. While falls are inevitable, the activities and conditions of the rink can be controlled to keep slower skaters separated from more experienced or aggressive skaters and reduce the frequency of falls.
Knee, elbow, and wrist guards, in addition to helmets, are recommended for all participants. Skate guards should be present to enforce posted rules. Written rules should be posted, and procedures should be in place to remove individuals who violate those rules.
Skating floors should be regularly checked to identify and repair any uneven areas in surfaces. Spectator liability can be a concern as floor surfaces may be slick. Parking areas should be well maintained and free of snow and ice.
Poorly maintained rental skates can contribute to falls that result in broken legs and ankles. The rink 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. Contracts are important when sponsored events take place on premises.
Product liability exposures are from sales of skates and related equipment, food, and drink. Inadequate equipment repair can result in injury to skaters.
Workers compensation exposures are moderate. Skating employees, including instructors and rink guards, may be injured in falls or from a collision with customers or stationary objects. Maintenance operations may result in lung, eye, or skin irritations and reactions from the floor coatings during the refinishing process.
Snack bar employees are exposed to possible burns and kitchen related cuts, slips, and falls. Employees may be required to work at heights to change lights or to work on overhead equipment.
Maintenance operations may result in lung, eye or skin irritations, and reactions during refinishing processes. Customers may become unruly and harm employees.
Property exposures from fire are high due to the extensive electrical wiring for lighting and sound systems and the flammable coatings used to cover the floor. Equipment used for audio/visual effects can be elaborate and expensive. Electrical wiring must be in good repair and adequate for operations.
Refinishing operations should be well ventilated to prevent the buildup of flammable vapors. The coating containers should be stored away from heat sources. Because the floors are susceptible to warping if exposed to water, foam based instead of water based sprinklers should be used.
The roofs of the buildings are susceptible to collapse if the large roof expanse is not adequately supported. Cooking exposures are normally light. If cooking involves more than popcorn makers or pizza ovens, all cooking equipment must be properly controlled.
Rinks may be a target for vandalism or theft. Business income loss potential is high unless backup facilities are available.
Equipment breakdown exposure may be high due to the heating and air conditioning systems, electrical control panels, and lighting and sound equipment used for skating events. Breakdown and loss of use could result in a significant loss, both direct and under time element, if replacements parts are unavailable or repair time is lengthy.
Crime exposures are from 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 bank deposits made.
Money should never be left on the premises overnight. When tournaments, exhibitions, games or other sponsored events occur, cash can increase considerably requiring extra security.
Inland marine exposures include accounts receivable if the rink bills customers for services, audio-visual equipment, computers, ice surfacing equipment, and valuable papers and records for suppliers' information. Computers may be used to program music and other special effects in the rink.
If the rink assumes responsibility for the skating equipment or other personal property of guests while on the premises, bailees customers coverage should also be considered. There may be off site exposures if the rink sponsors teams for competitive skating events.
Business 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 rink sponsors a traveling team and provides team transportation, the vehicle driver should not be a team member.
Roller Skating Rink Insurance Michigan - The Bottom Line
Having the correct roller skating rink insurance Michigan coverage is important for protecting your business, its customers and employees. To learn what types of coverage options are available to you, and how much your coverage will cost, speak to a commercial insurance agent.
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.
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