Specialty Amusement Parks And Rides Insurance

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The Specialty Amusement Parks And Rides Insurance Guide

Amusement Parks And Rides Insurance

Amusement Parks And Rides Insurance. This guide provides information on excess, surplus and specialty lines small business insurance policies and risks.

Here you can find basic descriptions of the specific industry risks or specialty coverage types available for Amusement Parks And Rides Insurance.

For certain types of small businesses, particularly new ones - it is often very hard to know what types of commercial insurance is needed, what the risks are that should be covered - and where to find coverage.

We wanted to provide reference for specialty commercial insurance to help our readers get a better understanding of Amusement Parks And Rides Insurance policies they might need to do business.

Learn about Specialty Amusement Parks And Rides Insurance to better understand common risks, exposures and the types of commercial insurance coverage available to protect your small business and it's operations.

Amusement Parks And Rides Insurance Types

Click on the links below to learn more about Specialty Amusement Parks And Rides Insurance types and coverages:



What Type Of Insurance Do Amusement Devices (coin-operated) Need?

This class of business can be difficult to place. The popularity of coin-operated amusement devices has spread from amusement parks and carnivals to supermarkets, public parks, and shopping centers. Most standard markets are unwilling to write such devices because they are often unattended.


What Type Of Insurance Do Amusement Parks And Fairgrounds Need?

Permanent amusement parks and fairgrounds are easier to insure than movable, portable, and short-term carnivals and circuses. Property coverage may be a problem due to electronic devices, food service operations, lack of public fire protection, the potential for vandalism, and because many of these operations are seasonal. Liability coverage protects the amusement park owner or fairgrounds operator against claims for bodily injury and property damage that arise from premises and operations at specific locations.


What Type Of Insurance Do Amusement Rides Need?

Amusement rides range from relatively tame and mundane carousels and merry-go-rounds to breath-taking roller coasters and other thrill rides. Permanent, fixed-base amusement rides are more desirable insurance risks than the carnival rides that are constantly moving from one location to another. Permanent rides are considered safer because they are not constantly being disassembled at one location, moved, and then re-assembled at a new location. Another advantage is that the concessionaire or one of its employees is assigned to a device and must meet established minimum safety standards. These rides are also subject to various state safety inspections. Coverage is available for midway stands, games of chance, and shooting galleries. Some companies also provide property coverage on these rides.


What Type Of Insurance Do Animal Rides Need?

Animal ride concessions are popular attractions and can be found at permanent amusement parks, zoos, carnivals, shopping centers, and church, civic, and fund-raising bazaars. The primary underwriting concern is injuries to young children that arise when careless attendants are combined with untrained animals.


What Type Of Insurance Do Carnivals and Circuses Need?

Carnivals and circuses are similar to amusement parks but they are much more difficult to place because they are mobile. They travel to and from a number of different locations, employ short-term employees (or hire short-term contractors or concessionaires), and must dismantle and reassemble rides and amusement devices at each stop. It is much easier to obtain liability insurance for sponsors of carnivals and circuses, such as churches, schools, municipalities, and fraternal organizations, than it is to cover the carnival or circus itself and its variety of concessionaires.


What Type Of Insurance Do Horse And Carriage Risks Needs?

Horse-drawn carriage operators conduct rides through downtown hotel and theater districts as they cater to tourists and business convention attendees. Liability coverage is also available for carriages and sleds that are used in commercial livery businesses for touring or as a part of a special event such as weddings, after proms, or convention tours. Underwriters are concerned about where carriages operate, the extent of lighting when operations are performed at night, the routes used to get the horses from their stables to the operating area and the experience of the drivers.


What Type Of Insurance Do Inflatable Amusement Devices Operators Need?

Special events often include inflatable devices such as bouncy houses, slides, and other types that are designed for children and adults. Liability coverage is often provided by the vendor supplying the items but due to the potential for injury, supplemental coverage should be considered.


What Type Of Insurance Do Rental Inflatable Amusement Devices Need?

Bouncy houses and other types of inflatables are common attractions at birthday parties, community activities, and corporate picnics. Liability exposure includes not only the device itself but also the proper installation. Inland marine coverage may be needed to protect the specific items while off premises while property coverage could provide coverage while on premises.


Amusement Parks And Rides Insurance - The Bottom Line

We hope that the Amusement Parks And Rides Insurance helps you to better understand the some of the specialty small business commercial insurance policies available for your business. To find out what types of coverage your unique business needs, speak to a professional commercial broker with experience in insuring businesses like yours.

Specialty Small Business Insurance Guide By Industry, Risk Or Policy Type



Types Of Small Business Insurance - Requirements & Regulations

Perhaps you have the next great idea for a product or service that you know will appeal to your local area. If you've got a business, you've got risks. Unexpected events and lawsuits can wipe out a business quickly, wasting all the time and money you've invested.

Operating a business is challenging enough without having to worry about suffering a significant financial loss due to unforeseen and unplanned circumstances. Small business insurance can protect your company from some of the more common losses experienced by business owners, such as property damage, business interruption, theft, liability, and employee injury.

Purchasing the appropriate commercial insurance coverage can make the difference between going out of business after a loss or recovering with minimal business interruption and financial impairment to your company's operations.

Small Business Information

Insurance is so important to proper business function that both federal governments and state governments require companies to carry certain types. Thus, being properly insured also helps you protect your company by protecting it from government fines and penalties.

Small Business Insurance Information

In the business world, there are many risks faced by company's every day. The best way that business owners can protect themselves from these perils is by carrying the right insurance coverage.

The The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight.

Commercial insurance is particularly important for small business owners, as they stand to lose a lot more. Should a situation arise - a lawsuit, property damage, theft, etc. - small business owners could end up facing serious financial turmoil.

According to the SBA, having the right insurance plan in place can help you avoid major pitfalls. Your business insurance should offer coverage for all of your assets. It should also include liability and casual coverage.

Types Of Small Business Insurance

Choosing the right type of coverage is absolutely vital. You've got plenty of options. Some you'll need. Some you won't. You should know what's available. Once you look over your options you'll need to conduct a thorough risk assessment. As you evaluate each type of insurance, ask yourself:

  • What type of business am I running?
  • What are common risks associated with this industry?
  • Does this type of insurance cover a situation that could feasibly arise during the normal course of doing business?
  • Does my state require me to carry this type of insurance?
  • Does my lender or do any of my investors require me to carry this type of policy?

A licensed insurance agent or broker in your state can help you determine what kinds of coverages are prudent for your business types. If you find one licensed to sell multiple policies from multiple companies (independent agents) that person can often help you get the best insurance rates, too. Following is some information on some of the most common small business insurance policies:

Business Insurance Policy Type What Is Covered?
General Liability InsuranceWhat is covered under commercial general liability insurance? It steps in to pay claims when you lose a lawsuit with an injured customer, employee, or vendor. The injury could be physical, or it could be a financial loss based on advertising practices.
Workers Compensation InsuranceWhat is covered under workers compensation insurance? This type of insurance protects a business and its owner(s) from claims by employees who suffer a work-related injury, illness or disease. Workers comp typically provides the injured employee with benefits to cover medical expenses, a portion of his/her lost wages, rehabilitation costs if applicable, and permanent partial or permanent total disability.
Product Liability InsuranceWhat is covered under product liability insurance? I pays an injured party's settlement or lawsuit claim arising from a defective product. These are usually caused by design defects, manufacturing defects, or a failure to provide adequate warning or instructions as to how to safely use the product.
Commercial Property InsuranceWhat is covered under business property insurance? General liability policies don't cover damages to your business property. That's what commercial property insurance is for. It protects all of the physical parts of your business: your building, your inventory, and your equipment, giving you the funds you need to replace them in the event of a disaster. If you work from home, you might consider a Home Based Business Insurance policy instead.
Business Owners Policy (BOP)What is covered under a business owners policy (BOP)? This is a policy designed for small, low-risk businesses. It simplifies the basic insurance purchase process by combining general liability policies with business income and commercial property insurance.
Commercial Auto InsuranceWhat is covered under business auto insurance? This type of insurance covers automobiles being used for business purposes. This could include a fleet of business-only vehicles or a single company car. In some cases it might cover your car or your employee's car while they're being used for business. These policies have much higher limits, ensuring you can cover your costs if one of these vehicles gets into an accident.
Commercial Umbrella PoliciesWhat is covered under commercial umbrella insurance? This type of policy is a sort of "gap" insurance. It covers your liability in the event that a court verdict or settlement exceeds your general liability policy limits.
Liquor Liability InsuranceWhat is covered under liquor liability insurance? It covers bodily injury or property damage caused by an intoxicated person who was served liquor by the policy holder.
Professional Liability (Errors & Omissions)What is covered under professional liability insurance? This type of business insurance is also known as malpractice oe E&O. It covers the damages that can arise from major mistakes, especially in high-stakes professions where mistakes can be devastating.
Surety BondWhat is covered under surety bonds? Bonding is a contract where one party, the SURETY (who assures the obligee that the principal can perform the task), guarantees the performance of certain obligations of a second party, the PRINCIPAL (the contractor or business who will perform the contractual obligation), to a third party, the OBLIGEE (the project owner who is the recipient of an obligation).


Who Needs General Liability Insurance? - Virtually every business. A single lawsuit or settlement could bankrupt your business five times over. You might also need this policy to win business. Many companies and government agencies won't do business with your company until you can produce proof that you've obtained one of these policies.

Business Insurance Required by Law
Small Business Commercial Insurance

If you have any employees most states will require you to carry worker's compensation and unemployment insurance. Some states require you to insure yourself even if you are the only employee working in the business.

Your insurance agent can help you check applicable state laws so you can bring your business into compliance.

Other Types Of Small Business Insurance

There are dozens of other, more specialized forms of small business insurance capable of covering specific problems and risks. These forms of insurance include:

  • Business Interruption Insurance
  • Commercial Flood Insurance
  • Contractor's Insurance
  • Cyber Liability
  • Data Breach
  • Directors and Officers
  • Employment Practices Liability
  • Environmental or Pollution Liability
  • Management Liability
  • Sexual Misconduct Liability

Whether you need any or all of these policies will depend on the results of your risk assessment. For example, you probably don't need an environmental or pollution policy if you're running an IT company out of a leased office, but you would need data breach and cyber liability policies to fully protect your business.

Also learn about small business insurance requirements for general liability, business property, commercial auto & workers compensation including small business commercial insurance costs. Call us (855) 767-7828.

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