Tennessee Skatepark Insurance Policy Information
Tennessee 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 Tennessee skatepark insurance are needed.
Tennessee 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 TN 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.
TN 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 Tennessee skatepark insurance is, therefore, the same as investing in the future of your business.
What Type Of Insurance Do Tennessee 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 Tennessee 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 Tennessee 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 TN 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 Tennessee skatepark insurance options are best for your company, talk to a commercial insurance agent.
TN 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.
Tennessee Skatepark Insurance - The Bottom Line
To find out more about the specific types of Tennessee skatepark insurance policies you'll need and how much coverage you should carry, consult with a reputable broker that is experienced in commercial insurance.
Tennessee Economic Data & Commercial Insurance Information
If you're a entrepreneur, you need more than just a great products and services and a well-established business model to be a success; you also need to choose the right location for your organization. No matter how awesome your ideas are, if your business isn't located in a place where what you offer will provide value to consumers, you're going to struggle to succeed.
Whether you're thinking about setting up the headquarters of your organization or you're planning on opening a branch of your company in Tennessee, familiarizing yourself with the economic trends and the requirements for commercial insurance in the state is crucial for your success. Below, we offer insights regarding job growth and insurance coverage requirements in The Volunteer State.
Economic Trends For Small Business In Tennessee
In regard to job growth, the state of Tennessee is exceeds the rate of national job growth. As of February 2021, unemployment rates were at a historic low in The Volunteer State, with a rate of 3.2% throughout the state; 0.1% lower than the last historic low of 3.3% in October of 2018. That's lower than the national unemployment rate, which was reported to be 3.8% in February of 2019. Economists are forecasting continued job growth throughout the state into 2021.
In addition to positive job growth, the state of Tennessee offers other favorable conditions for entrepreneurs. No personal income tax and more training and education opportunities for the workforce are just some of the factors that make The Volunteer State a great place for business owners of both established companies and startups. While the entire state offers favorable conditions for businesses, the eastern and middle areas are considered the best to start a business; this includes big cities like Nashville and Knoxville; however, cities throughout the state are also offering great opportunities for business operations, such as Chattanooga, Memphis, Pigeon Forge, Alcoa, Lebanon, and Crossville.
Industries that are thriving in Tennessee include:
- Information technology
- Technology, as a whole
Business Insurance Regulations & Limits In TN
The Tennessee Department of Commerce & Insurance regulates insurance in Tennessee. Just like any other state in the country, there are regulations in place regarding commercial insurance. Business owners are required to carry certain types of coverage to protect themselves, their clients, and their employees.
Small businesses with 5 or more employees are required by TN state law to have workers comp insurance coverage. That drops to 1 or more employees if they operate in the construction business or trades (construction service providers).
If you use certain types of motor vehicles for business-related purposes, you'll also need to invest in commercial auto insurance coverage to protect your drivers, as well as other drivers on the road.
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 Tennessee Skatepark insurance quote in Alcoa, Arlington, Athens, Atoka, Bartlett, Bloomingdale, Brentwood, Bristol, Brownsville, Chattanooga, Church Hill, Clarksville, Cleveland, Clinton, Collegedale, Collierville, Columbia, Cookeville, Covington, Crossville, Dayton, Dickson, Dyersburg, East Ridge, Elizabethton, Erwin, Fairfield Glade, Fairview, Farragut, Fayetteville, Franklin, Gallatin, Germantown, Goodlettsville, Green Hill, Greenbrier, Greeneville, Harriman, Harrison, Hartsville, Henderson, Hendersonville, Humboldt, Jackson, Jefferson City, Johnson City, Kingsport, Kingston, Knoxville, La Follette, La Vergne, Lakeland, Lawrenceburg, Lebanon, Lenoir City, Lewisburg, Lexington, Loudon, Lynchburg, Manchester, Martin, Maryville, McKenzie, McMinnville, Memphis, Middle Valley, Milan, Millersville, Millington, Morristown, Mount Juliet, Munford, Murfreesboro, Nashville, Newport, Nolensville, Oak Ridge, Oakland, Paris, Pigeon Forge, Portland, Pulaski, Red Bank, Ripley, Savannah, Sevierville, Seymour, Shelbyville, Signal Mountain, Smyrna, Soddy-Daisy, South Cleveland, Spring Hill, Springfield, Sweetwater, Tellico Village, Tullahoma, Union City, White House, Winchester and all other TN cities & Tennessee counties near me in The Volunteer State.
Also find Tennessee insurance agents & brokers and learn about Tennessee small business insurance requirements for general liability, business property, commercial auto & workers compensation including TN business insurance costs. Call us (901) 255-6544.