Indoor playground insurance cost varies based on a variety of factors, including the size of the facility, type of equipment, activities, location, number of employees, and required insurance coverage. Generally speaking, indoor playground insurance cost may include:
Comprehensive Liability Insurance: This type of insurance protects against bodily injury or property damage claims that occur within a facility. Costs may vary based on selected insurance coverage and deductibles.
Property insurance: Property insurance is very important in indoor playground insurance, covering losses to buildings, equipment and facilities caused by fire, theft, vandalism, etc. It can effectively avoid equipment being damaged and causing heavy losses.
Workers’ Compensation Insurance: If the indoor playground has employees, workers’ compensation insurance is usually required to cover the medical expenses and lost wages incurred by employees due to work-related injuries. In indoor playground insurance, this type of insurance can be said to be the most important, because if a person is injured and there is no insurance company to pay compensation, it will cause great pressure on the indoor playground operator.
Business Interruption Insurance: This insurance provides compensation for lost revenue and additional expenses for a playground that is forced to temporarily close due to a covered event.
Professional Liability Insurance: Also known as errors and omissions insurance, this type of coverage applies to professional negligence or mistakes that occur in the performance of professional services.
Umbrella Liability Insurance: Umbrella insurance provides additional liability coverage beyond the limits of other insurance policies, providing additional protection in the event of a large lawsuit.
Indoor playground varies by location and specific circumstances, and can typically range from a few thousand dollars to tens of thousands of dollars per year. It is recommended to work with an insurance agent or broker who specializes in commercial insurance to obtain an accurate quote and ensure that the indoor playground is fully covered.
