THURSDAY, JUNE 24, 2021
Jumping high, doing flips and getting hang time can be fun, but what happens when a customer falls and sprains an ankle in your trampoline park?
Business insurance is designed to protect a business owners’ financial assets and, for trampoline parks, is an essential investment. One of the most important to have is liability insurance, and this benefit can help you in instances of injuries on your premises. However, there are numerous other benefits to carry as well. Let’s take a closer look at the finer points of each of these policies.
Why do Trampoline Injuries Occur?
The most common trampoline injuries on both home trampolines and in trampoline parks were sprains and fractures. But what causes injuries and deaths at trampoline parks in the first place?
The following are just a few of the ways injury and death may occur, and it’s up to you to do all you can to prevent these accidents:
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Colliding with another person on the trampoline.
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Landing improperly while jumping or doing stunts on the trampoline.
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Falling or jumping off the trampoline.
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Falling on the trampoline springs or frame.
When this happens to one of your participants, you need to be ready to respond. Having appropriate liability insurance will enable you to do so.
Understanding General Liability Insurance
All businesses, regardless of industry, face risks that should be covered by general liability insurance. It covers you in cases of third-party injuries or property damage that occur on your watch.
The following are risks that are commonly covered:
The average cost of liability insurance for trampoline parks is between $300-$800 per year for $1 million of coverage.
Other Coverage You Might Need
Don’t think that you are off the hook once you obtain general liability insurance for your trampoline park. Other benefits that you might need include:
Workers’ Compensation
With this coverage, your employees can have covered medical costs and lost wages in the event they are injured or become ill while working.
Commercial Property
If you own the building your trampoline park is in, commercial insurance is a must. This will protect the building and cover any business-related items that are stored in the building in the event of an accident, natural disaster, theft or vandalism.
Commercial Umbrella Liability
Your business has a responsibility to prevent do everything you can to prevent injuries. This insurance is designed to protect your business and surpass the limits of your primary policies.
Data Breach
If you are storing personal information such as addresses, phones numbers and credit cards in your computer system this insurance will be the step to protect your business and cover damages in the event your system is compromised or information is stolen.
Insurance is the essential step in compensating for your business’ financial losses in the event of an incident. Don’t hesitate to get the right combination of coverage today.
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It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional
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