Commercial property insurance is an essential type of business insurance for indoor trampoline parks. Business owners face perils specific to their industry, and having appropriate insurance coverage can help protect the organization’s financial future.
Contact the agents at Wateridge Insurance Services serving San Diego, CA. They can walk you through the various policy options to tailor an insurance package that meets the needs of your indoor trampoline park.
What Is Commercial Property Insurance?
Commercial property insurance insures against potential financial losses after an accident or incident beyond the control of an indoor trampoline park’s owners and employees.
A basic building and personal property policy may include three types of insurance:
- Property insurance provides coverage for the structures on your property, including outdoor and indoor fixtures, machinery and installed equipment. This policy may help pay to repair or rebuild after a covered event such as a storm or fire.
- Business personal property insurance coverage helps replace or repair business-owned items such as stock, fixtures, furniture and any upgrades to your rented space.
- Personal property of others coverage helps pay to replace someone else’s property that is in the custody and care of your business.
Depending on details about your indoor trampoline park operation, your agent may recommend that you add specific coverage, including:
- Equipment breakdown insurance.
- Business income and extra expense insurance.
- Ordinance and law coverage.
An umbrella insurance policy can help cover your organization’s liability for accidents and incidents if damages exceed the limits of your other liability policies. This policy is typically inexpensive, considering the amount of financial protection provided.
How Much Does Commercial Property Insurance Cost?
Your insurer uses several metrics to help determine your commercial property insurance premiums including:
- The insurance policy’s coverage limits and deductibles.
- Your claims history.
- Your company’s location.
- Your company’s size.
- The value and condition of your property.
Get the Business Insurance You Need for Your Indoor Trampoline Park
Contact the business insurance experts at Wateridge Insurance Services to learn more about how to insure your trampoline park business.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.