Tips on correctly insuring a Fun Center

Correctly insuring your family fun center is one of the most important issues you should address to protect yourself.  We will review a few simple issues to address.

Is your miniature golf and go-kart facility safe, enjoyable and accident-free for your guests?

Usually the two most popular activities at a family fun center are miniature golf and go-karts.  And amazingly enough, the most insurance claims are these two activities.  So how can you work to keep your facility safe, keep the experience for your guests enjoyable and accident free?

Glad you asked!  Having owned a family fun center with both of these activities I can speak from experience as an owner and an insurance agent.  Good news travels slow, bad news about injuries travels fast, so let’s look at what you can do as an owner or manager to prevent these from happening. Continue reading “Is your miniature golf and go-kart facility safe, enjoyable and accident-free for your guests?”

Family Entertainment Centers: Competing Against Technology

Girl Using Smart PhoneLet’s face it; today’s generation of children is becoming more and more dependent on technology such as iPads, smartphones & computers. How can Family Entertainment Centers compete with this? It’s hard enough for parent’s to get kids off of the couch & out of the digital world; let alone into your FEC center. In fact, in a study by Common Sense Media they found that 38% of kids under the age of 2 use tablets or smartphones and children up to the age of 8 are using tablets 5 times more than they were two years ago.

In an article by IAAPA’s “Fun World Magazine” they discuss some good ways that an FEC can remain relevant in this turbulent time of technology. Here are some of the things that they suggested (and also a few suggestions of our own):

  • Create experiences at your FEC center that can’t be replicated at home. For example don’t just fill your Family Entertainment Center with Arcade video games…they can play those at home. Add basketball shoots, table hockey, laser tag anything to keep them challenged and having fun.
  • Host competitions/tournaments to get them competing with their peers in the real world instead of just on the video game screen.
  • Make sure your FEC is active on social media. Site’s such as Facebook, Twitter & Instagram to name a few are very popular with today’s youth and even older individuals as well.
  • Having a website is a must. Your website should showcase all of the unique experiences your Family Entertainment Center has to offer. If it doesn’t look worth their time on the website they are less likely to take time out of their busy schedules to come and visit your center.
  • Make “Family Days” with special promotions encouraging the entire family to come out to your FEC and spend some quality time together.

 

Resources:

Funworld Magazine. “The Singapore FEC Market”. http://www.iaapa.org/news/funworld/funworld-magazine/the-singapore-fec-market

The Cut. “Study: 40 percent of kids use iPads before they can speak”. http://nymag.com/thecut/2013/10/40-percent-kids-use-ipads-before-speaking.html

Family Entertainment Center Insurance

Family Entertainment Centers encompass a variety of different activities which means that a variety of coverage’s will be needed to insure that your FEC is properly covered. The same thing applies to many other types of businesses in the amusement industry such as inflatable rentals, paintball, sports etc.

1) The first type of insurance is a given for any type of business: General Liability Coverage. This type of coverage is usually a requirement for parks. General Liability coverage will protect your family entertainment center in case of bodily injury or property damage. The limits for these are usually $1,000,000 per occurrence / $2,000,000 aggregate but there are higher limits available.
2) Sexual Abuse/Molestation– Family Entertainment Centers deal with children on a constant basis. If the unspeakable happens the cost of defending your business and good name can be devastating.
3) Commercial Auto & Non-Owned Auto– If you fun center uses an automobile for business purposes you will most likely not be covered under your personal auto insurance.
4) Property Coverage or Inland Marine– Property Coverage offer protection to your property from fire, theft or vandals. Inland Marine Coverage protects your property when it is not on your premises.
5) Workers Compensation– Workers Comp is another coverage that is usually mandatory for fun parks. In fact in is mandatory for most businesses depending on what state you are located in.

Some Additional Coverage’s
Aside from these major coverage’s there are some other coverage’s that you may want to consider such as: Employee dishonesty, Sexual Abuse,/ Molestation, Assault /battery, Money inside/outside.

To learn more about our Family Entertainment Center Insurance visit us at: http://www.cossioinsurance.com/insurance/family-entertainment-center.html

What Type of Insurance Does My Business Need?

 

What type of insurance does my business need?

Party Rentals
General liability
Umbrella
Non owned auto
Property
Inland Marine
Commercial auto
Workers Compensation
Assault /battery

Indoor Bounce Centers
General liability
Umbrella
Non owned auto
Property
Inland Marine if property leaves premises
Commercial auto
Workers compensation

Additional coverage’s
Employee dishonesty
Sexual Abuse,/ Molestation
Assault /battery
Money inside/outside Continue reading “What Type of Insurance Does My Business Need?”

Safety and Security questions you might not want to hear!

What does safety mean to a family fun center?  Oh­, boy you should not have asked me this question. This could be a two day seminar, not an article. This article is not for the weak, or timid.  The questions below should be read only after taking some Pepto Bismol or something equivalent.  I am not just an insurance broker, I owned a family fun center with paintball, go karts, inflatable’s, soft play, bumper boats, batting cages, arcade, food, birthday party rooms, and a parking lot.  I understand the exposures that you will face in maintenance and repair of all of these exposures and will share with you some of the questions you need to be asking yourself and your staff in the daily operations of your facility.  Put your helmet and seatbelt on, this will be a bouncy ride! Continue reading “Safety and Security questions you might not want to hear!”

Are all insurance agents the same?

Your business insurance is sometimes handled by your local insurance agent who does your personal auto or home insurance.  Usually because you already do business with that person and you feel comfortable with that person.  This is usually not a challenge until you have a claim and find out that part or all of the loss is not covered.

Unfortunately many business owners do not understand that they probably need an insurance broker that specializes in that field to understand all the exposures that the business owner might face.  The difference from an agent and a broker is that an agent represents the company; a broker represents the business owner. Continue reading “Are all insurance agents the same?”