Tips for Inflatable Business OwnersByThe Cossio Insurance Agency
Inflatable Rental or Indoor center business owner’s sometimes underestimate the need for insurance or simply do not know that they are not properly covered. First off, let us stress how important it is to have coverage for your inflatable business. Do you think that accidents are very rare in bounce houses? Think again, according to the Pediatrics Journal an average of 31 children per day are hospitalized because of injuries that were caused by a jumper. That adds up to around 11,000 kids per year; this estimate is not including the number of adults that are injured due to rough housing on devices. If someone is injured on one of your inflatables, the medical bills and defense costs if you are sued can add up quite quickly. Still think you don’t need insurance?
Let’s say you do have inflatable insurance…you may not have all the coverage that you need in order to properly covered in case of an incident. In order to be properly covered there are several types of insurance that an inflatable business owner needs. These coverage’s apply to most businesses whether they are inflatable or not. Here are some of the most important coverages:
1) General Liability insurance: This coverage will provide defense coverage in case you are sued for your negligence or your employee’s negligence.
2) Inland Marine: Protects your property in case of fire, theft or vandalism.
3) Worker’s Compensation is a requirement in most states if you have employees & will cover things such as medical bills, loss of income & bodily injury for employees.
4) Commercial Auto: If you use your vehicle for business purposes it will not be covered under your personal auto insurance policy, trailers need to be added on separately to have coverage as well.
5) Abuse & Molestation: Abuse & Molestation could be a very serious charge for your business and cost a lot of money in defense costs. This type of insurance can help your protect your business and good name if the unthinkable happens.
If you are interested in learning more about how to keep your inflatable business safe the CIA has a series of videos that outline ways to protect your business and also explain the different kinds of insurance in detail. You can watch the videos at http://www.weinsureinflatables.com/inflatable-resources.html
If you are ready to buy insurance you can visit http://www.cossioinsurance.com or call 864-688-0121.