Bounce House Insurance Coverage and CostDavid Hansen
If you are just about starting a bounce house party rental business, one of the most important things you need to do is to get your business insured.
Why Inflatable Bounce House Rentals Need Insurances
Bounce house users getting injured due to accidents or malfunctioned inflatable equipment is not uncommon. According to this study, there are more than 64000 children under age 17 have injuries related with bounce houses during 1990-2010. If you don’t have an insurance for your business, you will be sued out of business by one lawsuit which would cost you millions of dollars.
Also, parents and property owners who plan renting inflatables would more likely choose a company which has insurances covered than one doesn’t. You gonna lose potential income due to lack of insurances.
Another reason for having insurances is they allow you to extend your business services. Other than rentals, you can also hold events in parks, entertainment centers and other event venues.
Bounce House Business Insurance Coverage
What insurances do you need?
Commercial General Liability Insurance
CGL insurance policy is a comprehensive insurance which provides coverage for bodily injury and property damage caused by your business. Commercial general liability may be not required by law in most states, but it is the one policy you should definitely purchase.
Product Liability Insurance
Product liability covers your business from being claimed by injuries and harms because of your inflatable equipment or other stuff you sell.
Most bounce house rental companies operate their business in a leased location or their own home, the risks of their property being damaged because of fire, storm and theft should be concerned.
If your inflatable party rental business hire employees to deliver rented equipment by cars of your business, you need to buy vehicle insurance in case of road traffic accidents happened.
One Day Event and Special Event Insurance
One day event insurance or single day event insurance is for short-term events you host, such like a promotion in park or a 5k run. Special events are events like weddings, birthday parties or concerts. Must acquire insurance protection before event starts.
Almost all inflatable devices can be insured by insurance companies under general liability, such as bounce houses, inflatable water slides and inflatable climbing walls, however, mechanical bull is an exception. If you operate mechanical bulls, especially in a bar, you’ll need to find mechanical bull insurance companies.
How Much Does it Cost?
A premium for a bounce house business utterly depends on many factors. For example, insurance underwriters will need you to provide loss run (history of claims), years of operation, number of employments and inflatable equipment, etc. Generally, a basic commercial business general liability for bounce house rental business may start from $1800 a year. Along with the growth of your business, the cost will rise up.
As for one day event price, the minimum may as low as to $100, it also depends on many factors like attendees, size of event, liquor liability, etc.
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