Don’t Get Pinned Down by Bowling Alley Insurance Costs
You opened a bowling alley to make some money and bring fun and levity to your local community. But business insurance for bowling alleys can confuse even the most time-tested entrepreneurs. This essay strives to address the most pressing bowling alley insurance concerns and provide a crucial resource for you to lower costs and ensure that your policies work for you.
Business Insurance for Bowling Alleys 101
Every bowling alley is different. If your alley serves beer or liquor, you will need liquor liability protection. If you serve food, you will need to get a whole basket of coverages, such as protection against food spoilage and contamination, and insurance for your refrigerators, ovens, dining facilities and equipment. Even bowling alley operators who only own a vending machine and gumball machines will nevertheless need lots of coverage. For instance, owners will need property, general liability, and equipment breakdown coverage. You also should get premises liability bowling alley insurance. This will protect you, for instance, if someone slips on a lane and suffers a head injury. Depending on the circumstances, an injured bowler can wind up with hospital bills equaling hundreds of thousands of dollars — and if you lack quality premises liability insurance, that huge sum could get siphoned out of your budget — and potentially out of your personal bank account, if you have not set up your business properly.
You also want bowling alley insurance to protect your equipment and assets — this includes your lane computers, bowling balls, pins, cleaning equipment, video arcade games, and more. If you own your own property, you will need to get your building insured — after all, what if a massive winter snowstorm or hurricane causes a cave in on your roof and shuts down your business? If you lack good property insurance, you will have to pay for the reconstruction out of pocket. You also probably need workers compensation insurance if you have four or more employees.
Simplifying Bowling Alley Insurance
Believe it or not, our above discussion about business insurance for bowling alleys doesn’t even get into a fraction of all the coverages that you could buy. Before you start sweating bullets, let’s make this simpler. Consider pairing things down by opting for a comprehensive bowling alley insurance package. This is a package designed by an insurance company that contains a lot of the major coverages that you need.
Another way to narrow your choices is to work with an agent who knows the bowling alley insurance business. Domain specific industry experience is crucial here — find someone with bowling alley insurance credentials and satisfied clients in your industry. Finally, talk to other owners ideally not direct competitors) about tips, tricks, and battle tactics they’ve used to get costs down and protect themselves against exposure.
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