Whenever you budget the expenses of your business, summer camps insurance must be included in the list because you can’t always know exactly what can happen in the future.
Need General Liability Insurance for Your Summer Camps
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With the protection provided by general insurance and all the other kinds of insurance we will tell you about, you can protect your business and yourself in case something unwanted happens.
Like any business owner, for your summer camps enterprise, you must consider how much financial liability you are taking on.
If your summer camps business runs without proper insurance, you are taking a tremendous chance not just of losing some money but of a final wipe-out.
This is because the laws in every state are very strict in enforcing liability on the owners of businesses for the consequences of their actions.
In this article, we are giving very general guidelines for growing businesses to explain what the main kinds of insurance that you need are, and where available, a rough guide to how much you can expect to pay.
The question is, can you afford to NOT have insurance for your summer camps business?
What this means, for any summer camps business owner, is that if some customer claims that your work caused them some physical or economic damage, a court can award damages far beyond the total size of your business.
Your summer camps business is not harbored by laws in the same way as states are, where legislation can place a “cap” on the maximum level of liability.
In some states, like New Jersey, there are specific monetary levels that limit the amount a court can award in any case against the state.
In a court case, it’s purely the privilege of the jury to award whatever amount they deem appropriate, even sometimes giving a person more than they have sort.
When you are running your summer camps operations, you can’t escape responsibility for the outcomes of your actions.
Even more importantly, unless you have spent up-front the money necessary to have your business running as a corporation, all of that liability belongs to you alone.
What does summer camps insurance protect you from?
For your summer camps business, the most important kinds of insurance are designed to cover the risks to your business from accidents, from unexpected events, and from mistakes.
As well there are some official kinds of insurance that various states require.
In the next few paragraphs, we will describe the most important points any summer camps business owner should know when negotiating the insurance needed.
The main headings of insurance for your summer camps businesses are liability insurance, commercial insurance, asset insurance and workers compensation insurance.
General liability insurance
Any summer camps business is dealing directly with members of the public, and that means you usually have the danger that some accident can happen to them bodily or else something of theirs can be damaged.
In such a case, they can require compensation.
General liability insurance policy for your summer camps business protects you against claims coming from injury to customers or damage to their property.
It protects your summer camps business from the claims themselves and also to any associated court costs and legal fees of the lawsuits.
In many cases, it can also help you to qualify for extra business from city and state organizations, where contracts require proper liability insurance.
The normal level of general liability insurance for your summer camps business would be with a boundary of $1 million for a single event and a total of $2 million for the whole year.
See the table in the costing section below for average prices of general liability insurance for your summer camps insurance operations.
Professional liability insurance for your summer camps business
In the event where a customer alleges some negligence, errors, or omissions in how you conducted your summer camps business for them, you can quickly face a court case.
Even if the case against you is judged in your favor, the cost of defense can be high, and the impact on your reputation can be damaging.
Most small summer camps business should have enough professional liability insurance to cover an individual claim of $25,000, with annual cover of $50,000.
See the table in the cost of summer camps insurance section below for average prices of professional liability insurance for your summer camps operations.
Product liability insurance
Whatever goods you sell or advice you give about the goods, you are running a risk that customers may claim that the results didn’t meet your description of function, or that your guidance was basically incorrect.
You need to understand the particular laws of product liability in your own state.
For example, in California, all businesses in the supply chain can be held culpable for results caused by products claimed to be defective.
To cover yourself against any likely lawsuit, you need Product liability insurance for summer camps
Only you can know exactly how much insurance you should get.
Best advice is to talk to experienced insurance agents, brokers or company representatives for guidance.
Commercial vehicle insurance for your summer camps business
Take care! – most policies for private vehicle insurance do not cover any event like theft or accidental damage when the vehicle is being used for business purposes.
The right way to make sure that your vehicle is insured for both its own value, and the valuable contents, is by taking out a designated commercial vehicle insurance package.
Commercial truck policies cover the value of any vehicle in case of accident, malicious damage, fire, or theft.
As well, in case of any accident, the truck itself, the content and any legal bills, medical expenses, and property damage is guaranteed if your truck is involved in a crash.
Most states, other than Virginia and New Hampshire, require this type of insurance.
The wanted value of the insurance is worked-out for the depreciated value of the vehicle, and your declared level of cover of contents.
Tools and Equipment insurance
Since your summer camps business needs unique and dedicated equipment, you know how much it can cost to replace it in case of any damage, loss, or theft.
The gear may be subject to malicious damage, deliberate fire, theft, other such unexpected acts.
As well, acts of nature like lightning strikes, hurricanes, earthquakes, and other highly damaging natural events can eliminate your whole business in one stroke.
Unless you can afford to immediately replace such specific gear quickly out of your own pocket, you need full-level equipment insurance so that you can immediately buy whatever needed to keep your summer camps business running.
It is difficult to advise how much equipment insurance you need – it’s essentially dependent on how much you have invested in your summer camps business’ equipment.
Commercial Property insurance
Any summer camps business that owns or rents space in a building must have a commercial property insurance policy.
If you own the property, you certainly have a substantial capital investment, along with a big liability if there’s a mortgage.
Any physical building location needs to carry insurance coverage for the value of the premises and contents against unexpected occurrences like fire and storms, and against man-made damages like theft and vandalism.
If your summer camps business works in areas of high risk, like Florida or North Carolina, extra coverage may be needed for earthquakes and hurricanes or tornadoes.
In other states like Washington, where intense cold snaps can cause damage to outer coverings of summer camps business premises, there is a need for more extra cover than in warmer climes.
Although the level of cover depends completely on the value of the property, it’s not possible to say what cover your need, but we have been able in the table in the cost of summer camps insurance section below to give some idea of the average prices per million dollars of property insurance for your summer camps business.
Temporary insurance by month, week or day for your summer camps business
Is your summer camps business working part-time or casually, or is the level of business fluctuating?
Using short-term insurance makes good sense. Business insurance by the month, day, or week – temporary insurance for summer camps – are special policies where you can cover a specific period when you want to be covered.
By only paying for that period of cover, you will save by having less premiums but still having identical risk cover.
The important feature of short-term insurance is that you purchase the cover for a defined period – a designated date, or a week or month starting on a specific date, for example for 30 days beginning on the specified date.
When you are expecting periods of better business activity, get the existing cover raised.
Talk to your insurance agent, broker or the company’s representatives to see what options you have.
Business Owners Policy BOP for your summer camps business
You have the chance to combine most of the important kinds of small business insurance in one policy that is known as the business owner’s policy – BOP.
A BOP integrates commercial property and public liability insurance by incorporating these coverages into one insurance policy, which can save you money.
BOP insurance will shield you if any claims of injury or property damage are made.
It is mostly the right choice for small and medium-sized summer camps businesses, such as yours.
There are some limits that will rule whether BOP is suitable for your own business.
BOPs cannot cover your professional liability or commercial vehicle policies.
Also, the size of your business will dictate whether you are allowed to take out BOP cover.
The typical business that is allowed to take a BOP policy must have no more than one hundred employees, and not more than five million dollars in annual turnover.
As well, you must separately take out the required worker’s compensation, health and disability insurance as determined for your state.
Workers Compensation insurance for your summer camps business employees
In almost all states, it is mandatory to have workers compensation insurance when your summer camps business has one or more employees.
Workers compensation insurance covers the operation against any costs that arise if a worker experiences an injury or becomes sick as a result of work.
The benefits provide for medical expenses, death benefits, lost wages, and vocational rehabilitation.
Failure to meet a state’s regulations in this regard can leave you as the employer required to pay penalties levied by the states.
Some states, such as North Dakota, Ohio, Washington, West Virginia, and Wyoming only allow coverage from the government-run monopoly state funds.
In these states, you may not get your workers compensation obligations from private insurance companies.
Workers compensation rates are calculated based on the employee’s pay, and usually come out at around $1.00 per $100 per month.
However, you must see the relevant authorities in your state.
Average costs of these types of insurance
Although every summer camps insurance requirement is unique, there are enough examples of usual quotes from insurance companies for us to give rough guidelines, including what are the cheapest rates offered.
Of course, you should always check with an agent what’s relevant for your business.
The list below is of annual premiums we have researched for the main types of insurance your summer camps businesses needs.
|Types of insurance||Price range|
|Public liability insurance||$360 – $550|
|Commercial vehicle insurance||$1660 – $2680|
|Commercial insurance||$1155 – $2210|
|Equipment insurance||$385 – $1380|
|General liability insurance||$710 – $1230|
|Product liability insurance||$240 – $675|
Cost of insurance for your summer camps operations depends on many different factors.
We have reckoned these figures for small independent summer camps businesses.
In larger states like New York, premiums are generally about 20%-30% higher than national averages, whereas in smaller states like Oregon, they will be about 20%-30% less.
The location and size and type of your summer camps business can have a big effect on the cost of different policies.
You should talk to professional insurance agents and brokers, or insurance company representatives.
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As well you can let the internet do the work for you by looking for insurance companies near where your business is located.
Another reliable source of information is the local Better Business Bureau in your city.
What is small business insurance for summer camps operations?
This is a general term used to describe common insurance policies designed to protect summer camps business owners from risks like bodily injury, property damage, claims of negligence.
Does my summer camps business have to have insurance?
Some of the forms of insurance are not mandatory for you to operate your business, but they can protect you from risks in your business operations.
Certain other forms are required by state law, such as workers compensation and vehicle insurance.
What does a small summer camps business insurance policy cover?
Liability insurance provides coverage against lawsuits or claims filed by a client for bodily injury, property damage, or negligence.
The specific cover will vary based on your own operations.
See the table in the costing section above for average prices of the recommended policies for summer camps insurance.
How much will summer camps business insurance cost?
As well as the size of the business, some other factors, such as location and claims history, are used to determine your policy’s cost.
You should discuss with professional insurance agents and brokers, or insurance company representatives.
You can search for more information insurance for summer camps, in the search box below, and follow the relevant links.