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Insurance for Ax-Throwing Businesses

Insurance for Ax-Throwing Businesses

First, it was rage rooms, and now ax-throwing is the next big thing in relaxation techniques. As these businesses continue to pop up across the country, you may be wondering: where can I get insurance for that? We have the answer: Hayes Brokers.

What kind of insurance do you need for an ax-throwing business? It may be similar to more mainstream businesses, but with a twist.

Liability Insurance

Every business needs liability insurance. This insurance covers everything from slips and falls to property damage caused by your business on your business premises. It covers you for any unintended negligence on the part of your business (such as a fall due to a wet spill) and will even protect you in the event you are sued for something that wasn’t your fault.

Additional insured coverage can be added for your landlord, which will be required for any business that leases space from another company. Your landlord or property management company will require this when you sign the lease.

Property Insurance

While ax-throwing businesses will take every precaution to protect the building and adjacent property from damage, property insurance is still an important part of your insurance portfolio. Property owned by the business, including copiers, wall art, computers, and phone systems should be insured under a property insurance policy. Under a commercial property policy, there would be coverage for fire, theft and other property hazards not necessarily associated with ax-throwing.

If you are a tenant, you should also consider tenants improvements and betterments coverage. This covers your business for any special build-outs that may be required for your business to function at an optimal level. Soundproofing, special shelving and any protective devices used in ax-throwing rooms should be included in the limit for this coverage.

Liquor Liability Insurance

Some ax-throwing businesses may choose to serve alcohol. If your business plans to serve beer and/or liquor, a liquor liability insurance policy will cover your business for legal costs associated with liability and/or property damage caused by an intoxicated person who was served at your place of business.

Workers Compensation

Most states require businesses with more than one employee to have workers compensation insurance (even if that employee is part-time). Please check the workers’ compensation laws in your state for more information on when this coverage may be required.

Anything Else?

The insurance listed above is the bare minimum of coverage you may need to open your ax-throwing business. Other coverage to consider includes flood insurance, cyber liability, automobile liability, crime coverage and more.

Contact Hayes Brokers today for a free, no-obligation risk management analysis. We can help you get the coverage you need for your business.

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