The world these days is steeped in stress. If essential oils and meditation don’t work, perhaps it’s time for a Wrecking Room?
These rooms are popping up all over the country and go by many names including wrecking room, rage room, and demolition room. The premise is simple: grab a tool and take out your stress, rage, anger and/or frustration on everything from old cars to computers.
These rooms have been somewhat difficult to insure, since the concept is new (and a little strange). However, Hayes Brokers now has a national program aimed at insuring these businesses.
Even if your wrecking room is located in an office building, a standard office policy isn’t going to work for you. Here are some things to know about wrecking room insurance:
Premises Liability Insurance
Waivers are no guarantee that you won’t be sued in the event of an accident on your premises, but you should require waivers from all participants using your tools and equipment. General liability insurance for your premises is the most important coverage you should purchase for your business.
General Liability insurance protects against slip-and-fall injuries on premises, as well as advertising injuries, products and completed operations claims and more. Be sure that your broker is properly insuring your business. If you are purchasing an office package policy for this type of business, you may find yourself without liability coverage in the event of a claim. Most general liability policies may have a classification limitation that excludes coverage for any activities that are not specified in the policy.
While much of the property your business owns may end up being destroyed by patrons, there are items that you would like to continue using for a while. Copiers, desks, phone systems, wall art and other furnishings and equipment should be insured under property insurance. If you own the building, that would fall under property insurance coverage, too.
Tenants of rented or leased spaces should consider insuring the tenant’s improvements and betterments, those build-outs that make the space conducive to your business. This would include extra insulation and soundproof walls, special shelving and protective devices used in the rooms.
Protective gear and tools should be insured under property against theft, fire, and other property hazards.
Many states require workers compensation insurance even if your business only has one employee, or only has part-time employees. It is recommended that you familiarize yourself with the workers’ compensation laws in your state.
Other Coverage To Consider
The above is not a comprehensive list of all coverage your wrecking room business may need. Hayes Brokers recommends coverage for the following:
- Flood insurance
- Cyber liability insurance
- Crime coverage
- Hired & non-owned auto coverage or coverage for owned vehicles
The best way to begin to protect your business is to contact Hayes for a free, no-obligation risk management analysis. Wrecking room businesses may require special considerations, so contact our office to set up your appointment today.