Nerf Arena Business Insurance
Getting business insurance for your Nerf arena is pivotal.
This is because you will want to protect your business’s assets against a variety of foreseeable risks, including customer injuries and property damage.
If you hire anyone, you may also be legally required to purchase workers’ compensation insurance in order to protect your arena from employment law-related disputes.
We’ll help you find the most personalized and affordable coverage for your unique business.
Recommended: Next Insurance is dedicated to matching small businesses with the right policy at the best price.
Best Insurance for a Nerf Arena
General liability insurance is — generally speaking — one of the most important insurance policies for Nerf arenas.
Some of the risks general liability insurance covers are:
- Bodily injury
- Property damage
- Medical payments
- Legal defense and judgment
- Personal and advertising injury
Even so, your Nerf arena will likely benefit from purchasing additional coverage. This is because a general liability policy will not be able to holistically cover it from all foreseeable risks.
Additional coverage policies you will likely want to consider for your Nerf arena include:
- Commercial property insurance — Will cover the cost of repairing and/or replacing your commercial equipment in the event of accidental damage.
- Workers’ compensation insurance — Will protect you against employment law disputes.
- Business interruption insurance — Will cover part of your lost income in the event that you are required to stop operating temporarily.
You will also need to find the right provider for your small business.
We recommend going with an online insurer (e.g., Tivly, etc.) as a small business owner (rather than a traditional brick-and-mortar alternative).
This is because online insurers use AI instead of a live insurance agent in order to offer personalized coverage, and so have significantly lower overhead.
This means that they are (generally speaking) more affordable.
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Cost of General Liability Insurance
On average, Nerf arenas in America spend between $400 - $1,100 per year for $1 million in general liability coverage.
Compare the average cost of general liability insurance for a Nerf arena to other professional industries using the graph below.
Several factors will determine the price of your policy. These include your:
- Location
- Deductible
- Number of employees
- Per-occurrence limit
- General aggregate limit
You may be able to acquire general liability insurance at a discounted rate by purchasing it as part of a business owner’s policy (BOP) rather than as a standalone policy.
A BOP is a more comprehensive solution that includes multiple forms of coverage, such as business interruption and property insurance.
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Common Situations That General Liability Insurance May Cover for a Nerf Arena
Example 1: You’re leading a group of potential new vendors through the arena when one trips over an extension cord that wasn’t taped down properly. He hits his head and breaks his wrist in the fall and needs immediate medical attention. General liability insurance will likely pay for his medical costs and your legal fees if there is a lawsuit.
Example 2: An employee is bringing in a new load of Nerf guns and other accessories when he loses control of the dolly. The dolly slams into a group of customers, and several sustain serious injuries. Your general liability policy will likely cover their medical bills and any settlement payouts awarded in a lawsuit.
Example 3: After redesigning your logo, you put up new signage in front of your building and in the parking lot. About a month later, you receive a call from your nearest competitor accusing you of stealing their design. General liability insurance will likely pay for your legal fees if they decide to sue and any subsequent payout settlement.
Other Types of Coverage Nerf Arenas Need
While general liability is the most important type of insurance to have, there are several other forms of coverage you should be aware of. Below are some of the most common types of coverage:
Workers’ Compensation Insurance
Operating a Nerf arena exposes your employees to a unique set of risks each day. Workers’ compensation insurance will protect your employees if they sustain an injury while at work. It will help to pay for their medical bills as well as any disability and death benefits. Most states legally require businesses with employees to carry this coverage.
Commercial Property Insurance
It takes a lot of specialized equipment, tools, furniture, computer systems, and inventory to successfully operate a Nerf arena. And if these valuable items are destroyed in a fire or other disaster, you could be forced financially to shut your doors permanently. Commercial property insurance will help to cover the cost of repairing or replacing these important items so that you can get back to business as usual.
Employment Practices Liability Insurance
This important coverage can help to protect your business against claims made by your employees. If an employee alleges that they have been discriminated against or they have been the victim of harassment, your company could be held liable for extensive damages. Depending on the size of your Nerf arena company, employment practices liability insurance or EPLI may be offered as an endorsement to your business owner’s policy (BOP).
Commercial Umbrella Insurance
There may come a time when an accident or lawsuit exhausts your primary policy limits. Without additional protection, you could be left to cover the additional costs out-of-pocket. Commercial umbrella insurance works to go above and beyond your primary insurance limits.
Additional Steps To Protect Your Business
Although it’s easy (and essential) to invest in business insurance, it shouldn’t be your only defense.
Here are several things you can do to better protect your Nerf arena:
- Use legally robust contracts and other business documents. (We offer free templates for some of the most common legal forms.)
- Set up an LLC or corporation to protect your personal assets. (Visit our step-by-step guides to learn how to form an LLC or corporation in your state.)
- Stay up to date with business licensing.
- Maintain your corporate veil.
Nerf Arena Business Insurance FAQ
Yes, absolutely. You will need to first get a quote from an online business insurance provider like Next Insurance. Next allows you to then purchase a policy immediately and your coverage will be active within 48 hours.
A typical business owner’s policy includes general liability, business interruption, and commercial property insurance. However, BOPs are often customizable, so your agent may recommend adding professional liability, commercial auto, or other types of coverage to your package depending on your company’s needs.
"Business insurance" is a generic term used to describe many different types of coverage a business may need. General liability insurance, on the other hand, is a specific type of coverage that business owners need to protect their assets.
Yes, you do. Liability could theoretically arise as soon as you begin interacting with customers or hiring staff members, and you will need to have purchased your business insurance before this in order to be protected.
For a Nerf arena, we recommend purchasing workers’ compensation, general liability, and commercial property insurance.
Not necessarily. Certain exceptions may be written directly into your Nerf arena insurance policy, and some perils may be entirely uninsurable.
Yes, an LLC is meant to create a legal barrier between your business and your personal assets and credit. If you haven’t formed an LLC yet, use our Form an LLC guide to get started.
An LLC doesn’t protect your business assets from lawsuits and liability– that’s where business insurance comes in. Business insurance helps protect your business from liability and risk.