Do I Need Insurance Before I Start A Water Park?

As an insurance provider for the leisure and amusement industries, Northeast Insurance Center often receives questions from potential water park owners about whether they need insurance before starting their businesses. The short answer is yes, you absolutely need insurance before opening a water park.

view of a water park

Water Park Risks

Water parks are a popular destination for families and thrill-seekers alike, offering a wide variety of attractions such as water slides, lazy rivers, and wave pools. While these attractions can be a source of fun and excitement, they also come with inherent risks. From slip-and-fall accidents to more serious incidents such as drownings, water parks have the potential to cause significant injury or even death.

Going Without Insurance

Without insurance, a water park owner would be responsible for covering any damages or lawsuits that arise from these incidents. While you can mitigate a certain amount of risk with defined rules (such as no running by the pool) and lifeguards on duty, accidents are bound to happen due to the sheer volume of people who are likely to be using your facilities daily.

The cost of expenses that arise without insurance could easily exceed the financial resources of even the most well-prepared business owner, leading to bankruptcy or other financial ruin, as well as the likely closure or sale of your investment that you’ve put so much work into.

insurance agent working on paperwork

Types Of Insurance To Consider

To avoid such a scenario, water park owners need to invest in the right insurance coverage before opening their doors. Here are some of the types of insurance that a water park owner should consider:

a smiling family at a water park

General Liability Insurance

This type of insurance provides coverage for bodily injury or property damage that occurs on the water park premises. It can cover medical expenses, legal fees, and other costs associated with accidents that happen onsite.

view of a water park

Property Insurance

This type of insurance covers damage to the water park’s physical property, such as the attractions, buildings, and equipment. It can also cover losses due to events such as fires, storms, or theft.

a life guard

Workers’ Compensation Insurance

If you have employees working at your water park, you will need to invest in workers’ compensation insurance. Proper training and safety standards will lessen the chances of an employee getting injured on the job, but the chances are never zero. This type of insurance covers medical expenses and lost wages for employees who are injured on the job.

girl splashing in water

Umbrella Insurance

This type of insurance provides additional liability coverage beyond what is offered by your other insurance policies. It can be especially important for businesses that are at a higher risk for large liability claims.

In addition to these types of insurance, water park owners should also consider cyber insurance, employment practices liability insurance, and other specialized coverage depending on the specific needs of their business.

Why Work With Northeast Insurance Center

When shopping for insurance for your water park, it’s important to work with a reputable insurance provider who has experience in the leisure and entertainment industries. They will be able to help you determine the types of coverage you need, as well as the appropriate coverage limits and deductibles.

At Northeast Insurance Center, we specialize in providing insurance for the leisure and entertainment industries, including water parks. Our team of experts can help you identify and manage the risks associated with your business, so you can focus on providing your guests with a safe and enjoyable experience!

Contact Northeast Insurance Center to learn more about the types of coverage you need to ensure the success of your water park. We cover amusement and leisure companies nationwide and have been since 1992. Trust us to understand your needs and get you covered.

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