How to Get Insurance for Water Parks
If you own and operate a water park, it is of utmost important that you maintain proper insurance coverage. Your insurance will protect your investment in case an injury occurs while a patron is visiting your water park. The process of obtaining insurance for a water park is detailed and lengthy.
- Find an experienced insurance agent. You should locate a business insurance agent who has worked with theme parks, water parks or other outdoor recreation facilities. Contact potential agents and obtain information about their background, education and experience.
- Contact an agent and discuss the specific liabilities of your water park. You should take into consideration your unique park design and characteristics. You also want to ensure that your insurance covers injuries that might take place in your parking lot and other common areas, such as eateries.
- Arrange for an insurance agent to visit your park. Plan to be present for the visit and provide the agent with a thorough walk-through of your park. Discuss all aspects of the park and it's operation. This will allow your agent to develop an accurate risk assessment that is specific to your water park.
- Get an itemized copy of the risk assessment from the insurance agency. Discuss the assessment in depth so that you have a complete understanding of what the policy will cover. Consider inviting another insurance agent to your park to develop a second risk assessment. Most insurance companies provide free risk assessment services. Compare the two risk assessments.
- Choose your policy. Once you have reviewed the assessments, choose a policy that fits your needs and has the best price. Your final insurance policy should be thorough, detailed and within your budget.