Whilst it is important to protect your business and its assets, it is just as important to protect the public too from incidences that may occur. Operating a business open to the public can be full of risk and Public Liability insurance will protect all parties involved. Theatres and Cinemas insurance is vital and can include the following.
Public Liability covers compensation for injury or accident to a third-party persons or property as a result of negligence. For example, if someone is to slip or trip on a wet floor or uneven types of flooring that is unsafe due to a business’s negligence or carelessness, then compensation would be paid for any injuries sustained.
The limits of cover usually start at £2,000,000 and can be increased to £5,000,000, with some insurers offering £10,000,000.
Alongside Liability we would also expect all Cinemas and Theatres to cover the buildings, contents and equipment within. Also, business interruption and employers liability too.
Buildings Insurance – cover for material damage to the building, to include Property Owners Liability.
Contents, Fixtures & Fittings, Machinery and Plant – material damage cover for the cost of replacing or repairing your business contents, equipment, machinery; for example, audio and electronic equipment. Cover will be following a loss to include fire, flood, malicious damage, storm, accidental damage or theft for example.
Loss Of Income/Business Interruption – cover for a financial loss of income due to disruption or closure following an insured event such as a fire or flood.
Employers Liability – very similar to public liability however this is for accident or injury to an employee or person you are responsible for in the work place.
How much insurance cover do I need for a Cinema or Theatre?
The levels of cover are very much dependant on the individual businesses needs and can be tailored to a package that suits you.
How much does Liability insurance cost for a cinema?
The cost of liability insurance will depend on the individual business risk information to include size, number of people, claims history, and location. There is not an average cost however there are things that a business can do to help reduce insurance costs such as improve health and safety and frequent risk assessments and risk improvements.
What insurance does a theatre or cinema need?
There are a few other types of insurance to consider and those listed below may suit your insurance requirements;
- Money Cover
- Adverse Weather Events
- Cancellation Cover
- Legal Cover
- Terrorism Cover
To discuss your Cinema and/or Theatre insurance requirements please contact us on 01442 242400 to discuss a full range of business insurance products that are available.