Full Editorial
Operating a movie theater can be an exciting and fulfilling venture. As with all businesses, there are many behind-the-scenes requirements that can’t be ignored. One of these requirements is insurance. Insurance is meant to protect a movie theater owner and other stakeholders from the costs associated with damages, lawsuits, accidents, and more. There are a lot of different types of insurance for businesses, but it’s especially important to focus on the following four specific types of commercial insurance for a movie theater.
1- Commercial Property
The most commonly held type of insurance is commercial property insurance. Commercial property insurance protects the building a business is in, its inventory, and all other assets. This insures the business in the event of things like fires, natural disasters, and vandalism. Commercial property insurance helps movie theater owners spend less time worrying about their property so the scariest thing at the theater is the thriller playing on screen six.
2- Commercial Umbrella
Some types of insurance, like commercial umbrella insurance, supplement existing insurance policies and help protect the business owner from gaps in their insurance coverage. This is usually added to general liability insurance or commercial property insurance. Movie theaters can host thousands of guests each week, so having this extra coverage to protect against potential claims can be important. It can be difficult to determine if this type of insurance is needed, but there are many websites where insurance options can be viewed and business owners can talk to professionals for insurance advice.
3- General Liability
Though not always required, general liability insurance is highly recommended for all businesses. General liability is required in some cases, such as commercial and business leases and businesses with a liquor license. A movie theater should have general liability even if these requirements aren’t present because it will protect against third-party bodily injury and property damage, fees for legal defenses in case of lawsuits, and other related legal matters. Having general liability insurance is the best way business owners can protect themselves against very costly third-party claims.
4- Workers’ Compensation
Movie theaters employ dozens of employees who perform various tasks, some of which can result in illness or injury. If an employee is injured or gets sick as a result of their duties in the movie theater, a workers’ compensation policy protects both the employee and their employer. Workers’ compensation reduces medical costs for injured or sick workers, so they can focus on healing and return to work at their own pace. Workers’ compensation insurance protects the business because, once an employee agrees to the business’ workers’ compensation, their ability to sue the businesses for injury or illness on the job is greatly reduced.
From opening scenes to end credits, operating a movie theater should be a fun and lucrative business. Without insurance, the bright future of a movie theater could be hanging in the balance. When the proper insurance policies are in place, business owners will feel secure in knowing they are protected from natural disasters, vandalism, employee injuries, and more. By talking to an insurance professional about insurance policies and special business coverage, movie theater owners can protect their business and their customers.
