Company insurance is intended to safeguard the financial assets of a business owner and is a crucial investment for a custom playset business.

Company insurance is intended to safeguard the financial assets of a business owner and is a crucial investment for a custom playset business.

This article will discuss the primary insurance coverage for custom playset firms, general liability insurance, as well as additional products that are appropriate for this industry.

Custom Playsets Businesses Need General Liability Insurance

Every firm, regardless of sector, has risks that should be insured. General liability insurance is the most frequent and comprehensive form of coverage that company owners purchase.

General liability insurance covers the following risks:

Physical harm

Damage to property

Medical expenses

Legal defence and decision

Personal and commercial harm

While general liability insurance is not legally needed for companies, operating without it is exceedingly dangerous. If your company is sued, you might face costs in the hundreds of thousands of dollars (or more). The only way to avoid this sort of catastrophe from destroying your organisation is to have an adequate general liability insurance coverage in place to assist pay for these losses.


Example 1: A client discovers an exposed nail in your company’s playground after their kid catches a trouser leg on it and falls. In the case of a lawsuit, general liability insurance would pay your legal fees.

Example 2: An employee mistakenly backs one of your vehicles into your manufacturing plant during construction. The expense of restoring the damage would be covered by general liability insurance.

Example 3: A client visits your facility to pick up their playset and stumbles on some loose flooring in the foyer. The wounded customer’s medical expenditures would be covered by general liability insurance.

Of course, this is not an entire list of risks covered by a general liability insurance policy, and certain situations may result in a specific peril not being covered. To minimise coverage gaps, it’s always better to speak with your agent about the terms of your policy.

General Liability Insurance Cost

Custom playsets firms in America typically pay between $300 and $800 per year for $1 million in general liability insurance.

The cost of your coverage will be determined by a number of variables. Among them are your:



Employees’ number

Per-occurrence restriction

The overall aggregate limit

You may be able to get general liability insurance at a lower cost if you buy it as part of a business owner’s policy (BOP) rather than as a separate policy. A business interruption policy (BOP) is a more complete option that covers numerous types of coverage, such as business interruption and property insurance.

Other Custom Playsets Coverage Needed by Businesses

While general liability insurance is the most crucial, there are various different types of coverage to be aware of. Other forms of insurance that all custom playsets firms should have are listed below.

Insurance for Commercial Property

This insurance covers your production facilities, playground equipment, and unique materials against a wide range of disasters like as theft, vandalism, and harsh weather. It covers the cost of repairing or rebuilding your building’s structure as well as any equipment or items you keep there.

Insurance for Workers’ Compensation

Workers’ compensation insurance is required in most states for both part-time and full-time employees. This coverage covers your workers if they are hurt at work or get sick as a result of a workplace accident. It covers not just an employee’s medical expenditures and missed pay if they need time off to recuperate, but also any disability or death benefits resulting from a work-related accident.

Insurance for Product Liability

Product liability insurance protects items that are faulty or hazardous. If a kid is harmed as a result of a malfunctioning slide on one of your playsets, for example, product liability insurance would cover your legal bills as well as any awarded damages from a lawsuit.

Insurance for Commercial Vehicles

Any truck or van used mainly for business by you or your workers needs commercial car insurance to safeguard the vehicle, driver, and others on the road in the case of an accident. Choose an insurance that covers not just accident-related vehicle repair expenses and medical care for anybody harmed, but also enough coverage for any finished playsets or unique materials you transport in your cars.

Some Custom Playsets Businesses May Require Different Types of Coverage

In addition to the insurance listed above, your custom playset company may need other forms of coverage based on particular parts of your activities. Some of them may not apply to you, so be sure to ask your agent whether policies are appropriate for your company.

Umbrella Insurance for Businesses

While most claims are covered by your general liability insurance policy, certain incidents or lawsuits may be so severe that they threaten to deplete the limits of your main coverage. Commercial umbrella insurance protects you from having to pay for legal expenses and awarded damages that exceed the limits of your main policy out of pocket. This insurance will also cover the price of rebuilding your company’s reputation.

Insurance for Professional Liability

If you advise consumers on the best sort of playset for their property, there is always the possibility that they may sue you if you make a mistake or fail to give important information. If the material in one of your playsets ruins the soil on a customer’s property and they claim you never informed them about it, professional liability insurance will pay your legal expenses and/or the cost to restore the damage if they sue.

Additional Security Measures for Your Company

Although investing in company insurance is simple (and necessary), it should not be your first line of defence. Yes, insurance will reimburse your company for cash losses incurred as a result of an occurrence, but it is much preferable to avoid losses altogether.

With this in mind, here are a few steps you can take to better secure your company:

Make use of legally binding contracts and other business agreements. (We provide free templates for several of the most often used legal forms.)

To safeguard your personal assets, form a limited liability company (LLC) or a corporation. (To discover how to incorporate an LLC or company in your state, see our step-by-step tutorials.)

Keep your company licences up to date.

Streamline the internal procedures of your company. This will eliminate unneeded variables from routine activities and establish a secure, consistent environment in which to do business.

If your company is an LLC, you should check into LLC insurance.