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Company insurance is intended to safeguard the financial assets of a firm owner and is a vital investment for a laser tag business.

Company insurance is intended to safeguard the financial assets of a firm owner and is a vital investment for a laser tag business.

This article will discuss the primary insurance coverage for laser tag enterprises, general liability insurance, as well as additional policies that are appropriate for this industry.

Laser Tag Companies 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 is hurrying through the course when he stumbles and falls, fracturing his arm. He chooses to sue your company for monetary damages. While your firm may eventually be exonerated since clients accept some risk while playing laser tag, you must still defend your company by hiring a lawyer. Your legal bills will be covered by your general liability insurance.

Example 2: While sweeping, one of your staff forgets to put out a notice, and a client slips and falls, breaking her wrist. She requests that your company pay for her medical treatment. This is most likely covered by your general liability insurance coverage.

Example 3: A rival sues your firm, alleging that your newest marketing effort slandered their brand. General liability insurance will cover the expense of your legal defence as well as the cost of a settlement if one is required.

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

Laser tag firms in America typically pay between $400 and $1,100 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 Types of Coverage Required by Laser Tag 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 laser tag companies should have include:

Insurance for Workers’ Compensation

If you employ people, you are almost certainly obliged by law to have workers’ compensation insurance. Employees who are harmed while performing job-related responsibilities will be covered by the insurance. It will also assist in compensating wounded workers who are unable to work due to job-related injuries.

Insurance for Commercial Property

You’ve put a lot of money into starting and running your laser tag company. If you lost most or all of your equipment and supplies, such as if a fire broke out, it would be highly expensive to replace them and reopen your firm. If you have a business property coverage, however, you may make a claim with your insurer and get financial assistance in replacing your commercial property if it is destroyed in a covered occurrence.

Coverage Options for Some Laser Tag Businesses

In addition to the insurance listed above, your laser tag company may need other forms of coverage based on particular elements 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

A business umbrella coverage is intended to augment your general liability policy. There are limitations in every general liability insurance policy. If the limitations of your general liability insurance are surpassed, such as if you lose a large case, you will be required to pay the remaining expenditure. However, if your general liability insurance limits are surpassed, your umbrella coverage will kick in and pay the remaining losses.

Insurance for Commercial Vehicles

If you drive a car mainly for business purposes, you must have a commercial auto coverage to safeguard your vehicle, the driver, and others on the road. Your business car coverage will cover vehicle damage, damage caused by your vehicle, and medical treatment for injuries received in an accident.

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.