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Video Arcade Insurance

Video arcades are popular hangout spots for people of all ages, providing entertainment and amusement to players of all skill levels. Nevertheless, owning and operating a video arcade comes with a unique set of risks that can threaten the financial stability of your business.

From theft and vandalism to accidents and injuries, there are many potential liabilities that arcade owners must be prepared to face. This is where video arcade insurance comes in. 

Who Needs Video Arcade Insurance?

Video arcade insurance is designed to protect businesses that operate video arcades, game rooms, and similar establishments. If you own or manage a video arcade, you are at risk of facing a variety of liabilities, including property damage, theft, and bodily injury. Without proper insurance coverage, you could be held liable for these damages and face significant financial losses.

Types of Video Arcade Insurance

There are several types of video arcade insurance policies that you can choose from, depending on the specific needs of your business. Here are some of the most common types of coverage available:

General Liability Insurance

General liability insurance is a must-have for any business owner, including those who operate video arcades. This type of coverage protects your business from claims of bodily injury and property damage that may occur on your premises. For example, if a player slips and falls in your arcade and injures themselves, general liability insurance can help cover the costs of their medical bills, legal fees, and other expenses.

Property Insurance

Property insurance is designed to protect your arcade’s physical assets, such as the building, furniture, and equipment. This coverage can help you recover from losses due to theft, fire, vandalism, and other covered perils that result in damage to your property.

Workers’ Compensation Insurance

If you have employees working in your arcade, you may be required by law to carry workers’ compensation insurance. This coverage provides benefits to employees who are injured or become ill as a result of their job duties. Workers’ compensation insurance can help cover medical bills, lost wages, and other expenses related to a workplace injury or illness.

Cyber Liability Insurance

In today’s digital age, cyberattacks are a growing concern for businesses of all types, including video arcades. Cyber liability insurance can help protect your business from losses due to data breaches, hacking, and other cyber threats. This coverage can also help cover the costs of notifying customers about a data breach, hiring experts to restore your systems, and other expenses related to a cyberattack.

Umbrella Insurance

Umbrella insurance is a type of coverage that provides additional liability protection beyond the limits of your primary insurance policies. This coverage can help protect your business from catastrophic losses that exceed the limits of your other policies.

How Much Does Video Arcade Insurance Cost?

The cost of video arcade insurance can vary depending on several factors, including the size of your arcade, the number of machines you have, and the type of coverage you need. On average, video arcade insurance can cost anywhere from $500 to $5,000 per year. However, the actual cost of your policy will depend on your specific needs and the risks associated with your business.

To get an accurate estimate of the cost of video arcade insurance for your business, it’s best to consult with an experienced insurance agent who specializes in this type of coverage. They can help you assess your risks, determine the type and amount of coverage you need, and provide you with a customized insurance quote.

Video Arcade Insurance Requirements

The specific requirements for video arcade insurance may vary depending on your location and the regulations in your state or municipality. There are some general requirements that most arcade owners will need to meet.

For example, if you have employees working in your arcade, you will likely be required to carry workers’ compensation insurance. You may also be required to carry general liability insurance and property insurance, depending on the laws in your area.

Commercial Insurance And Business Industry Classification

  • SIC CODE: 7993 Coin-Operated Amusement Devices
  • NAICS CODE: 713120 Amusement Arcades
  • Suggested Workers Compensation Code(s): 8017 Store – Retail NOC

Video Arcade Insurance – The Bottom Line

Owning and operating a video arcade can be a fun and rewarding business endeavor, but it also comes with its risks and liabilities. Video arcade insurance is an essential tool for protecting your business from financial losses due to property damage, theft, bodily injury, and other unexpected events.

Contact an experienced insurance agent today. We can help you assess your risks, determine your coverage needs, and provide you with customized insurance quotes that meet your specific needs and budget.

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