Frequently Asked Questions
Do you ever wonder how insurance works? Here we answer some of your questions!
Click on the questions below to see the answer.
It is as many say a necessary evil… However, it has been the brick wall between many small businesses and disaster.
You can do everything right and still have a claim. You owe your patrons the protection of quality coverage, you owe it to yourself, and it is an obligation under law.
What you need to know most about insurance is that you will likely get out of it as much as you put in, so always give yourself time, be thorough, ask questions, fill out forms thoughtfully, and interact with the people you trust to handle it for you.
Insurance may mean life or death for your business someday. Treat it seriously and choose carefully those who represent you. Find out who they are BEFORE you buy.
- 1. Compliance. Every buyer should use google or a phone call to their state to find out what the requirements are to be legal as an operator in their state, for their particular array of devices.
- 2. Expertise. Does my broker really know what I do? Am I in good company?
- 3. Selection. Am I lumped in with the crowd or is this program operating on a limited basis? “Take all comers” has been the death toll of many, many programs.
- 4. Safety. Is safety pushed, enforced and integral to the program? Even if the focus becomes annoying, this is what keeps your insurance program viable year after year.
There are rules of thumb that apply to different devices, but a lot varies based upon your own history, what you want to cover, where and how you use it and what state you are domiciled in.
There is one constant… Broker fees, dues, memberships, etc. ARE NOT appropriate charges and need not be tolerated. A small cost for a tax filing ($25) and safety resources ($100 – $200) is very normal, and supports your actual policy. Brokerage to be piled on top of a commission already paid is not.
That said, costs have gone up. The lack of a cohesive model has taken its toll over time, and to a large degree the insurance market for amusement devices is in a state of chaos. We are doing our best to play a part in restoring order, but it is admittedly a daunting task.
Fun Co. is a company focused on underwriting and sustainability. Fun Co. is looking for the next 5 years, not the next 5 accounts.
Underwriting discipline means hard decisions, exclusivity, and a relentless focus on safety and loss control. Choosing Fun Co. means you have associated with experience professionals looking to do more than simply land an account.
We believe we are the best chance for the best elements of your industry to be gathered together for successful, reasonable sustainable insurance protection.
Do you have any questions that haven’t been answered here? Please do not hesitate to contact us, and we’ll get back to you right away!