Party Rental Insurance
Cossio Insurance Agency has been a leader in party rental insurance throughout the country. We are distinguished by our friendly customer service, industry knowledge, online applications, and years of industry experience. Insurance for Party Rentals is actually our specialty. We do more business with party rentals than any other entertainment program combined.
Inflatable slides, mechanical bulls, trackless trains, sumo, knocker ball & jousts are the devices that get the most claims. These items shouldn’t be overlooked. These items, as with any inflatable, require supervision and safety.
What is the potential income from a party rental company?
A party rental business usually starts with 3-4 units, which can bring in about $10,000 annually. A new company could make about $15,000 if they add a few units to their income. As with all businesses, the amount you make depends on many factors. A Florida party rental company owner can run more months than a New York business owner. As with all businesses, marketing is important.
What percentage of bounce house rental companies fail within the first year?
For 1st-year businesses, we see a 10% failure rate and for 2nd-year businesses, a failure rate of 15-20%. What are these businesses doing wrong to make money in the party rental industry? These are some of the reasons new owners of party rental businesses fail: They don’t have an official Facebook marketing page. 2. There is no business background. 3. To get more business, some owners will copy rates from other companies and make them lower than 10-20%. This may get them business, but it takes 10-20% of the money that could be used to invest in their business.
Is Cossio Insurance able to cover one-day events?
One-day event insurance is available at a minimum of $1,000. To inquire about one-day event coverage, please call our office at 864-688-0121.
What is Inland Marine coverage?
This policy covers your equipment. The policy covers your equipment against theft, fire, and vandalism wherever it is stored, transported, or at a party.
How does the Inland Marine premium work?
The value of your equipment will determine the premium.
What information do I need in order to receive a quote on Inland Marine Coverage
Inventory complete, serial numbers, and the value of all units.
What is an Additional Insured?
A person or entity that is not automatically covered by a policy of another but which the named insured provides some protection. General liability policies only provide defense coverage for the named insured. This includes the corporation, LLC officers, members, employees, volunteers, and other entities. Sub-contractors may be involved in your business or activities. You should request insurance coverage with limits at least $1,000,000 per event and add you as an additional insured. This is for their general liability, commercial automobile and workers’ compensation.
What are the best times to get an endorsement?
To obtain additional insurance status, an endorsement is usually required.
What is pay for play?
Pay for Play is a term that refers to situations where money is charged per person for the privilege of (playing in) inflatables. If someone installs an inflatable in a park and charges each child for jumping in it, that would be considered pay for play. Party rentals are not considered to be pay for play. For example, if you rent a bounce house for a party, it is considered pay for play. However, the children are not charged to jump in the inflatable.
Are there any Mechanical Bulls we can insure that are not inside bars?
It’s much more difficult to find affordable coverage for mechanical bulls in bars. Please give us a call so we can discuss your options.
Why is it so difficult to insure Mechanical Bulls within bars?
Because of the potential liability, it is more difficult to insure mechanical bulls within bars. Due to the fact that bull riders can be intoxicated, the risk of liability is very high. This means that premiums can go very high.