Theatre Insurance Insurance for a theatre building including it’s business assets is available from Assetsure. Theatres come in all shapes and sizes, from the small provincial outfits, to the large grand and ornate properties, located in our major towns and cities. These buildings are easily recognizable and are frequently focal points of any town or city. Theatre constructions often have listed building status in recognition of their position in our nation’s heritage. There are numerous types of use for a Theatre, as well as putting on dramatic events such as plays, then can also be used as cinemas, bingo halls and show productions of ballet and opera. Many of our old theatres and music hall premises have been converted to allow musical groups to perform at them as well as offering most forms of entertainment.
Theatre Insurance-what can be covered?
Theatre insurance can be provided for the building, which includes the structure, itself and all it’s fixtures and fittings. In some cases, the building is rented from a landlord, in which case they will take care of the building insurance and charge theatre company accordingly. If this is the case, you will need to understand who is responsible for the insurance of any glass in the buildings. It is likely that the landlord will want you to insure the glass as well as any advertising sings or billboards under your own business combined insurance policy. As with most building insurance policies, a wide range of perils will be included, which can be extended to include accidental damage.
The buildings can be included under a combined package policy, but if the buildings cover has already been arranged, the combined policy will take care of all the belongings of theatre Company. This will include equipment, lighting, gantries, drapes, curtains, safety screens, sound amplifications, stage equipment, etc. as well as the scenery and costumes used by the company. If a touring company or troupe puts on a production at theatre, then they will be responsible for their own insurance needs. As well as the above, many theatres that are licensed contain a stock of alcohol and may even include catering equipment, to prepare food for patrons. To cover these items correctly, you will need to obtain a replacement valuation.
Theatres are vulnerable to a wide range of threats like any business; fire is always a worry as are Thefts from burglars looking to steal valuable equipment or stocks of alcoholic beverages. A theatre package insurance policy can help guard against a wide range of perils including the following.
With large numbers of people in attendance, a theatre could be vulnerable to a claim from a member of the public for injury or illness (caused by food poisoning). Theatres often contain semi fixed equipment and items of scenery which could possible fall or collapse and injure a visitor. Indemnity for up to £5,000,000 is included to protect against this as is the cost of defending any claims. As well as members of the public, often theatre employees are required to wok with equipment, either in a maintenance roll or as one of the actors themselves. If an injury occurs, theatre could find itself liable. Cover up to £10,000,000 is provided for this.
One of the biggest threats to any theatre is the possibility of having to close for a period of time following a major incident, such as a fire or a flood. If shows cannot be staged, then the business will not receive any income. This can place a large strain on any business, particularly as some costs are fixed and will still have to be paid, even if theatre is closed. Loss of Profits insurance will help to guard against this by providing insurance cover whilst the business is unable to trade following an insured event. As well as the typical scenarios, such as fires and floods, cover is extended to include such eventualities as denial of access (perhaps a building near yours is forced to close with the result that access to your own building is restricted) and even forced closure following an outbreak of a notifiable illness or death occurring at the premises. The policy wording contains many other sections all designed to help protect your business, please call our office for a quotation.