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TOPIC: insurance blues

insurance blues 03 Mar 2004 14:18 #8001

  • Blue sky
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Help!! Can anyone out there refer me to an insurance company that specializes in movie theatres? I was just quoted $60,000.00 per year by my regular insurance guy. Does this seem reasonable? We are supposed to open in mid-May and this may just do me in. I need help ASAP. thanks p.s. this is based on 1 mil liability, $700,000 in ticket sales and $225,000 in concessions.
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Re: insurance blues 03 Mar 2004 14:59 #8002

  • outaframe
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WOW, that's brutal!... Liability rates are normally based on HEAD COUNT, rather than BO gross... I would certainly make sure that you and your agent are on the same page, and comparing apples to apples... The concessions quote figure should also be based on risk factor, and unless you are selling something high risk (corn dogs with pointed wooden sticks, etc), I would look into this with the risk factor in mind, and question, question, question!...
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Re: insurance blues 03 Mar 2004 15:17 #8003

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posted February 21, 2004 06:18 PM, by Large in this thread
Have you gotten an insurance quote yet?

God, I hate it when I'm right.


Yep, that's what we pay for our 5-plex. We insure through Marsh in NYC. We were kind of shocked too. It doubled from last year. And to think, people wonder why we keep increasing the price of a ticket.



[This message has been edited by Large (edited March 03, 2004).]
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Re: insurance blues 03 Mar 2004 18:50 #8004

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We've talked about this before and I still can't figure it out. We insure a 4 plex in Ohio through Westfield Companies for $270.82 per month. I checked our policy again and we are covered for $1 mill liability per occurrence along with business interuption, business personal property, glass, personal property of others, etc. We don't cover non owned autos as we don't send anybody out for food. While this has gone up a bit, it is hard to tell how much as we added a theater and then dropped the old one off in the course of the last year. Still amazingly reasonable. I am going to consider us lucky rather than stupid but your costs make me wonder. Our policy comes up again for renewal in May. I hope it doesn't go up that much or we will be out of business.
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Re: insurance blues 03 Mar 2004 18:53 #8005

  • Ken Layton
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The most well known theater insurance company is Reynolds & Reynolds (www.reynolds-reynolds.com) and their phone number is 1-800-767-1724. Also try Maroevich, O'Shea & Coghlan (www.mocins.com)
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Re: insurance blues 03 Mar 2004 19:48 #8006

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One explanation for the wide variation in costs involves the fact that each state has a state insurance commission which regulates the rates in that particular state...
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Re: insurance blues 04 Mar 2004 18:18 #8007

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We pay in the neighborhood of $10,000/yr for a one screen with 1 mil liability and and about 2 mil for building replacement/contents. This is through Auto-Owners Insurance
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Re: insurance blues 04 Mar 2004 23:20 #8008

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Blue Sky,

That's way too much. We pay'd about that for our 5-plex as Large mentioned, but our rates went up because we had a claim. However, our revenue is about 3x what you listed, so I think your quote is really high. Give Marsh USA a call, its the entertainment and media division. Be sure to get the specifics of the policy and make sure the rate base is correct. You should be charged based on admissions for liability insurance and this should include your concessions sales as long as you are just a straight up movie theatre and not serving alcohol or being a cinema grill.
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Re: insurance blues 15 Mar 2004 13:53 #8009

  • Tim Eiler
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60,000 Gross revenue 1 mil liability 500,000 building and contents (outdoor theatre) 7,800 for insurance.

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Re: insurance blues 24 Mar 2004 11:52 #8010

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Beckwith1,Rialto and anyone else
could you please pass along the phone number of Westfield Insurance company to [email protected]/also Marsh USA phone number. I have tried to find that number thru directory assistance and am coming up with the wrong one I think. Thank you so much for your help.
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Re: insurance blues 24 Mar 2004 17:32 #8011

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Westfield Insurance is sold through independent insurance agents so I am not sure whether I can get you a working phone number. Their address is: Westfield Companies, One Park Circle, P. O. Box 5001, Westfield Center, OH 44251-5001. Looking in my local phone book I see a possible number to ask for an agent in your area: Westfield Group (330) 887-0101.
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Re: insurance blues 29 Mar 2004 10:01 #8012

i used Reynolds & Reynolds (515)243-1724 and got a nice savings over my local broker
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Re: insurance blues 29 Mar 2004 10:28 #8013

I tried www.mocins.com and Renyolds and Reynolds. They both said that they are unable to insure me.

I am starting a mobile movie theatre. Any one have suggestions for a different insurance carrier to contact?
http://www.TheArcticCinema.com
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Re: insurance blues 29 Mar 2004 11:15 #8014

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Joshua:

Try these fine folks:

Showmen's Insurance Agency
Div of OnTrack Associates
7301 N. Lincoln Ave., # 185
Lincolnwood, ILL. 60646
Phone: (847) 676-1444
Fax: (847) 676-2578
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Re: insurance blues 02 Apr 2004 14:13 #8015

  • NanEman
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Since somebody mentioned cinema grill type operations, does anyone have a quote/rate for their operation of this kind? Ours will be a four-plex with the dreaded fryers in the kitchen and beer/wine will be served. I'm holding onto my seat, I'm not sure I'm ready to hear it, but better to get the real scoop before we open, right?
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