We just took possession of a commercial facility. We have a business insurance policy that covers basic property and casualty protection for the building owner and the tenant. It isn't very expensive.
Risk mitigation - we do the same thing that occurs in any real well run company. It doesn't matter if you have teenagers or adults you have to address things including the following
- employee contract - training, rules, procedures, and dismissal policy.
- training requirements
- zero-tolerance for teenage stupid, or even adult stupid. ( "Hey, what if we......" ) - not going there, no way no how
Just think about if you were running a chemical or industrial plant, with adults - same issues - supervision, training, discipline
Liability & Medical Expense - Each Occurence $ 1,000,000
Personal & Advertising Injury LImit $ 1,000,000
Damage to premise $ 500,000
Aggregate Limit - products completed operation $ 2,000,000
aggregate limit - except products complete operation $ 2,000,000
medical expense limit - per person $ 10,000
and a bunch more stuff.................................