A legit workout is all about pushing your limits, but unfortunately some limits are less flexible than others.
Finding ideal coverage to ensure recovery can be a tough hill to climb. Our independent agents will be there, water bottle in hand, to coach you through your options. All to make sure your company is properly protected.
What Is Gym Insurance?
In short, it’s business insurance with a double-shot of liability insurance. From heavy equipment to slippery floors, gyms can be dangerous. Gym insurance covers costs if someone gets hurt and there’s a lawsuit.
Why Do I Need Gym Insurance?
A good workout leaves you feeling invincible, gyms are anything but. Here are a few good reasons to get covered:
- Because all businesses carry risk.
- Because people are fragile and lawsuit-happy.
- Because bankruptcy is never fun.
What Does Gym Insurance Cover?
Gym insurance is tailored to the particular risks of your business. An agent will help you trim the stuff you don’t need and beef up what you do. Here’s what that entails:
- Business and property: This covers expenses if your building(s) and equipment are damaged by fires, theft or natural disasters.
- General liability: This type of coverage is for all the ways clients can accidentally hurt themselves at the gym. This could be a straightforward weightlifting accident or even a lawsuit for damages because a client was humiliated in the locker room.
- Professional liability: Also called errors and omissions insurance. This covers trainers, coaches and other professionals you employ at the gym. It covers legal expenses if they cause harm or injury to a client.
There are also a number of standalone policies available. Coverage options can include protection for vehicles and equipment if you hold off-site workouts. An agent will be able to walk you through all your risks and how to protect against them.
How Much Does Gym Insurance Cost?
The cost of gym insurance depends on the policy. Liability coverage will be the most expensive, but all together you can expect your premiums to be in the thousands per year. Factors like size, location, number of clients and employees will also play a major role.