A fire at your Gym/Fitness Center or a lawsuit from a weight-lifting injury could devastate your small business. Insurance for gyms can cover property damage, client injuries, professional oversights, and more.
General Liability Coverage
If one of your customers slips on the treadmill and suffers an injury, you will have to pay for the medical expenses and you might also face a lawsuit.
Your general liability policy would cover the medical expenses and also cover legal expenses for the lawsuit.
Commercial Property Insurance Coverage
A fire breaks out in your gym and destroys much of your equipments and machines.
Your commercial property insurance would help you cover the loss.
Professional Liability Coverage
If any of your customers sue you and your gym for negligence, you will have to pay for legal fees for the lawsuit
Your coverage will help cover all related legal fees. Commercial Auto policy would cover any expense for the medical care of the other driver and repair his property
While carrying a heavy gym equipment, your employee suffers an injury. He needs medical care and cannot work until he recovers.
Workers’ compensation would pay for his medical bills and a portion of lost income while he recovers and is unable to work.
Gym insurance is a combination of several policies, such as general liability, property coverage, and workers’ compensation. Sometimes gym owners have to get certain policies to fulfill contractual obligations, but even if that’s not the case, gym insurance is a good idea. Without it, lawsuits and other hazards can drain the business’ bank account.
Gyms come in many forms these days, and gym insurance is usually appropriate for nearly all of them, including:
Every business faces the possibility of a claim, but the physical nature of the operations and the equipment required can make a gym more prone to risk. When it comes to sports and recreational injuries, exercise and exercise equipment sent 468,315 people to the emergency room in 2019, according to the National Security Council Injury Facts.
Not all of these injuries occurred in someone’s gym, but at the same time, an emergency room visit isn’t the only way a gym owner can end up in court. Ultimately, every gym and fitness center owner needs business insurance to protect their assets.
Policy | What It Covers |
|---|---|
General Liability | Nonemployees’ claims over property damage, bodily harm, and advertising injury |
Commercial Property | The cost of repairing or replacing business-owned property |
Workers’ Compensation | Injured employees’ lost wages and medical bills |
Professional Liability | Legal costs in allegations of negligence |
Medical Payments | Medical bills for an injured participant |
Every Gym owner needs to get policies that cover their risks, including both supervised and unsupervised workouts with various machines and equipment. Gyms have more risk than a trip-and-fall where clients may get injured in an exercise or even suffer cardiac arrest on the bike’s pedals! Don’t go bankrupt because you were confused about your insurance coverage.
Contact us today to find the right coverage for your Gym and Fitness center.
It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options
If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.
Contact us today to help you with multiple options to choose from.