Business Insurance

How to choose the Right Insurance for Your Gym

By August 9, 2019 No Comments

Running any kind of business that relies on the local community means that you lean on the goodwill of every person who walks through your doors. One bad experience can cause a ripple effect. Having the right kind of insurance for your gym is essential to making sure the inevitable injuries that occur in physically active spaces do not reflect poorly on your business.

People understand that things happen in a gym. What they are less forgiving of is a gym that is not prepared to take responsibility when necessary. How is your insurance plan holding up? Let’s take a look at the most important aspects for you to consider.

Business and Property Insurance

If your building gets damaged by any natural disaster, theft or fire, this policy will cover it. Business and property insurance will also help to create a more durable umbrella around your other policies, because the safety of everyone depends primarily on the infrastructure of your building.

General Liability Insurance for your Gym

Your clients will invariably hurt themselves at the gym. General liability covers everything from a weightlifting mistake to an accidental slip and fall on a wet spot in the locker room.

Professional Liability Insurance

This is also known as errors and omissions insurance, or E&O. Professional liability insurance makes sure that your business can’t be harmed because of the advice given by the personal trainers you employ or contract with.

You may have to deal with clients who want to sue you for performance issues as well, even if there is no injury. This policy makes sure that your business doesn’t go under just because someone’s biceps didn’t get quite as big as he had hoped.

Vehicles and Equipment

If you perform any sort of off-site service, then you may want to consider covering any of the vehicles that you use to transport staff for home training or to third party sites.

If you have to take equipment to any of these sessions, then you may want to get a policy to cover the value of those assets as well. A vehicle and equipment insurance policy ensure that the coverage you receive does not stop on the edge of your property.

Insurance for your Gym

Overall, the types of coverage that you use and the size of those packages will coincide with the scale of your business. The more people who walk in and out of your gym every day, the more coverage you will likely need.

The insurance policies above will keep your gym from pulling a hamstring. When you are ready for comprehensive coverage, a strategic ear and cost-effective service, call the dedicated small business insurance experts at Brashears Insurance.