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.
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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.
What Is Gym / Fitness Center Insurance?
Who Needs Gym Insurance?
Gyms come in many forms these days, and gym insurance is usually appropriate for nearly all of them, including:
- Boutique membership clubs
- Health clubs
- Fitness centers
- Pilates, yoga, and spin studios
- Franchise operations
- 24/7 key access clubs
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.
Gym & Fitness Center Insurance Policies
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.