How fit is your insurance policy?
Fitness center insurance provided by Strickler Insurance.
As a gym or fitness center owner, customer waivers are usually not enough to protect you from potentially damaging financial risks. A specialty fitness center insurance policy can fill the gaps.
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Whether you call yourself a fitness center, health center, gym, or a specific type of physical training center you need to be insured to keep your doors open. At Strickler insurance, we provide gym insurance so that you can keep training without having to worry about liability risks. Contact us for a free insurance quote today.
What Is Gym Insurance?
Gyms and fitness centers are a unique type of business. On one hand, there is a mixture of staff and equipment, on another, there is a high risk of injury. Make sure you are protected from being held liable for a person’s injuries or actions.
My Gym has A Waiver Do I Still Need Insurance?
While waivers can be helpful in protecting you in lawsuits, they are not enough. Even if a person signed the paper that said they are utilizing the gym and equipment at their own risk, you could be held liable if they prove it was due to your own neglect that they sustained injury. Taking time to pay for a lawyer and attend court hearings is costly. Making sure you have general liability insurance for your gym can help alleviate those costs.
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Workers' Compensation
Risk Factor
If one of your employees receives an injury or becomes ill due to a work-related occurrence, you are required by law to have the proper coverage in place.
Solution
Workers' compensation protects your employees should a job-related injury or sickness occur during the course of employment. This coverage is required by law and may vary by area, so be sure that you understand your obligations for all physical locations where your business operates in and all physical locations where you hire your employees.
Commercial General Liability
Risk Factor
Water on the floor, slippery entry in the winter, broken glass/hazardous debris, etc. These are all accidents waiting to happen that make your business susceptible. Claims may arise due to bodily injury, property damage, personal injury, and more.
Solution
Commercial general liability insurance is an absolute necessity for any business. It provides broad coverage when you are deemed responsible and liable, and will also pay to defend any covered lawsuit or action regardless of its merit.
Professional Liability
Risk Factor
Are you asked questions such as "How can I lose weight?" or "How do I add muscle?" Your responses to those and other questions may be well intended, but what if your customers get sick or injured as a result of that advice?
Solution
Having professional liability insurance for personal trainers will help cover you against claims of negligence–even when you haven’t made a mistake.
Commercial Property
Risk Factor
When a fire, theft, or another type of disaster strikes, your commercial property and everything within it can suffer a significant loss. This can have a detrimental effect on your business.
Solution
Commercial property insurance can help protect the property your business owns and leases, including things like equipment, inventory, furniture, and fixtures. Whether you own your building or lease your workspace, commercial property insurance can be purchased separately or can be combined with other necessary coverage to protect your physical assets.
Employment Practice Liability Insurance (EPLI)
Risk Factor
On average, it's estimated that three out of five businesses will be sued by their employees. Claims can stem from just about anything, such as someone taking a "joke" the wrong way and being offended. While there is nothing you can do to prevent someone from filing a lawsuit, there is something you can do to limit the costs of defending a legal claim.
Solution
The right coverage is critical to your risk management process as it protects against discrimination, wrongful termination, sexual harassment, and other employment related allegations. Typically, the policy will cover your business as well as your directors and officers.
Business Income Insurance
Risk Factor
What would you do if a pipe leak impacted the operation of your business and prevented you from serving clients for a day or more? Or what if a fire destroyed your building? These and other events can destroy your ability to serve clients and bring in revenue, which can have a major long-term impact on the viability of your business.
Solution
Business income insurance compensates you for lost income if your company cannot operate as normal due to disaster-related damage that is covered under your commercial property insurance policy.
Commercial Umbrella Insurance
Risk Factor
What happens when your business faces a large liability loss that exceeds the basic limit of your standard policy?
Solution
A commercial umbrella policy provides high limits of insurance, up to $100,000,000. Coverage is extended over your general liability insurance, workers' compensation, business auto, and directors and officers liability insurance. It provides a great safety net and helps ensure your business is well-protected.
What Type Of Insurance Do Gyms Typically Have?
Most gyms have liability insurance and workmen’s comp. insurance. Below are a few other suggested insurance coverages for gyms. Because fitness centers can be very different, so can their insurance coverages.
- Gym Business Owners Policy (BOP): Getting a business owner’s policy for a gym and fitness center is essentially a bundle of business insurance coverages designed to protect your business. A BOP is essentially a combination of liability insurance and property insurance all in one policy. Bundling your business insurance usually makes it more affordable.
- Gym General Liability Insurance: Liability insurance for a gym and fitness center is extremely important to have. Protecting yourself from lawsuits or liability your business might sustain. Not having liability insurance could result in your business being forced to close.
- Gym Workers’ Compensation Insurance: Having workers’ compensation for your gym’s trainers is so important. Not only is it required by the state that you have workers’ compensation for your personal trainers and employees, but it also helps save you money. By having workmans’ comp you are more likely to retain employees.
- Gym Business Crime Insurance: When running a gym and fitness center you know there is potential for robberies to occur. If your fitness center primarily functions around the equipment you own, losing that equipment to a robbery could bankrupt your gym and cease all income. Having crime insurance for your gym will protect you, your business, and your equipment.
- Gym Cyber Liability Insurance: Cyber liability insurance is something almost every business needs. Think about any aspect of your gym and fitness center business that is present online. Imagine if any of that information or data were stolen or destroyed. Lacking cybersecurity has the potential to not only damage your business and reputation but to fully close your gym and fitness center doors.
- Gym Property Insurance: Having property insurance for your fitness center will protect your organization’s equipment and property. Be prepared for fire, flooding, theft, or accidental damages that can occur on your gym and fitness center property.
- Gym Umbrella Insurance: Having umbrella insurance for your gym and fitness center is such an effective way to protect your business. Umbrella insurance takes all of your existing gym and fitness center insurance and increases its effectiveness with additional payout coverage.
Gym Employee Benefits
- Gym Health Benefits: Get group health insurance for your gym and fitness center employees. Keeping trainers employed at your gym and fitness center business can be difficult, but by offering health insurance you can increase employee retainment and health for your whole organization.
- Gym Employee Vision Benefits: Get vision benefits for your gym and fitness center employees. Not every business offers group vision insurance, especially not every gym and fitness center. This benefit will help your personal trainers see how much you care about them and their vision.
- Gym Employee Dental Benefits: Get group dental insurance for your gym and fitness center employees. If your gym trains in kickboxing, Muay Thai, or any type of physical impact activity, you need dental insurance for your personal trainers. Just one missed kick or accidentally thrown elbow could leave your trainer looking like a hockey player.
Get Gym Insurance From Strickler Insurance
Strickler Insurance is located in Lebanon Pennsylvania. Get your gym and fitness center insurance in Lebanon PA, Pennsylvania, or one of our neighboring states. At Strickler, we hope to provide the best gym and fitness center insurance. We provide gym and fitness center coverage in New Jersey, New York, Maryland, Delaware and Virginia. Contact us today for a free gym and fitness center insurance quote!
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As an independent agency, we are here to help you find the right Fitness Center Insurance coverage.
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