“Protecting your gym or health club from unexpected incidents is crucial, and the right insurance can provide you with peace of mind. Whether you opt for a single policy like general liability or a combination of policies such as a business owner’s policy (BOP), it’s essential to have the right coverage in place to safeguard your business from customer injuries, equipment damage, and subsequent lawsuits. The cost of general liability insurance for a gym can range from $200 to $4,900 per year, depending on various factors.
Determining the best coverage for your gym can be overwhelming, as different policies may be required. Seeking help from a professional to assess your business’s specific needs and risks is a wise choice. Next is a reputable provider of gym, personal trainer, and fitness instructor insurance. With their user-friendly quote system, you can easily obtain customized coverage that meets your business’s unique requirements. Get a free quote from Next in just a few minutes and secure the protection your gym needs.”
Gym Insurance Costs
Gym insurance has a higher amount of risk due to the nature of the business, hence the premium is more than for other enterprises. Sample prices for establishments with less than 2,500 square feet and $500,000 in yearly revenue were provided. The overall cost of insurance may still exceed $10,000 per year.
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The price of gym insurance depends on several things. When submitting an application, be prepared to respond to inquiries regarding the size of the gym, the number of employees, and whether or not you hire or permit minors to use the facility. You could also enquire about the business’s hours and whether massage therapy is offered.
Many insurers have excluded the following activities or will charge significantly more for them:
- Training minors
- Giving nutrition or diet advice
- Hosting fitness competitions
- Selling private-label supplements
- Teaching martial arts
What Type of Gym Insurance Do You Need?
“Whether you’re a fitness instructor or a gym owner, having gym insurance is a must. The type of coverage you need will depend on the specifics of your business. For instance, a fitness instructor leading classes in a public park would need general liability and professional liability insurance. They would also require commercial property insurance to protect their equipment.
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Meanwhile, gym owners should consider a business owner’s policy (BOP) and workers’ compensation insurance if they have employees. It’s essential to keep in mind that some property owners may require proof of insurance before renting you space.
At Next, we offer customized coverage for fitness instructors, personal trainers, and gym owners. Our easy-to-use quote system will provide you with a free quote in minutes. We also have a guide on the best professional liability insurance companies if that’s something you need.
Other businesses that should consider gym insurance include boutique clubs, fitness centers, and Pilates, yoga, and dance studios. With coverage ranging from general liability to professional liability, we’ve got you covered.”
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Some other businesses that should look into gym insurance are:
- Boutique clubs
- Health clubs
- Fitness centers
- Pilates, yoga, and dance studios
- Franchise operations
- 24/7 key access clubs
6 Best Gym Insurance Providers
- Next: Best for gym owners
- The Hartford: Best for personal trainers
- Insurance Canopy: Best for affordable and quick insurance
- Simply Business: Best for comparing quotes
- ACE: Best for outdoor classes
- K&K Insurance Corporation: Best for 24-hour clubs