What can be included on a gym insurance policy?
There are a range of core covers that are likely to sit at the heart of any gym insurance requirements.
Public Liability Insurance for gyms and fitness clubs. Probably your biggest need is to ensure that, in the event of a claim made by one of your customers that they have been injured or suffered a loss on your premises, your costs are covered. It could be someone slipping over at poolside or being scalded in your café – a claim, whether valid or not can be costly and a stress to manage. PL insurance is designed to support you in just such circumstances.
Employers Liability Insurance. This is required by law in the UK if you have anyone working for you. They may be contractors working as personal trainers, your maintenance team, and receptionists. EL works in a similar way to Public Liability but protects you where a claim is made by your own team.
Buildings and insurance for gyms. You biggest expense is likely to be the building you operate from. A fire or flood requiring repair can be extremely costly, and it makes sense to protect the premises, as well as contents including employees’ personal effects.
Gym equipment insurance. Professional gym equipment from rowing machines to weights are expensive to buy and must be maintained properly. You may have particular specialist equipment which is a USP to the business. You should consider the costs of repair or replacement to equipment. We can help you to buy appropriate levels of gym equipment insurance.
Professional Indemnity Insurance for gym owners. It’s likely that you have a team of fitness experts and personal trainers advising your clients on how best to achieve their fitness goals. But if their advice is deemed to be incorrect you could face a professional indemnity claim. PI insurance protects you from legal defense costs as well as any payout that results from the claim.