A Guide to Gym Insurance
Everything you need to know about gym insurance
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What is Gym Insurance? And what does it cover?
Gym insurance primarily covers liabilities for staff and members, as well as expensive equipment cover.
Why should I buy it?
To protect your business and your members. Whilst well run gyms are a safe environment, with heavy machinery around an accident can happen and could prove very costly.
Top 5 frequently asked questions - with answers:
We have personal Trainers, do they need to be covered on Employers Liability?
PT's should have their own liability insurance, and as part of your contract with them you should stipulate this and ensure you check it annually. If there is a claim and an issue with their insurance, the claim would be made against the gym and affect your claims record.
Does gym insurance include combat sports?
You will need to notify your broker if you have Boxing/Martial Arts classes as these are typically higher risk.
What does Personal Accident Cover?
There are three different tiers you can choose from with differing levels of cover. Cover typically includes death and disablement benefit, loss of limbs and sight, physio and compensation for broken bones and emergency dental.
Are there any additional benefits?
Additional benefits for gym insurance can be cover such as equipment breakdown should your gym equipment breakdown and force a period of closure, for example.
How is price decided?
A number of factors including: size, turnover and claims history. Always be prepared to give examples of health and safety procedures and if you have had claims in the past - what have you done to prevent them happening again.
A tip for buying gym insurance
Always be open and honest. Spend some time reviewing who offers gym insurance and engage with a couple of brokers that you feel comfortable with.
Remember, you can also check out Full Time Cover's Worry+Peace page here.