Gym & Fitness Center Insurance

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Gym and fitness centers are one of the few places where the general public can get seriously injured. Not only that - but as a gym and fitness center - your business is also exposed to a number of different risks, including property damage, vandalism, and theft.

And while there are many things you can do to protect your business, staff, and members - some inevitable, an accident will happen, and the best way to protect yourself from it is by taking out an adequate level of insurance.

How Much Does Gym Insurance Cost?

The gym insurance cost you’ll be expected to pay will depend on various factors including the state you’re in, the number of staff and members you have at your gym, the size of the sports facility, and others.

To give you an idea, the average gym and fitness center in the U.S. pays around $40 per month or $480 per year on gym liability insurance. This policy will provide all the necessary cover against claims and lawsuits that have resulted from property damage and third party bodily injuries.

Insurance for gym owners is also recommended. This policy is called business owner’s insurance, which combines commercial property insurance with general liability insurance. It costs around $840 per year, which comes down to around $70 per month.

If your fitness and gym center employs any staff - then you’ll need to protect their well-being with a worker’s compensation insurance. This policy will cost you around $75 every month or $900 per year. If an accident were to happen with one of your employees - their medical bills, lost wages, rehabilitation, and all other costs will be covered by the insurance company.

To further protect your business from professional mistakes or accusations of negligence and malpractice - professional liability insurance is recommended. You’ll be expected to pay around $40 every month or $480 per year for this policy.

What Types of Business Insurance Do Gym and Fitness Centers Need?

Gyms and fitness centers can benefit from various different types of gym insurance. Typically - the insurance your sports facility needs to take out will depend on the size of the business, the facilities within your gym or fitness center, the number of staff your business employs, and other similar factors like that.

Please take a look below to find the most suitable insurance policies for gym and fitness centers:

Why Do Gym and Fitness Centers Need Insurance?

Generally speaking, gym and fitness centers are exposed to a range of different risks, which can easily become grounds for hefty lawsuits and claims.

For instance, if a member runs on a treadmill and accidentally slips and falls - that can lead to serious bodily injuries. And if the member decides to take legal action against your business, and if you’re found to be guilty - without insurance, your business will have to pay for everything to do with the accident.

That’s why getting your gym and fitness center insured with all the necessary policies is essential as it will protect the financial standing of your business in case of such unfortunate events.

And while such scenarios are quite rare, property damage due to theft, vandalism, and poor weather conditions are not - so you always want to make sure that no matter what - your business is covered from all angles.

In other cases - gym and fitness centers are simply required by law to take out a certain level of insurance coverage before they can serve the public and allow them on the premises of their business.

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