What Coverages Does Fitness Club Insurance Come With?
Precisely what coverages are included in a fitness club insurance policy can vary, but there are several common ones that most policies at least make available as optional protections (if the coverages aren’t standard protections). Many of these common coverages are either liability protections or property protections.
Liability protections normally protect a gym against claims and lawsuits that could arise if the gym is responsible for property damage, personal injury or some other form of harm that affects another party. Some of the more common liability protections that these policies typically offer are:
- General Liability Coverage, which may cover basic accidents that occur on a gym’s premises and defamation lawsuits filed against a gym
- Professional Liability Coverage, which may cover mistakes and other errors that class instructors and personal trainers make while working for a gym
- Product Liability Coverage, which may cover harm that’s caused by products a gym sells to its members
- Participant Liability Coverage, which may cover injuries that are sustained by members while exercising or taking classes
- Spectator Liability Coverage, which may cover injuries that bystanders sustain when near or observing activities
- Cyber Liability Coverage, which may cover data leaks and breaches of sensitive member information
- Umbrella Liability Coverage, which may provide a secondary level of liability protection for large claims
Property protections normally protect the physical assets that a gym has. These protections usually offer coverage against theft, fire, storms and similar perils (depending on the coverages’ terms). Some of the more common property protections that fitness club policies make available include:
- Building Coverage, which may protect a building that a gym owns
- Contents Coverage, which may protect supplies and equipment that a gym owns
- Equipment Breakdown Coverage, which may protect essential equipment if it breaks down
- Business Income Coverage, which may cover revenue losses if a gym can’t open because of a disaster
All of these coverages come with their own terms and conditions that stipulate exactly what protections are provided. An insurance agent who specializes in fitness club insurance can explain coverages in more detail.