While gyms are a place of relaxation and revitalisation for customers, the operations behind running any health club or fitness centre safely and legally are complicated and stressful for owners. Like any business, there are three main areas of insurance: employees, customers and financial. However, it is also important to consider the different variations that health clubs and gyms specifically need to operate a safe environment for its staff and customers.
With the engagement in health and fitness being an ever-growing phenomenon, the requirement for specific insurance for gyms and bespoke policies to coincide with these needs has become considerably more desirable. While the general business insurance factors are still required, there are many different areas of cover that are necessary for a gym, health club or fitness centre.
Insurance for gyms: what your cover should include
- Professional indemnity
Professional indemnity is essential for health and fitness centres that offer any form of advice to its clients. If an employee gives a customer health and fitness advice that leads to injury, the gym, not just the individual, can be held liable.
While most businesses believe that public liability insurance will cover this, public liability only covers injury that happens on site, not an injury that occurs elsewhere based on advice given on site. While the injuries are still accidents, a company can be liable for advising on something that leads to injury, and a lawsuit of this area can have devastating effects on a company financially, legally and reputationally.
- Business equipment
While the majority of companies require insurance to protect their building equipment and fixtures, this type of insurance is particularly relevant to health centres when customers rely on the fitness equipment to utilise the services of the gym or health club.
Having damaged or broken gym equipment is not only extremely dangerous, but it can also lead to a loss of business if not all of the facilities are available. Insuring equipment gives a gym quick access to the support they need to fix anything broken and get the site running at full capacity again.
- Supplement insurance
On many health and fitness sites, the gym is not the only facility available to customers. Many different amenities include swimming pools, saunas, steam rooms and hot tubs. Having such additional services on offer makes a business more appealing to its customers. However, it also means that further and different depths of insurance are required to ensure that health and safety measures are always met. While different insurance can be taken out to cover all the various aspects of the facilities at the gym, some specialist insurers will offer a policy that includes all areas making covering and claiming for different amenities simpler.
What if these different insurance for gyms did not exist?
While business insurance is offered for all companies that operate, to protect their employees, customers and day to day operations, the different clauses that can be added to protect health and fitness companies are of the utmost importance to keeping them open and functioning. As health and fitness centres are classed as ‘at risk’ regarding accidents and injuries, it is essential to ensure all bases are covered so that minimal damage can be applied if an error is made whether through a customer or an employee.
The cost of a claim, if these clauses were not added, would more than likely close a gym if an accident happened that they were able to be held liable for. While it is understandable that a client who has sustained injury due to something caused by the company is often required to claim if it affects them at work or in their day to day life, the cost of these claims could take a business without the proper insurance into liquidation within days.
Insurance is most often seen from a business point of view to protect the company against claims that can be damaging, but any reputable company will also have the health and wellbeing of their customers at the heart of everything they are doing. Ensuring the right insurance is in place to protect them if their lives are affected in any way will gain a positive reputation for the company and, in turn, will help to boost profits through a positive consensus about their policies and dealings of serious matters.
The growth of the health and fitness industry has opened a considerable amount of room for errors to be made and accidents to become major incidents. However, with the right protection from an insurance point of view, everyone can come out of a situation with a positive outlook.
Do you have the right level of gym insurance?
Protecting your gym with insurance has never been so critical.
At Compare Insurance, we can help to determine every aspect of cover that your gym or health club may need. Once we have established your insurance requirements, we will conduct a detailed insurance comparison. We will not only look at the lowest prices but also the most extensive cover options and policy inclusions.
When one aspect of your gym is not functioning, it can quickly lead to loss of revenue, customers and a damaged reputation. Can your gym afford to wait for you to pull the finances and suppliers together? The right level of insurance can reduce your stress and guarantee to repair or replace critical aspects within a set time.
With extensive experience with insurance for gyms, we know the providers that go above and beyond for customers, not only promising good policy covers but also having a guaranteed call out as well as identifying the right people for the job should there be any issue within the gym.
Find out more about how Compare Insurance can tailor the right level of insurance for your gym or health club by calling the team for free on 0333 344 3705.