Gym and health club insurance offer a range of coverage which a gym or health club should opt to mitigate the probable risk occurrences that could conceivably cause harm to someone or your clients. There may also be the case of damage to your own gym property.
Following are the types of claims which can be covered under gym and fitness studio insurance:
Guaranteed renewable gives you the right to renew the policy with the same benefits and not have the policy canceled by the company. However, your insurer has the right to increase your premiums as long as it does so for all other policyholders in the same rating class as you.
1. Third party liabilities claims: Claims related to bodily injury or property damage to someone, might be a visitor or a gym member are covered under gym insurance. Risk of injuries or accidents occurring to the third party within the gym premises can be mitigated by opting general liability coverage under fitness studio insurance. For example, A slip or fall due to water on the gym floor can be covered under third party liabilities as the incident occurred within gym premises.
2. Error and omission claim: Professional indemnity claims such as incorrect advice, given by a personal trainer resulted in damage to the client, can be covered under gym and health club insurance. Any negligent act resulted in client’s loss or damage might be reported and can invite a claim of professional indemnity against gym owner. It is important for every fitness professional or trainer to buy the gym liability insurance policy. Defence cost and settlement cost will be covered under gym and health club insurance.