Sports And Fitness Insurance Programs For Fitness Centers

If you are the owner of a local fitness club, it is required that you carry sports and fitness insurance to satisfy state and licensing laws. With a number of different insurance types available including: aerobics insurance, health club insurance, pilates studio insurance, yoga studio insurance, day spa insurance, fitness liability insurance, circuit training insurance, and exercise studio insurance; it is important to educate yourself on the difference of each policy to understand which endorsements or policies you will need to invest in to protect your business. Below is a description of various types of sports and fitness insurance policies. Find a program that meet your needs and company that is recognized in the industry and rest assured you are covered against a variety of different exposures that could be financially damaging.

Health Club Insurance Programs

A health club insurance policy is designed to meet the needs of US-based health clubs with annual sales of 0,000 or less. The programs and services the health club offers can vary and include: aerobics, personal training, yoga, pilates, free weights, circuit training, resistance machines, cardio machines and a variety of different evening and daily exercise classes.

Policies offered in this range may also limit the total square footage of the fitness club. Most policies will require clubs to be less than 3000 square feet to be eligible for a health club insurance program. Policies will provide both on-site and off-site coverage that is stipulated in the policy provisions. On-site coverage applies to instruction activities of the club owner and employees at the insured location only. Off-site coverage options will extend to cover training classes provided at other locations listed on your insurance declarations.

A health club policy will include a variety of different coverage options that are subject to a general aggregate. General aggregates refer to the maximum amount an insurance provider will payout on an annual basis no matter how many claims are filed. It is important to choose a per occurrence and general aggregate limit that is adequate to protect your club from harmful claims.
Sports and Fitness insurance will cover personal and advertising injury, legal liability to participants, professional liability, damage to premises rented to you, medical expenses, and professional liability of independent contractors.

Most plans will also include endorsements to cover fitness equipment and business owners must determine whether the policy pays on a replacement cost basis or actual cash value valuation. Replacement cost policies will pay to replace the fitness equipment at the current time whereas actual cash value will factor in depreciation.

All industries require insurance to operate a business. It is essential for fitness club owners to educate themselves on the types of plans that are available to them. Because there is a high risk of claims associated in a health club, premiums may be higher than other types of insurance. Contact a reputable insurance broker to learn more about sports and fitness insurance plans.