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With over 6.5 million gym goers in the UK, having the right sports insurance in place gives you the peace of mind that you are covered if an unexpected accident happens. Whilst arranging insurance should be an important consideration, it’s also important to ensure that your induction procedures, equipment maintenance programmes and adequate record keeping measures are up to date. Not only will this help keep the cost of your insurance down, but it will also help your insurers defend a third party allegation that you have been negligent.
We are here to help you find the right cover to fit your business, trimming the cost off your next policy could be the best pounds you have lost!
Running a gym is not easy and you want to be covered for any possible eventuality whether it’s a broken machine, an injured customer or a flood in the building. We are able to offer different types of gym insurance and unlike other insurers, we are able to put all of these under the same policy so there is less administration and you can save money at the same time. The types of cover available include:
Public Liability: This policy aims to cover you if any member of the public or a customer is hurt or injured on your premises. In a gym environment, this could involve a machine malfunctioning and hurting a customer, heavy weights falling on a gym-goer or perhaps a client slipping on a wet floor. If the victim believes that you were liable for the accident and it could have been avoided, they may take legal action and sue you for damages, compensation and medical fees.
Depending on your gym business, you are able to take out up to £10 million worth of public liability cover which is based on the size of your premises, number of customers and potential risks. However, if you are involved in a public liability claim, your insurance will be able to pay for any compensation to the victim and any legal fees you incur.
Buildings: As your gym is premises-based, it is important that the state of the building is in good shape so customers get value for money and can work out in a safe environment. In the event of vandalism, fire or flood, your buildings insurance will be able to pay for any vital repairs and replacements to get your fitness centre in its best shape. Your insurance will cover things like fittings, floors and fixtures but not replace anything that is old or worn due to wear and tear.
Contents: Insuring your contents is a vital part for any gym because customers rely on using your equipment such as matts, gym balls, power plates, medicine balls, resistance bands, dumbbells and of course, machines.
In case any of your vital equipment is damaged, vandalised or stolen, you will be able to replace these immediately by purchasing news ones and your insurance will reimburse you. It is important to have a clear record and valuation of all your contents so that you can claim effectively. As part of your policy, you will be able to select the amount of contents cover you require, with higher premiums for the more cover you need.
Employers Liability: Compulsory by law, businesses that have employees other than family members are required to have insurance in place to protect their staff. So if a gym employee is injured or seriously ill due to your business procedures, they can receive compensation from their employer, including sick pay.
This type of liability is essential for all types of employees whether they are full-time, part-time, contractors or on work experience. Given that it is an active environment and a lot of people coming in and out, it is important to have the right level of cover in place to protect your workforce.
Business Interruption: Whether there is a flood, fire or broken equipment, business interruption is able to reimburse you for any loss of earnings. Your gym membership fees are obviously a crucial part of your business and following damage to your premises should your business be closed for even a short period of time, there will be an inevitable loss of revenue. With this extension of cover, you will still able to maintain a healthy bank balance and pay your staff without any financial concerns.
For yoga instructors, Pilate’s instructors and related fitness professionals without their own premises, perhaps Public Liability insurance is all that you need and our online Public Liability quotation facility would be more suitable for you.
If any part of your activities involves providing advice to your members, it is also worthwhile ensuring that you have Professional Indemnity insurance in place. If you are a personal trainer please visit our Personal Trainer Insurance page.
Whatever your insurance requirements our friendly advisors are ready to help. Why not give us a call today and see how we can help you.
To receive a quote today, simply call us on 0333 999 0802 and you will put through to one of our friendly advisors. We are passionate about helping businesses of all sizes to find the best cover for them. Rather than applying with just one insurer, we have partnered with some of the leading insurers in the country so that we can provide you with competitive quotes and deals to suit your needs.
So whether you have a small gym or several fitness centres, we will see how we can get you the best cover at the most affordable price. If you prefer, you can complete an online form here and one of our team members will get back to you as soon as possible.