Fitness is an integral part of everyone’s health and the market is currently saturated with more fitness facilities than ever. Going just a few miles down a busy street, you might see 10 or more fitness centers. They vary in shape, size, and methodology, but they all have one thing in common aside from health – they need insurance!
If you thought you only needed medical and car insurance, you are wrong. Every time you have a special event or if you run a business, having an insurance cover is a must-have.
As a gym owner or manager, you have a lot of decisions to make and people and property to take care of on a daily basis. One of the decisions you need to make is about the level and type of business insurance that you need. You don't want to overspend and get the coverage you don't need, but you don't want to come up short when something happens.
Running a gym is a dream job. You get to stay active and make money doing what you love, and you provide a service that makes customers feel great. The liability side of the business can feel a bit closer to a nightmare sometimes though. Gyms can be risky places even with the best safety policies in place. These risks threaten the people that make[...]
Your top priority as a gym or fitness club owner is your gym members' wellness and health. You and your staff push your clients into becoming the best versions of themselves. However, can you say the same about your business, especially when it comes to insurance coverage?
Insuring your gym equipment and other assets is a sound business and risk management strategy. Insurance passes the risk of damage or loss to property and equipment from your gym to your insurance company. It gives you a safety net that helps reduce the financial impact of damage and loss of expensive fixed and movable equipment.
Unless you have been hiding under a rock for the past month, you are aware that Texas was hit with an expansive winter storm, covering the entire state in snow, and setting record-low temperatures. Inadequate winter infrastructure and frozen pipes resulted in not only a lack of running water, but also burst pipes and water damage. Yikes!
As a gym, fitness, or health club owner, you face more risk than other businesses because your primary operations include engaging clients in strenuous exercise every day. While your top priority is your clients' health, wellness, and fitness, you also have the responsibility of taking care of your staff and business.
Business insurance can be a source of apprehension for many gym owners. The additional costs of insurance coverage can add up quickly and be a significant portion of your monthly business expenses. However, in gym ownership, insurance cannot be considered a luxury. It is a vital component to ensure your business runs smoothly and is prepared for[...]
One of the most important things you can do to protect your business is purchase liability insurance as a gym owner. Liability insurance protects the property, owner, client, and employee level. However, most insurance companies will want to see a copy of your business license before purchasing liability insurance at the customer level.