Taking care of the not-so-obvious
Running a fitness center is no small feat due to the constant management of contract employees, members, front desk agents, maintenance staff and the like. Collecting member dues and keeping your numbers up is probably one of your greatest concerns, but you also have major risks that you need to manage in order to survive.
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The 5 Hidden Risks
Studies have shown that nearly 60% of businesses are underinsured, leaving them vulnerable to significant losses in the face of natural disasters. Protect your fitness club by investing in adequate health club insurance coverage and having a set recovery plan in place to minimize your risk for total loss.
Accidents happen every day – explosions, violent acts, outbreaks of disease such as Legionella. These incidents can significantly impact both your finances and your reputation. Speak with your insurance agent and make sure that your business is adequately covered for catastrophic liability and property losses.
You store a lot of member data on your computer system: birthdays, home addresses, and even credit card numbers are kept on file. Did you know that nearly half of all businesses have experienced a data breach? However, only one in 10 of those businesses are covered for cyber liability. A Cyber Risk policy should protect your fitness center from client data breaches in the event that negligence on the part of your company is determined to be the cause of breach.
Personal trainer liability
If your fitness facility employs personal trainers, you may be liable for their negligent behavior, even if they’re only contract employees. Sexual harassment, physical injury, even poor dietary advice can result in a lawsuit against your company. It is safest to require your contract trainers to carry their own General Liability/Professional Liability policies. However, some fitness facilities choose to add coverage for contract trainers under their fitness facility policy.
You see them all the time. One of your clients will be running on a treadmill, nose in a book, texting, or bobbing along to their iPod. Such multitasking often leads to injuries for which you are likely to be liable. The average cost of any treadmill-related incident is $250,000.
Protecting your fitness facility from injury claims
Did you know that Fitness Center Insurance is critical for all health clubs and gyms? It only takes one injury-related lawsuit to financially ruin you and or your business. Having the right insurance protection offers you peace of mind.
Getting the right insurance coverage does not have to be complicated if you work with an agency like SADLER. The insurance experts at SADLER understand your needs and the unique risks associated with your fitness facility. If you would like to learn more about liability prevention or are ready to get a customized insurance quote, simply apply online now or call 800-622-7370.
There are absolutely no obligation or commitments, and your quote will be sent in just a few hours in most cases. With no application fees and the most competitive rates in the industry, you’ve got nothing to lose!