Essential Club Liability Insurance Coverages Owning your own fitness or health club requires a large investment of time and money. If you have obtained the licensing required to open a fitness center, invested in quality commercial gym equipment, hired staff and leased a property suitable for the services you provide, the only thing left to consider is the type and amount of fitness club insurance you will carry. While most fitness club owners understand they must carry the correct form of commercial insurance to protect their interests in the building and the property, many are confused by the terminology used in club liability insurance coverage options. If you are comparing limits of liability and types of coverage that can be elected or excluded from your policy, it is important to have a basic understanding of what they cover. General Liability Insurance Commercial general liability insurance is the most basic form of business insurance and is designed to cover claims of bodily injury, physical injury and property damage. While general liability insurance is typically offered as a package with property insurance, it is important to investigate whether your club liability insurance is included in the property policy. Some insurers will sell this form of insurance separately due to the fact that health clubs are considered a high-risk type of business to insurance for liability claims.
General liability coverage is designed to pay for legal defense fees, judgments and settlements pertaining to a covered claim. Claims of wrongful doing or negligence will be investigated and even if the claims are found to be unfounded, all fees will be covered up to the limits listed on the policy. There are specific exclusions as to what is not covered within health clubs. For these exclusions other club liability insurance coverage will need to be purchased. Professional Liability Insurance Professional liability coverage varies from general liability as it is designed to cover acts of employees or independent contractors that are excluded from a general liability plan. If a club member is injured or financially harmed due to the recommendations or services offered by a personal trainer or professional staff member, they can file a claim against the entire company as it is a duty dealing with the services offered. Professional liability claims can be damaging if you do not carry adequate coverage. Be sure to include independent contractors on your policy if you utilize independent personal trainers who are not employed directly by you. Your business faces liabilities on a daily basis. Protecting yourself against these frequent exposures is essential to stay profitable and stay in operation. Consult a broker specializing in club liability insurance and discuss limits and coverage options. With the right insurance portfolio, you will have the peace of mind that you are protected. More Liability Insurance Articles
General liability coverage is designed to pay for legal defense fees, judgments and settlements pertaining to a covered claim. Claims of wrongful doing or negligence will be investigated and even if the claims are found to be unfounded, all fees will be covered up to the limits listed on the policy. There are specific exclusions as to what is not covered within health clubs. For these exclusions other club liability insurance coverage will need to be purchased. Professional Liability Insurance Professional liability coverage varies from general liability as it is designed to cover acts of employees or independent contractors that are excluded from a general liability plan. If a club member is injured or financially harmed due to the recommendations or services offered by a personal trainer or professional staff member, they can file a claim against the entire company as it is a duty dealing with the services offered. Professional liability claims can be damaging if you do not carry adequate coverage. Be sure to include independent contractors on your policy if you utilize independent personal trainers who are not employed directly by you. Your business faces liabilities on a daily basis. Protecting yourself against these frequent exposures is essential to stay profitable and stay in operation. Consult a broker specializing in club liability insurance and discuss limits and coverage options. With the right insurance portfolio, you will have the peace of mind that you are protected.
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