Types Of Club Liability Insurance Coverages

Types Of Club Liability Insurance Coverages If you are the owner of a fitness club it is important to not only invest time and energy into creating beneficial services and investing into high-quality commercial machinery, you must invest in a comprehensive insurance portfolio. While you will need to protect your investment by insuring the premises you own or rent as well as the contents of the building, you will need to also obtain club liability insurance. Health clubs are seen as high-risk exposures for claims to insurers. Because of this, you will need to find a commercial insurer that specializing in taking on this high level of risk. Comprehensive health club insurance plans can be customized and tailored to your needs depending on the size of your health club, the revenue, the amount of members you service and the services you provide to the public on and off-site.

While most licensed fitness clubs are required to carry general liability insurance, many club owners have no idea of the terms of the policy in which they are investing. Building and crafting a health club takes a lot of time, money and effort. To ensure your interests are protected and you will not go bankrupt from one damaging claim, it is important to educate yourself on exactly how club liability insurance works. Not only are your coverage limits important, understanding what is covered and what is specifically excluded in your insurance plan will keep you up to date. Always keep in mind a health club liability insurance plan is only as good as the insurer who offers it. Only obtain insurance from financially stable and respectable companies who are known to provide excellent coverage options and customer service to policyholders.

Understand what areas and services of your fitness club are insured. While some basic policies will provide aerobics, cardio and weight lifting equipment coverage, there are endorsements to include liability coverage for swimming, Jacuzzi, suntan booths, courts, group exercise, Pilates, yoga and many other areas depending on what you have on your premises.

General liability coverage is provided on a per occurrence and annual aggregate limit. Per occurrence limits range between million and million dollars and will protect you against negligence claims for which your club or employees may be liable. An aggregate limit is the maximum amount a liability policy will payout on an annual basis. Other coverages include miscellaneous professional liability for health clubs, personal injury liability resulting from damages caused by libel or slander, sexual abuse liability, and products liability.

It is important to review all of the endorsements available to you. Because club liability insurance is very complex, it is recommended to sit down with an experienced agent and discuss your options. By going through policy plans you will tailor a policy that keeps you fully protected against unfounded and legitimate claims.

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