If you’re planning on opening a work out space, health club, fitness studio or gym somewhere in Canada, getting adequate insurance protection should be one of your top priorities. Your location can provide many services to customers, including free weights, workout equipment, fitness classes, a swimming pool, yoga, massage and personal training sessions as the concept of a “gym” has definitely changing. Regardless of the activities and scope of services there are risks of injuries, property damage, building damage, theft, and numerous other risks.
With a health club insurance policy from ALIGNED, your health club stays protected against the risks of running a health club that you want to insure.
Why is Health Club Insurance Important?
Running a health club is hard work. You’re responsible for cleaning and maintaining gym equipment, pools, hot tubs, steam rooms, saunas, fitness studios, locker rooms, and more. Your health club is ultimately creating an environment and delivering an experience and you don’t need or want the distractions and financial consequences from claims which insurers can support you through like:
- A customer is injured during a workout class or in the locker room.
- A customer’s very expensive piece of personal property is damaged in your health club.
- An employee steals fitness equipment or money from the cash register.
- A fire or flood partially destroys your health club forcing it close. The damage needs to be repaired and revenue is impaired while you are trying to reopen.
Other risks could cause substantial financial loss for your business. Even one claim or complaint could result in a negative cash flow or even bankruptcy. A comprehensive health club insurance policy helps mitigate the financial risks of operating a business by ensuring you’re protected in the event of a claim.
What Does Health Club Insurance Include?
Commercial General Liability Insurance – Also known as CGL insurance, commercial general liability insurance provides coverage for third-party bodily injury and property damage arising from the operations of your business, regardless of where and how you operate. For example, your health club is covered for medical, legal, and settlement award expenses if a customer injures themselves in a locker room slip-and-fall accident.
Commercial Property Insurance – This is important if you operate a studio, but it can also protect any equipment you rely on to operate. Commercial property insurance protects your property from damages and losses resulting from theft, fires, lightning, earthquakes, floods, windstorms, etc. It ensures that your studio’s replacement and repair costs and equipment are covered as well as lost revenue due to forced shutdowns due to insured perils.
Professional Liability Insurance – If you provide services for a fee at your health club, like personal training, physiotherapy, massage, chiro etc. you likely are contracting that to licensed professionals who you should require to carry their own professional insurance. However, most claims against the service provider also name the facility/entity in which the service were received and if professional liability insurance for health club’s legal entity isn’t purchased you could be pulled into and responsible for significant claims.
Cyber Liability Insurance – You rely on technology to operate your website, payment systems, and other necessities. Hackers can steal your or your clients’ information, close your payment system, shut down your website, etc. Cyber liability insurance covers the cost of data recovery, legal fees, hardware replacements, ransomware fees, business interruptions, etc.
Find the Right Health Club Insurance with ALIGNED
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