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Gym & Fitness Equipment Insurance: Cost & Quotes From $11/mo

The equipment you own as a personal trainer, fitness instructor, or gym owner is valuable and requires security because your business can't continue to run without them.

Gym equipment insurance pertains to several policies that are specifically designed to cover workout equipment of fitness instructors and gym facilities. You can use this to compensate the third party who sustained injuries after using workout equipment. This will also cover repair or replacement expenses.

Insurance companies include gym equipment policies in crossfit insurance programs and other related insurance products. This guide will talk about how each type works, the cost of premiums, and the best companies.

Types of Gym Equipment Insurance Policies

The different types of gym equipment insurance policies are general liability, inland marine, tools and equipment, commercial property, product liability, and marine cargo insurance. The sections below discuss how each works.


Gym Equipment General Liability Insurance


CoverWalletNEXT (Best)ThimbleHiscox
Per occurrence limit$1,000,000$300,000/$1,000,000$1,000,000/$2,000,000$300,000/$2,000,000
Aggregate limit$2,000,000$1,000,000/$2,000,000$1,000,000/$2,000,000$300,000/$2,000,000
Products and completed operations aggregate limit$2,000,000
$1,000,000$1,000,000$1,000,000
Advertising injury coverage aggregate limit$1,000,000$1,000,000$1,000,000$1,000,000
Tenant’s legal liability coverage limit$100,000
$100,000$5,000$100,000
Waiver of subrogation included?YesNoIncludedCan be included
Hired/non-owned auto liability coverage included?YesNoExcludedCan be included
Equipment breakdown floater included?NoYesYesCan be included
Can you get a certificate of insurance online?YesYesYesYes
Name additional insureds?YesYes
YesYes
Deductible$0$0$0$0


A general liability policy can be used as a fitness equipment insurance because it can cover your liability for the use of defective equipment in the gym or any other fitness facility you operate.

To be clear, this insurance can help take care of costs if a poorly maintained or defective gym equipment injures its user or causes property damage. Use the table above to see which insurance company offers the best general liability insurance for gym equipment.


What Costs Does General Liability Insurance Cover?

You can use general liability insurance to cover the following expenses each time a third party files a claim after sustaining injuries or property damage because of a gym equipment you own:

  • Medical treatments

  • Reimbursements for property damage

  • Settlements

  • Court judgments


Can General Liability Insurance Cover the Damage or Destruction of My Gym Equipment?

Yes. A business equipment coverage can be added as an optional policy to general liability insurance. This will cover repair or replacement expenses in case theft, vandalism, and other covered peril happens.


Gym Tools and Equipment Insurance


NEXT (Best)ThimbleHiscox
Aggregate limit$3,000/$10,000$2,500/$5,000$15,000/$25,000
Covers hired and borrowed equipment?$3,000/$10,000$2,500/$5,000No
Miscellaneous equipment also covered?$5,000/$10,000NoYes
Offered as an endorsement to general liability insurance?YesYesYes
Deductible$500$500$0


Tools and equipment insurance allows you to cover the damage or destruction of gym equipment. Coverage applies regardless of where this happens. Tools and equipment insurance is available as a stand-alone policy or as an add-on to general liability insurance.

You can use tools and equipment insurance if gym equipment needs to be replaced or repaired due to theft, fire, vandalism, mechanical breakdown, electrical surge, and electrical shorts. Use the table above to see which insurance company offers the best gym tools and equipment insurance.


Does Gym Tools and Equipment Insurance Cover Rented Pieces?

Yes, gym tools and equipment insurance comes with rental coverage. It may even be possible for you to name the owner of the gym equipment as an additional insured.


How Much Coverage Can You Get From Gym Tools and Equipment Insurance?

A stand-alone gym tools and equipment insurance provides $50,000-$100,000 coverage. An optional gym tools and equipment insurance, which is usually included in general liability policies, has a $2,500-$25,000 limit.

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Commercial Property Insurance for Gym Equipment


CoverWalletNEXT (Best)ThimbleHiscox
Building coverage limit (minimum)$50,000$170,000$25,000/$500,000$25,000
Contents coverage limit (minimum)$50,000$18,000$25,000/$500,000$15,000
Outdoor signsExcluded$2,500ExcludedIncluded
Accounts receivable ExcludedExcluded$5,000/$10,000Included
Money and securitiesExcluded$2,500$1,000Included
Lock and keys Excluded$2,500ExcludedIncluded
Business interruption floaterExcludedIncludedIncludedIncluded
Equipment breakdown floaterExcludedIncludedExcludedIncluded
Inland marine insurance floaterExcludedExcluded$10,000Excluded
Employee dishonesty floaterExcluded$5,000$2,500Excluded


You might only think of purchasing commercial property insurance to insure the building of your gym or fitness facility. Well, you might want to reconsider. 

The majority of insurance companies nowadays include contents or inventory coverage in their commercial property insurance. 

This contents or inventory coverage allows commercial property insurance to cover the value of workout equipment, so long as they got damaged or destroyed while on the premises of your gym or fitness facility. 


What Perils Does the Contents Coverage of Commercial Property Insurance Cover?

The contents coverage of commercial property insurance will reimburse the value of gym equipment that gets destroyed or damaged because of fire, theft, vandalism, and other covered perils.


Business Owner’s Policy 


CoverWalletNEXT (Best)HiscoxThimble 
General liability aggregate limit $2,000,000$500,000/$2,000,000$300,000/$2,000,000$1,000,000/$2,000,000
Commercial property coverage limit $50,000$170,000$25,000$25,000/$500,000
Optional policies can be added?YesYesYesYes
Name additional insureds for free?YesYesYesYes
BOP discount?YesYesYesYes


You can bundle your general liability and commercial property insurance into a business owner’s policy.

A business owner’s policy is an insurance product that you can use to cover liabilities arising from injuries or property damage caused by your gym equipment. It will also cover the value of gym equipment and your gym facility’s building.

The best thing about a business owner’s policy is that it can be added with other types of gym equipment insurance policies such as inland marine or marine cargo insurance. 


Inland Marine Insurance for Gym Equipment 

Inland marine insurance protects portable gym equipment during transit. 

This is useful if you’re about to send a large batch of gym equipment to a buyer through the local shipping company. It’s also practical to have this insurance if you’re a personal trainer who owns a lot of portable gym equipment. 

Inland marine insurance will cover costs if fire or loss happens due to fire, theft, vandalism, negligence, lightning, mysterious disappearance, and vehicular accidents while the gym equipment is being transported through a land vehicle. 

You can purchase inland marine insurance as a stand-alone policy or add-on to commercial property and general liability insurance.


Product Liability Insurance for Gym Equipment

Product liability insurance can be used as coverage for gym equipment that you’re selling as an instructor, gym facility, or gym supplies center. 

Buyers can run after you if the gym equipment they’ve bought caused injuries due to defects or incorrect labeling. The job of product liability insurance is to cover this exposure. With this insurance, you can cover the costs for:

  • Medical treatments

  • Property damage reimbursements

  • Legal defense

  • Court judgments

  • Product recall


What Are the Usual Limits of Product Liability Insurance?

Insurance companies offer $1 million-$2 million product liability insurance. You will find this automatically included in the general liability policy for your gym equipment. 


Other Types of Insurance to Consider Getting

Gym equipment insurance might not be the only insurance you need as a business or professional in the fitness industry. That said, consider investing in these other insurance policies. 


Professional Indemnity Insurance 

Professional indemnity insurance for gyms and fitness facilities is a policy that protects the business if a customer suffers an injury or loss as a result of the negligence, misconduct, recklessness, mistakes, or errors of the gym or fitness facility staff. 

This coverage can help protect your business from costly lawsuits and the financial implications of being mentioned in a lawsuit. 

Also known as errors and omissions (E&O) insurance, professional indemnity coverage caters to costs, such as legal fees, compensation for lost wages or other damages, and any settlements or judgments.


Workers Compensation Insurance

Workers compensation insurance for gyms and fitness equipment protects professional gym and workout facilities from losses if employees are injured or become ill due to their job. This type of insurance is mandatory for employers who have employees. It typically covers medical expenses, lost wages, and compensation for disability or death. 


Cyber Liability Coverage

Cyber liability insurance protects gym and fitness businesses against financial losses and liability arising from data breaches and cyber-attacks. 

As many gyms invest in mobile apps that require consumers to sign-up and provide sensitive information, you're exposed to the risk of data breaches and cyberattacks. 

Cyber liability insurance for gyms typically covers a wide range of costs that can be incurred as a result of data breach. These can include:

  • Legal and regulatory costs-This can include the cost of defending against lawsuits and regulatory investigations, as well as fines and penalties that may result from a data breach

  • Notification and credit monitoring costs–You must notify your clients whenever there's a breach of the confidential information you have about them. Notifying them comes with its costs as well as the expenses of providing credit monitoring services to those customers

  • Business interruption costs-This can include the cost of lost business income due to a cyber-attack or data breach

  • Data recovery costs–These are costs you incur for restoring or recovering data that has been lost or stolen in a cyber-attack

  • Public relations costs–Falling victim to a cyberattack dents your gym's reputation. Recovering from such a setback may require hiring a public relations (PR) firm to mitigate reputational damage resulting from a data breach. As usual, you'll need to pay for the service

  • Cyber extortion costs–Extortion costs can include the money you pay after a hacker requires a ransom so they can send you the code to recover your data

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Gym Equipment Insurance Cost


Cost per MonthCost per YearDeductible
General liability insurance$31$372$0-$500
Tools and equipment insurance$44$528$500-$1,000
Commercial property insurance$40$480$1,000-$2,000
Inland marine insurance$35$420$1,500
Marine cargo insurance$38$456$1,000


The average gym equipment insurance cost is $31 per month or $372 per year for a $1 million general liability policy. The cost of gym equipment insurance can vary widely depending on various factors, including:

  • Type and value of the equipment

  • Location

  • Size of the business

  • Level of coverage desired

  • The types of physical activities you provide


Here’s another table that shows how much the recommended companies charge for a $1 million general liability policy for gym equipment: 


Cost per MonthCost per YearBest for
NEXT$18$216Best overall; Fastest general liability insurance for gym equipment
CoverWallet$21$252Comparing gym equipment insurance quotes online
Tivly$25$300Comparing gym equipment insurance quotes over the phone
Thimble$27$324On-demand coverage for gym equipment
Hiscox$28$336Gym equipment insurance policies that automatically renews every year
The Hartford$36$427Quick payouts on gym equipment insurance
K&K$40$480Gym equipment insurance for gyms with childcare

Compare Cheap Gym & Fitness Equipment Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Best Gym Equipment Insurance Companies

There's a large pool of providers offering business insurance to various industries. But your gym business faces unique risks which can only be covered by a company that provides industry-specific policies. 

Here are the best gym equipment insurance companies. The reviews below talk about their pros, cons, and cost of a $1 million general liability policy. 


NEXT Gym Equipment Insurance

Pros

  • Best overall

  • Issues an online proof of insurance instantly

  • Fastest general liability insurance

  • Great customer service and reputation

  • Excellent rates

  • Outstanding value for money

  • Get a 10% discount if you buy two or more policies

Cons

  • Couldn’t find any 

Insurance products from NEXT that can be used to cover gym equipment are tools and equipment insurance, general liability,  and commercial property insurance. 

The general liability insurance of NEXT grants a $300,000-$1 million worth of coverage in case someone gets injured or sustains property damage while using your gym equipment. 

NEXT’s tools and equipment insurance is available as an optional add-on to its general liability insurance. This has a $3,000-$10,000 limit. Rented, leased, and borrowed gym equipment are covered aside from the pieces you own. 

The amount of coverage your gym equipment can get from this company’s commercial property insurance will be based on how big your fitness or gym facility is. For example, a 500 square meter gym or fitness facility will receive an $18,000 contents coverage for gym equipment. 

Best for: Best overall; Fastest general liability insurance for gym equipment

Average cost: $18 per month

Our rating: 10/10


CoverWallet Gym Equipment Insurance

Pros

  • Compare quotes online

  • Cancel a coverage anytime

  • Easy online policy management

  • Agents are instantly available if you need help

Cons

  • Not an insurance company but an insurance broker 

CoverWallet is an insurance broker that allows you to compare numerous of gym equipment insurance quotes. Policies you can avail from this company are general liability, equipment breakdown, marine cargo, inland marine, and commercial property. You can also get in touch with a representative to avail other insurance products aside from gym equipment insurance policies. 

Best for: Comparing gym equipment insurance quotes online

Average cost: $21 per month

Our rating: 10/10


Tivly Gym Equipment Insurance

Pros

  • Responsive customer service

  • A partner of many insurance companies

  • Compare quotes over the phone

Cons

  • You need to call to get a quote 

Tivly sells inland marine, marine cargo, equipment insurance, and commercial property insurance for gym equipment. Your equipment policy from this company provides up to $50,000 worth of coverage. To know the limits of other policies and compare quotes over the phone, you need to call and talk with a Tivly representative

Best for: Comparing gym equipment insurance quotes over the phone

Average cost: $25 per month

Our rating: 10/10


Thimble Gym Equipment Insurance

Pros

  • Commercial property insurance offers up to $500,000 worth of coverage for gym equipment

  • On-demand coverage

  • Quickly issues an estimate of your rates 

Cons

  • You can’t reach customer service by calling

Thimble offers general liability, tools and equipment, and commercial property coverage for gym equipment. 

This company’s general liability policy has a $1 million-$2 million per occurrence limit. This can be customized and added with optional tools and equipment coverage with a $2,500-$5,000 limit. 

Thimble’s commercial property insurance is very comprehensive. It grants $25,000-$500,000 worth of coverage for your gym equipment. But note that this isn’t available as a stand-alone policy. 

Best for: On-demand coverage for gym equipment

Average cost: $27 per month

Our rating: 9/10


Hiscox Gym Equipment Insurance

Pros

  • Automatic policy renewal

  • Fast to process claims

  • In-house team of adjusters

  • 5% discount if you buy two or more policies

Cons

  • Poor customer reviews on BBB

Hiscox covers your gym equipment with general liability policy and tools and equipment insurance. This company’s general liability insurance has a $300,000-$2 million limit. On the other hand, the tools and equipment coverage is sold as an add-on with a $15,000-$25,000 limit. 

Best for: Gym equipment insurance policies that automatically renew every year

Average cost: $28 per month

Our rating: 9/10


The Hartford Gym Equipment Insurance

Pros

  • A well-established and financially stable insurance company

  • The company offers a wide range of insurance products

  • The company has an extensive network of agents and brokers

  • The company has a strong reputation for customer service and claims handling

  • Company offers 24/7 claims reporting 

  • A+ (Superior) rating from A.M Best for financial stability

Cons

  • The company's rates may be higher than some other insurance providers

  • Not all businesses may qualify for coverage with The Hartford

  • Some customers may find that the company's online presence and customer service options are limited

The Hartford has been around since 1810, so it's a large insurance company providing a wide range of insurance products for independent contractors and brick-and-mortar fitness centers. It also provides business owner's policies (BOPs) that combine general liability coverage, commercial property insurance, and professional liability.  

It's an insurance company that works with a large network of agents and brokers. Therefore, you can be sure that you're getting insurance from an agent who understands the local market and the risks your gym faces. They'll explain to you what coverage policies you require and the pricing options for your business. 

Apart from that, the company allows customers to file insurance claims 24/7, and you can be sure that you'll get your settlement because the company boasts an A+ rating from A.M Best for financial stability. 

Best for: Quick payouts on gym equipment insurance 

Average cost: $36 per month

Our rating: 8/10


K&K Gym Equipment Insurance

Pros

  • A reputable insurer with a long history of providing insurance coverage to businesses

  • Specific insurance products for fitness and sports equipment

  • A large network of agents and brokers

  • The company has a strong reputation for customer service and claims handling

Cons

  • Insurance rates may be higher than some other insurance providers

  • Some customers may find that the company's online presence and customer service options are limited

K&K is an insurance provider that offers a range of insurance products for businesses, including general liability with add-ons like inland marine for your gym equipment. This policy is ideal for smaller businesses (your gym must be at most 3,000 square feet and have $2 million or less in annual revenue. 

Other insurance policies that the company provides are commercial property coverage and workers' compensation insurance. It's worth noting that K&K is an insurance provider that offers a wide range of products. It would be best to discuss with a local agent or broker to understand the particular coverage and pricing options available for your business.

Best for: Gym equipment insurance for gyms with childcare

Average cost: $40 per month 

Our rating: 8/10


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