Gym Insurance & Fitness Studio Insurance: Cost & Quotes From $11

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Maintaining a comprehensive studio and gym insurance policy is essential.  All it takes to ruin your business is for one student to get hurt in your class. Without gym liability insurance coverage, you could be forced to pay thousands from your own pocket for claims. 

We’ll break down the different types of gym insurance policies that you’ll be able to purchase and explain how they work. Then, we’ll show you some gym insurance costs, so you have an idea of how much to invest. 

Also read: Sports Team Insurance for Youth & Adult Clubs

Gym and Fitness Business Insurance: The Basics

Carriers offer tailored gym insurance and fitness center insurance that fits your needs as a gym owner or fitness studio owner. Protection begins with a standard liability insurance policy. 

Liability insurance, included in fitness studio and small gym insurance,  protects you from third-party claims that could cost millions. If your gym or studio is responsible for something that happened to a third-party, liability insurance will see to it that you don’t spend a single penny for wrapping things up.

Also read: Sports Facility Insurance: Cost & Quotes From $11

Gym Liability Insurance

There are several different types of liability insurance that you should be aware of. Each is designed to cover different types of claims that your business could face. 

Public Liability Insurance for Gyms and Fitness Studios 

It is estimated that 459,978 people were injured while exercising or using exercise equipment in 2012. Public liability insurance is easily the most common type of insurance that gyms will need. This type of coverage protects your gym from personal injury claims or property damage claims clients, guests, vendors, and other third parties file. Here are some examples for you to understand how public liability insurance works in practice:

• One of your clients is using equipment without supervision. This client got injured while using the equipment. If this client files a claim and demands your business to pay for his pain and suffering, public liability insurance will take care of the expenses such as compensation, attorney fees, and other legal expenses

• An equipment of your business damaged the phone of a client. If the client demands reimbursement for his broken property, public liability insurance will pay on your behalf 

The protection public liability insurance provides for your business is very limited. There are other costly exposures aside from personal injury claims and property damage claims. With that said, if you want to have more protection, consider getting general liability insurance instead. 

General Liability Insurance for Gyms and Fitness Studios 

General liability insurance for gyms and fitness studios will also take care of personal injury claims and property damage claims just like public liability insurance. However, as its name implies, this insurance policy also takes care of other liabilities associated with your business operations. 

There are optional policies in general liability insurance your business can enjoy at an additional price. These optional policies are:

• Advertising injury coverage

• Rented premises liability coverage

Advertising injury coverage is an optional policy in general liability insurance that will cover attorney fees, other legal costs, and compensatory payments when a third party sues your business for reputational or advertising harm. The language of advertising injury coverage includes the following perils:

• Slander 

• Libel 

• False advertising 

• Copyright infringement

You’ll find rented premises liability coverage useful if you’re renting a commercial space for your gym or fitness studio. If fire damages the rented commercial space, general liability insurance will reimburse the property owner on your behalf. 

Professional Liability Insurance for Gyms and Fitness Studios

Professional liability insurance will cover costs if your business caused economic or financial loss to a client by committing acts constituting errors and omissions. The language of this liability insurance includes the following perils:

• Negligence

• Inaccurate advice

• Misrepresentation 

• Violation of good faith and fair dealing 

Other Types of Insurance for Gyms and Fitness Studios

Carriers don’t only offer liability insurance for gyms and fitness studios. Other useful insurance policies available are:

• Commercial property insurance

• Workers compensation insurance

• Abuse and molestation insurance

Commercial Property Insurance

Commercial property insurance sees to it that you won’t incur significant financial losses if something happens to the gym and fitness studio. These are the primary functions of commercial property insurance:

• If your gym and fitness studio is destroyed by fire or extreme weather, commercial property insurance will reimburse your losses up to the value of the destroyed commercial property stated in its terms 

• If your gym and fitness studio only incurred damage due to fire, extreme weather, theft, vandalism, and other covered perils, commercial property insurance will reimburse losses up to the value of the damages

In addition, commercial property insurance for fitness studios and gyms feature the following inclusions:

• Business equipment coverage

• Stocks and contents coverage

Your gym and fitness studio have valuable equipment such as treadmills, stationary bicycles, dumbbell sets, barbell sets, cable crossover machines, power towers, weight benches, and more.  When these become lost or damaged due to fire, theft, vandalism, and other covered perils, business equipment coverage will reimburse your losses. 

Your fitness studio and gym might be selling items such as drinks, milk proteins, gym apparel, etc.  The job of stocks and contents coverage is to cover your losses if these items get lost or damaged due to extreme weather, fire, vandalism, and other covered perils.

Workers Compensation Insurance

You need workers' compensation insurance if there are one or more employees working to provide customers with gym training services or fitness sessions. 

It’s your job to pay for treatment, hospitalization, rehab, and lost income compensation if an employee becomes injured or sick because of work. The job of workers' compensation insurance is to ensure that you don’t use personal funds or business funds when doing so. 

Workers' compensation insurance will pay for the employee's treatment, hospitalization, rehab, and lost income compensation on your behalf. Speaking of lost income compensation, the employee will receive a weekly allowance equal to two-thirds or 67% of the average weekly wage. This means that if the employee is earning $1200 per week, he or she will receive $804 as compensation for lost income. 

Will worker's compensation take care of things if an employee dies? The answer to this is yes. Workers' compensation insurance also provides death benefits. Specific death benefits workers comp provides are payment for funeral costs and allowance to dependents equal to two-thirds of the deceased’s average weekly wage. 

Abuse and Molestation Insurance

A client might claim to have been abused and molested by an employee of your gym and fitness studio.  Claims for abuse and molestation are expensive, typically ranging from $130,000 - $600,000 for damages.  Protect yourself from the costs with abuse and molestation insurance. Abuse and molestation insurance will cover defense costs and compensatory payments if a client decides to file a claim after experiencing any form of sexual harassment an employee committed. 

How Much Does Gym Insurance Cost?

On average, gym liability insurance cost $55 per month or $660 per year for a $1 million general liability coverage. To give you more idea about what to expect to pay for your gym insurance, we’ve put together a table with the average premiums charged by some of the top gym, fitness, and health club insurance providers on the market.

Different factors determine how much you’ll pay for gym insurance policy, including:

• The size of your gym

• What type of equipment is at your gym

• The city your gym is located in

• How many members you have

• Whether or not your gym offers childcare 

• Whether or not your gym offers personal training 

To get your personalized gym and fitness studio insurance quote, simply click the ‘Get Quotes’ button below, enter some information about your gym, and you’ll receive customized quotes from reputable small business insurance companies. 

How Much Does Personal Training Insurance Cost?

Personal training insurance or personal training studio insurance is more affordable than insuring an entire gym. Since you’ll be working one-on-one with clients or teaching group fitness classes, the risk of claims is significantly reduced compared to a large gym with hundreds of members coming in and out every day. 

The average cost of a $1,000,000/$2,000,000 general liability insurance policy for personal trainers is $12 per month or $144 per year. Here are the average rates charged by popular personal training insurance providers. 

Specialty Gym Insurance Rates

In the table above, we looked at the average rates of gym and fitness center insurance. Those figures assume that you’re operating a standard gym with a few dumbbells, treadmills, and some cable machines. 

What about if you own a specialty gym like boxing gyms, MMA gyms, or climbing gyms?. Below, we’ll go over the average rates of liability insurance for these specialty gyms. 

Boxing Gym Insurance Cost 

If you own a boxing gym, then you’ll have to pay extra as there's a higher risk of injuries. The same goes for martial arts gym insurance and MMA gym insurance as well. The average cost for martial arts studio, MMA, and boxing gym insurance is $87 per month or $1,044 per year for a $1m general liability insurance policy. As always, your rates depend on the size of your studio, the number of members, location, and other risk assessment factors. 

Crossfit Gym Insurance Cost

Crossfit is a popular exercise style that incorporates aspects of powerlifting, high-intensity aerobics, plyometrics, and even acrobatics. Popular crossfit exercises often involve dangerous exercises like climbing 30-foot-tall ropes or jumping onto high boxes. While trainers may do their best to decrease the overall risk factor associated with crossfit training, there’s always a high possibility of bodily injury claims. 

That said, the average crossfit gym insurance cost is about $58.5 per month or $702 per year for a $1 million general liability coverage.  

Climbing Gym Insurance Cost

Climbing gyms are designed to give members the experience of rock climbing without having to take a trip to the closest mountain cliff. They typically feature large climbing walls, hard-to-maneuver obstacles, and may include additional training equipment. Unfortunately, while safety precautions are usually taken seriously, there’s often a possibility of equipment malfunction or dangerous slip-and-fall accidents that can result in broken bones or even death. 

The average climbing gym insurance cost is $72 per month or $864 per year for a $1 million general liability coverage.