What Is Gym Insurance?
Gym Insurance is specialist cover for all types of health and fitness businesses. A gymnasium provides a unique blend of risks from public liability covering your legal liability for injury or damage to property from customers or other members of the public, employers liability for staff or fitness trainers, as well as other covers options such as fitness equipment and other contents.
Do I Need Insurance for my Gym?
The only compulsory area of cover required when operating a fitness centre is liability cover in respect of injury to any employees. If you have any full or part time staff you are legally required to purchase a minimum of £5m Employers Liability Insurance or you could face a fine of up to £2,500 per day.
Whilst you are not obliged to purchase other cover, failure to protect against risks such as public liability and fire or flood damage to contents and equipment can leave you and your business severely exposed.
Compare Gymnasium and Fitness Centre Quotes
Health and fitness centres come in all shapes and sizes from exercise classes to more traditional free weight facilities, which is why our gym insurance policies can be tailored to your specific individual requirements.
Your dedicated insurance advisor will help you assess your individual risks and build a policy which meets your needs and your budget.
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Gymnasium Claims Example
A stand housing a range of dumbbells collapsed onto a gym member’s foot breaking several bones. The gym owner received a compensation claim including significant loss of earnings as the claimant, a self employed HGB driver, was unable to work for 6-weeks.
How Much Is Insurance for a Gym?
The cost of business cover for a gymnasium or fitness centre is driven by the type of activities being undertaken, the number of members, trainers and staff as well as the business location (post-code), value of contents and/or fitness equipment and level of additional cover required.
Package premiums can start from as little as £250 (plus insurance premium tax) for small single location centres.
How Much Public Liability Cover Do I Need For a Gym?
Whilst Public Liability Insurance limits start from £1m, it is generally recommended that the minimum limit required for a gym would be £2m.
Obviously each business is different and you should consider the size and scale of the gymnasium as well as the number of members and their general demographic. For example, if you specialise in 1-to-1 training for sports professionals or movie stars your risk is significantly higher!
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