Operating a gym or fitness center comes with a significant amount of risk exposure, and that exposure includes both liability and property risks. Gym insurance policies help protect gyms located in Massachusetts from many of the various risks that they face.
Gym insurance is a specialized type of commercial insurance that’s uniquely tailored to meet most of the insurance needs that gyms have. In order to meet multiple needs, most policies are package policies that combine several insurance coverages together. Gyms can often choose from standard and available coverages to get a policy that suits their particular situation.
Fitness club insurance often makes sense for fitness-focused businesses that offer members a palace to exercise. Some specific Massachusetts businesses that might want this type of insurance include:
There may be some other businesses in the exercise industry that also could benefit from having a fitness club policy.
Precisely what coverages are included in a fitness club insurance policy can vary, but there are several common ones that most policies at least make available as optional protections (if the coverages aren’t standard protections). Many of these common coverages are either liability protections or property protections.
Liability protections normally protect a gym against claims and lawsuits that could arise if the gym is responsible for property damage, personal injury or some other form of harm that affects another party. Some of the more common liability protections that these policies typically offer are:
Property protections normally protect the physical assets that a gym has. These protections usually offer coverage against theft, fire, storms and similar perils (depending on the coverages’ terms). Some of the more common property protections that fitness club policies make available include:
All of these coverages come with their own terms and conditions that stipulate exactly what protections are provided. An insurance agent who specializes in fitness club insurance can explain coverages in more detail.
Gym policies may or may not provide coverage for contact sports and high-risk activities. Gyms and fitness clubs that need coverage for these sports and activities should work closely with a knowledgeable agent to find an insurance policy that will cover the various activities that members participate in.
If you need help insuring a gym that’s located in Massachusetts, contact the independent insurance agents at The Feingold Companies. Our agents can show you policy options from several different insurance companies, and they have the expertise necessary to help you select a gym insurance policy that provides the coverages your particular facility needs.