What Coverages Do Health and Fitness Insurance Policies Come With?
Businesses can usually customize the coverages contained in health and fitness insurance policies, so the exact mixture of protections provided can vary from one policy to the next. Nevertheless, there are a number of liability and property protections that many clubs choose to get.
Some commonly chosen liability protections are:
Some of the more commonly selected property protections include:
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Tenants Betterment Coverage, which normally covers improvements made in a leased space
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Building Coverage, which normally covers company-owned buildings
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Contents Coverage, which normally covers equipment, supplies and gear
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Equipment Breakdown Coverage, which normally covers equipment malfunctions
Do Health and Fitness Insurance Policies Include Workers Compensation?
Although most health clubs and similar businesses in Massachusetts have employees and need workers compensation coverage, this protection frequently isn’t found in health and fitness policies. Instead, it’s often purchased by itself through a separate policy. Insurance agents who assist with health and fitness policies usually can also help with workers compensation policies.
Do Sports and Fitness Policies Cover High-Risk Activities?
Gyms and other businesses that have members participating in high-risk activities ought to speak with a knowledgeable insurance agent. An agent who’s familiar with these types of policies will be able to recommend an appropriate way to insure against the perils that offering a particular high-risk activity presents.
How Much Do Sports and Fitness Policies Cost?
Insurance companies take into account multiple factors when setting rates for sports and fitness policies, so premiums range from one policy to the next. A business’ location, the value of its physical assets, the number of members it has and the activities it offers all might influence how much insurance costs.
An independent insurance agent can provide an accurate overview of how much insurance will cost a particular business. Independent agents are able to request quotes from multiple insurance companies, which makes it easy to see how much different insurers would charge a business for various combinations of coverages.
How Can Businesses in Massachusetts Get Sports and Fitness Insurance?
For help finding a sports and fitness insurance policy that suits your Massachusetts business, contact the independent insurance agents at The Feingold Companies. Our agents have helped many health clubs and similar businesses secure insurance, and they have the expertise necessary to find the right policy for your business as well.
