Insurance for the Health & Fitness Industry
Personal Trainer, Fitness Studio and Health Club Insurance.
Owning and managing a Fitness Studio or Health Club has inherent risks.. The most common and traditional way to manage those risks is by purchasing an insurance policy. Unfortunately, while working closely with many Gyms, Health Clubs and Hybrid Fitness Facilities we have found that an insurance policy just isn’t enough to protect your investment and profitability. For this reason, we are proud to offer a specialized program for Fitness Studios, Health Clubs and Hybrid Fitness Facilities called “LIFT”. This Program is Liability Insurance for Fitness & Training.
What is the LIFT Program?
The process of the LIFT Program is to identify Business, Strategic and Hazard risks in your company and to manage them through the following five ways: Mitigation, Transfer, Prevention, Finance, and to Assume. The goals are to lower the company’s Total Cost of Risk. The results of this make businesses more attractive to the insurance market place which allows for fewer losses and lower premiums. Let us do the worrying so that you can focus on growing your business!
What does the Deland, Gibson LIFT Program Cost?
Nothing. It’s that simple. When working through the Deland, Gibson’s LIFT Program, you are provided with an insurance plan AND with a risk management plan.
How Much Does Trainer, Fitness Center or Gym Insurance Cost?
Generally, this is the first question asked and the answer depends on a number of factors including the type of center you run, the staff, the type of training and programs offered and the type of equipment you have. In fact, you may not even need a specialized fitness insurance policy. The Deland, Gibson LIFT program was created to help determine the type of coverage and risk management strategies that best fit your company’s needs and to properly communicate that to the underwriting community.
Who Needs the LIFT Program?
You are an independent contractor working in different locations and so personal coverage is of the utmost importance. Your risks are lower than those of fitness centers, but you’re much more vulnerable to litigation putting you out of business and into personal jeopardy!
You are a studio under 4,000 sq. ft. with a staff comprised of mostly trainers or instructors. You need coverage that protects your staff plus specialized coverage for your focus (e.g. rock climbing, spinning, circuit training, yoga, pilates, martial arts, etc.).
Gyms & Health Centers
You are an urban gym or chain of gyms, multi-purpose sports facility, etc. You have a full staff to cover more business functions than just training, which presents a wide variety of risks from many aspects of your business as well as fitness specific risks.