Business Liability Insurance (GL): You never know when someone will get hurt on your business property. For example, if your fitness studio has a lot of workout equipment, such as ellipticals, rowing machines, and more, it’s possible that your customers will trip over it or get otherwise injured while using it. When that happens, general liability will pay for the medical treatment of your injured guests. General liability also extends to the repair or replacement of any customer’s personal belongings that get damaged at your studio.
Abuse and Molestation Insurance: If a customer ever claims to have been abused or molested at your fitness studio, you will need this type of coverage to pay for the legal costs. This is because the victim could name you in the lawsuit since the incident took place on your property, and you’re especially at risk of this occurring if the alleged abuser or molester is someone you hired to work for your studio.
Professional Liability (E&O): When you offer low impact fitness services, you run the risk of customers occasionally getting injured and blaming your fitness studio. So whether you offer fitness classes or personal training, you need professional liability as part of your low impact fitness studio insurance policy to ensure that your legal costs will be covered.
Business Personal Property Insurance: It’s important for you to properly maintain your low impact fitness studio at all times, even when the building is damaged for any reason. For instance, if a fire burns down a portion of the studio, or if someone vandalizes it, you need to be able to afford to get repairs done quickly. Otherwise, you could lose business, resulting in a loss of profits. But when you have BPP, you can feel confident that your low impact fitness studio insurance policy will pay for repairs to the building.
Workers Comp Protection: Running a fitness studio usually requires the help of a whole staff of people. If you employ individuals to check customers into your fitness studio, answer phone calls, teach classes, or clean the property, workers comp needs to be part of your low impact fitness studio insurance policy. This way, their medical bills will be covered if they are ever injured as they complete their duties for your fitness studio. Workers comp will even pay them the wages they miss out on if they cannot work for a while after the injury.
Umbrella/Excess Liability: You understand the reason your low impact fitness studio insurance policy needs general liability, so you should also realize why it’s important to obtain excess liability. Simply put, it will extend your liability coverage.