What Every Health Club Owner Should Know About Commercial Insurance

What Every Health Club Owner Should Know About Commercial Insurance

Owning a health club is a rewarding occupation. Not only are you giving the members of your community the tools they need to stay healthy you are also making a profit. To ensure your profits stay profits you must invest in a comprehensive health club insurance package. Protecting the health of your club and the health of your employees is extremely important. When you begin obtaining quotes on the market, you will quickly realize there are several different types of club insurance. Know the difference of each type of coverage and build a suitable policy that is tailored to suit the needs of your fitness club.

General Liability

As a club owner, you should be aware that a standard commercial general liability policy would not cover you against unforeseen lawsuits and claims. General liability insurance for health clubs are designed to protect you against lawsuits that may arise because of an injury, damage, libel, slander, advertising injury, and sexual abuse accusations. In today's litigious society, lawsuits are not uncommon. One claim can shut your doors for good. General liability insurance is necessary for all fitness centers.

Property Insurance

If you own the premises or you are leasing you will need to carry property insurance. Property insurance covers both the dwelling and the contents inside of the dwelling. Investing in commercial fitness equipment and supplies is expensive. You must make sure you protect not only your gym equipment but also the building that houses this equipment. Vandalism, fire, explosion, civil riot, hail damage, and eruption are just some of the exposures covered in a property club insurance plan. You must make sure to list all of your business property and contents on your policy to ensure everything is covered adequately.

Employment Practice Liability Coverage

As a business owner, you must protect yourself against claims that may arise from a disgruntled employee. It is not rare for an employee to sue their previous employee because they were terminated or because they were not promoted. In fact, statistics show your chances of being sued by an employee are higher than your chances of being sued by a club member. Employer Practices liability coverage will protect your business against claims of wrongful termination, sexual harassment, disciplinary issues, failure to promote from within, and more. Even a candidate who was not hired for a position has the right to sue if they have rightful cause. Protect your reputation and your business and invest in this much-needed coverage.

Several different commercial insurance companies offer blanket club insurance plans that will cover everything listed above. Find an experienced agent representing a reliable company and bind coverage immediately. Once you have a comprehensive insurance plan you can stop worrying and start focusing on profits.

POST COMMENT

Reasons Why You Should Obtain Long Term Care Insurance Excellent Insurance NRA and its significance How to Conserve Income and Get Discount Vehicle Insurance coverage in Maine Pregnancy Travel Insurance: Feel Free to Travel While Pregnant Best Cars-- Lower Your Insurance Rate Electrician Liability Insurance Non-Owner insurance Non-Owner's Insurance Virgin Money's New Life Insurance Policy Reviewed Your Income Protection Insurance Occupation Category - What Does It Mean? Mums in Life Insurance Bubbles: Are You One? Is the Women's Insurance Price Difference a Last-Season Fashion? Medical Insurance Blog - Everything You Need to Know