A concern for anyone thinking of starting up a fitness club is being certain they have proper fitness club insurance in place. Not doing so could and will jeopardize the future well-being of that enterprise. The very first step one should take is to find an experienced and knowledgeable commercial agent who will have past experience guiding other fitness clubs through the process and making certain they have everything they need in place. It is so important that the agent helps educate the owner on the basics of worker’s compensation insurance, club liability insurance and property insurance as together they build a strong portfolio of commercial insurance.
Looking Into Property Insurance
Property insurance is of course a strong priority that one must have in place to protect not only the facility itself, but also all of the equipment contained within it. There is a specific tenants commercial property policy for those folks renting and not owning the facility. Much of what the final insurance plan will be based upon are items such as what services are offered on premises and off, what type equipment is on the premises and of course the overall size of the facility itself.
Looking At Club Liability Insurance
Basically, one will be having two types of club liability insurance in place. The first sort will be a general liability insurance providing protection against claims made by people reporting they were injured or damaged in some way and the business was the cause for it. Added to that will be what is called professional liability insurance which basically picks up where the general liability leaves off. This type covers the business interest should an employee be named as the cause of the injury sustained.
Worker’s Compensation Coverage
Workers compensation insurance coverage is a must in any situation where there are two or more people employed. This type insurance covers those employees should they suffer an injury while they are working. The good news for the business owner is that when an employee accepts compensation after filing their worker’s comp claim, they are not allowed to then attempt to file a lawsuit.
The bottom line is that every effort must be made by the business owner to have all insurances necessary in place. The assistance of that experienced professional to guide them through the process will prove to be invaluable.