Gym Insurance: Cost, Coverage & Best Providers 2023

A BOP is a combination of two coverages: commercial property and general liability. Some providers add lost business income coverage to it too. This coverage is essential for boutique clubs, health clubs, and any business owner who owns the building and the gym.

General liability insurance is the most common and essential liability policy because the losses covered are so broad—it protects your business from third-party claims of injury and property damage. If someone slips and falls at your 24/7 key access facility, you could file a claim under this coverage for their injury. Note that this policy is unnecessary if you purchased a BOP.

This insurance is sometimes referred to as errors & omissions (E&O) insurance. This is a liability policy for any service industry because it protects your business from claims that a service provided resulted in harm or loss to the customer. Consider carrying this policy if your gym has a fitness, pilates, and dance, as well as any other type of, instructor.

If you do mobile instruction, say at a park, or rent a facility but own the equipment, then you need inland marine to cover your tools and equipment. This is a first-party property insurance where the coverage follows the listed items instead of being tied to a specific location.

In nearly every state, workers’ compensation is a required coverage. If an employee becomes injured or ill from their job, it helps with medical costs and wage replacement and in some states, also protects the employer from liability.

We received a quote for liability with three options for coverage and pricing:

1. The basic coverage carried limits of $1.5 million. This translated into $500,000 per occurrence and $1.5 million aggregate for general liability and the same for professional liability. It also carried $100,000 in abuse and molestation coverage. This policy cost $152.34 monthly.
2. The premier quote carried a limit of $3 million. It broke down similarly to basic with $1 million per occurrence and $3 million aggregate for general liability and professional liability and $100,000 for abuse and molestation. This level cost $172.84 monthly.
3. The deluxe level of coverage had a $4 million limit for general liability and professional liability with $2 million per occurrence, respectively. It also carried the same level of coverage for abuse and molestation. This policy cost $191.92 monthly.

You can obtain a quote and purchase a policy online with Next. If you want to speak with someone directly, it is only available Monday to Friday from 6 a.m. to 6 p.m. PT. However, unlike any other provider on this list, it offers an app exclusively for commercial services. The app functions like a 24/7 call center, allowing you to manage your policy, file a claim, or get an instant certificate of liability.

Despite being only seven years old, Next Insurance has an A- (Excellent) rating from AM Best.

We received two quotes for a personal trainer:

1. The one from NASW was for general liability and professional liability. It carried a limit of $1 million per occurrence and $3 million aggregate for both forms of liability. It cost $550 annually with no option for monthly installments.
2. The other policy was through Hiscox, which carried a limit of $1 million per occurrence and $2 million aggregate for general liability. The professional liability carried a total limit of $1 million. The policy cost $1,046 annually or $87.16 monthly over 10 months with the first and last month of coverage due the day of purchase.

Simply Business lets you tailor the coverage so that after the quotes are generated, you can interact with the coverage and change the limits. Then, it will update the quotes in real time.

You can purchase the policy online or call to speak more about the coverage.

After purchasing a policy, you can manage it and initiate the claims process through your online account, which you have access to 24/7. You can also request a COI. If you prefer speaking with anyone, it is open Monday through Friday, from 8 a.m. to 8 p.m. ET.

Customers are happy with their experience using Simply Business. There are more than 600 reviews on the independent review site Trustpilot¹ with a rating of 4.7 out of 5.

Simply Business works with top-rated carriers. For our quote above, the companies were NASW with a rating of AM Best rating of A- (Excellent) and Hiscox with an A (Excellent) from AM Best. Also, Simply Business is owned by Travelers, which AM Best rated A++ (Superior).

A sample quote from The Hartford was $1,027 annually or $85.58 per month. To finalize the online quote, you will need to call. This quote included $50,000 in exercise equipment with a deductible of $1,000 and liability with a limit of $1 million per occurrence and $2 million aggregate.

With its wide variety of offerings, The Hartford has coverage options that are perfect for an independent contractor or a brick-and-mortar fitness center owner. It offers BOP, general liability, and workers’ compensation to complement professional liability.

The Hartford is available to its customers 24/7 for claims or policy services. It works with independent agents who can give you advice on your coverage, and you can manage your policy online. It is evident that its customers are happy with their experience since it has a lower-than-expected number of complaints filed with the National Association of Insurance Commissioners (NAIC).

An established carrier with over 200 years of experience, The Hartford has a rating of A+ (Superior) from AM Best.

In minutes, we received a quote for $145 annually. It included $3 million for general liability and professional liability with $2 million per occurrence. It also contained $300,000 for any damage to a premise (think building) that you rent and $2,000 for your equipment. The equipment coverage had a $100 deductible.

For $30, you can add the ability to add an unlimited amount of additional insureds to your policy. A nice feature is that you can add liability coverage for dietitians and nutritionists for $75.

This quote included same-day coverage.

Once you purchase a policy, you’ll have access to all of your policy documents through the online account dashboard. There, you can manage your policy, obtain a COI, and begin the claim process.

If you need to speak with someone, there are agents available Monday through Friday, from 8 a.m. to 8 p.m. MT.

The policy is administered through the Great American Insurance Group, which AM Best rated A+ (Superior).

We received a sample quote from ACE for a $1 million general liability policy with a $3 million aggregate limit for $172 annually. There is an option to purchase this coverage for two years, the cost for which is $294.

According to the Philadelphia Insurance Companies (Phly), the carrier underwriting the policy sold by ACE, the policy comes with special events coverage for an event held by a club at another location. There is also an option to add liquor liability coverage. This policy is only for liability and does not provide any coverage for your tools or equipment.

Since Phly is the carrier underwriting the policy, it would be the one handling any billing or claims-related concerns. It has 24/7 customer service and online services for policy management and claims. It also has a dedicated fitness and wellness policy and claims services team. Also, the fitness policy comes with risk management services.

Complaints filed against Phly with the NAIC are lower than the national average.

Phly is a subsidiary of the global company Tokio Marine Holdings Inc. It has an AM Best rating of A++ (Superior).

To obtain a quote, you will need to call K&K, reach out to an independent agent, or create an online account and request one.

K&K offers a general liability policy, with add-ons, such as inland marine, for your equipment. The policy is for smaller businesses: the gym must be less than 3,000 square feet, and the company must have $2 million or less in yearly revenue.

Those limitations aside, there is a lot it covers, such as saunas, massages, gyms with childcare, and noncontact martial arts. There are options for maintaining your policy and filing a claim online. You can also work with an agent.

Unfortunately, K&K is not available 24/7. You can reach it Monday through Saturday, from 7 a.m. to 7 p.m. CT.

K&K Insurance is owned by Aon, which has an A (Excellent) rating from AM Best.

Gym insurance is a policy or combination of policies purchased to protect a gym from the financial loss of claims. For a gym club owner, the best policy is a BOP closely followed by workers’ compensation for employees. For a personal trainer or fitness instructor, they will want to consider professional liability.

General liability for a gym can range from $200 to $4,900 annually. Gyms occupy a potentially risky space, especially if it is open 24/7, employ dieticians, or host fitness competitions. This, coupled with the expensive property and equipment, can lead to a premium being over $10,000 annually.

No. While a business liability waiver can help protect your business from lawsuits, it isn’t a magic shield that covers every scenario. It must be in compliance with state laws and regulations and, depending on the activity or loss doesn’t mean the injured party cannot still pursue litigation against your business.

You can get gym insurance by contacting an agent or insurance company directly to get a quote and purchase a policy. You can also go with a broker like Simply Business which works with multiple providers. The advantage of working with a broker is they can give you options from different providers, letting you compare coverage and pricing, and picking the best one for your business.