Personal Trainer Insurance
I am a personal trainer who has a small basement studio in an office building. I am the sole PT and only give one-on-one training. I do basic functional training using TRX, lower weight dumbells, resistance bands etc. I am currently paying $595 yearly for ‘studio’ policy. This policy does not cover any equipment or property loss.
Do I really need a studio policy or can I get the same value from a personal policy?
Thank you for checking in with us. I know it can be confusing to know why you are paying an annual premium without equipment coverage.
Property is tangible. Accidents are intangible, meaning you can’t directly predict or price what will happen (things like a client stepping back, tripping on your foot, falling and getting injured).
That example is something covered by general liability. Without looking at your studio policy directly, I can’t know whether or not you have professional liability coverage included. Some policies do. This would cover something like a client suing you for a back injury because they are convinced you didn’t teach them to perform squats properly.
These intangible types of losses could result in tens of thousands, if not more, in customer settlement costs not to mention the legal fees to defend you – particularly in false claims against you.
Hope that helps.