What insurance does a gym need?

8. Professional Liability Insurance Professional liability insurance covers gyms for claims of negligence, mistakes, or omissions in the professional services they render. It offers protection and coverage for defense costs as well as any settlements or judgements brought about by professional liability lawsuits.

How much does gym insurance cost?

The total insurance cost can still be more than $10,000 annually. Note that the cost of workers’ compensation insurance is calculated using a formula that includes your business’ industry, claims history, and number of employees. The price can vary significantly even within the same industry. Multiple factors affect gym insurance costs.

What is gym liability insurance?

Call us or start a quote online. Basic gym liability insurance covers mishaps that can occur in your gym, such as customer slip and fall accidents. It also protects against lawsuits that can arise from such accidents. Also called errors and omissions (E&O) insurance, this coverage protects against claims of negligence.