Health and Fitness Insurance
Whilst some jobs require heavy lifting there are only a few where members of the public will pay you to do the heavy lifting themselves.
Health and fitness professionals in some ways find themselves on the opposite end of the job spectrum to most other workers involved with heavy lifting. It is not that you personally are likely to damage public or their property with your expensive tools and equipment for example but instead your clients are at risk of injuring themselves and their own or possibly your property. This is why health and fitness insurance is essential if you are in the health industry.
Why is Health and Fitness Insurance Important?
The precarity of your venue and the people who pay to use it in the health and fitness industry means you’re in need of considering insurance policies. Here we’re going to look at the specific insurance policies that can be tailored to your industry, what the essentials are and what might fit your specific setup.
What are the main health and fitness insurance policies to consider?
Public Liability Insurance
A crucial part of health and fitness consultants and worker’s insurance policy is public liability insurance. This can help protect you if a person’s property, or worst of all, a person themselves gets injured or damaged because of your business. In many cases, you may have a valid point that they would have remained safe with proper use of equipment or possibly it was the fault of someone in the venue earlier who left something dangerous in a precarious position.
This means that even if you take all the steps that you could possibly think of, it’s still possible that something goes wrong which could end up with you being out of pocket big time. Getting public liability insurance means that you are covered even for very large amounts should someone make a claim against you in one of these unfortunate situations. Some providers even offer cover in the millions! It’s not only about worrying for a doomsday number to arrive either if smaller claims come through, but they are also still going to catch you by surprise and disrupt your budgeting. #
If you have cover, you can instead prepare in your budget every month for a known small amount to come out and prepare your business accordingly.
Having an insurer for this task and means that should one of these situations arise, you can focus on your work which you’re trained for whilst other trained professionals focus on the legal and financial side of things. This way everyone’s working on what they do best and things are kept efficient.
So, if you care about efficiency, budgeting, and being risk-averse, then we very strongly recommend looking into getting public liability insurance for your health and fitness practice.
Not everyone in the health and fitness industry works in the same kind of environment. Some people may run large conglomerates with thousands of employees and many more keen gym-goers as their clients. However, some make a great living in this industry as a sole trader, helping people out as a personal trainer or something similar. There are also many people who work somewhere in between these two styles of occupation. There are only some that need to be concerned about employers’ liability insurance. However, if it does relate to your business then it is something that can’t be ignored.
Employer’s Liability Insurance.
By UK law, any company that employs staff must have employer’s liability insurance. This will be of no help to people without employees such as workout designers, but for those who do, it will play a similar role to public liability insurance in protecting you against claims, except by employees rather than members of the public. This also plays an important role in protecting your employees and so is overall crucial to a safe atmosphere and operation for everyone who’s involved in helping to run your health and fitness industry. Even if it wasn’t a legal requirement, we’d still definitely be recommending it to those who with employees.
Business Premises Policies
The last insurance policy that we think is strongly worth considering is business premises policies. This again is going to apply less to people who work jobs like personal trainers but will be essential to those who run gyms, although probably less so for the largest business out there. If your business is focused on just one or two gyms, then your venue going out of use could spell disaster for your financial layout.
Business premises cover provides different options such as compensation for the money lost whilst your gym was out of use or sometimes there are offers that guarantee a time frame in which they’ll help things get back up and running. If you want to keep your business safe in the long term, this is the last of the three that we think should be strongly considered if the policy applies to your health and fitness practice.
Find out more about the importance of insurance here.
Other useful links about Business Insurance:
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