CrossFit has taken the country by storm, becoming one of the most popular ways to get in shape and build a sense of community. As a CrossFit gym owner, you understand how important fitness is to your customers and take pride in getting them to achieve what they never thought possible. However, you also know that safety is your number one concern. Unfortunately, many CrossFit gym owners have no idea what they need to do to ensure this safety.
Luckily, we are here to provide you the information you need to know. In this blog post, we will go over the insurance coverage that CrossFit gyms need to have, what this insurance coverage entails, and how our team can get you the insurance you require.
Insurance Requirements for CrossFit Gyms
If you are a CrossFit gym owner, the insurance you get should include several types of coverage:
- General Liability Business Insurance: Unfortunately, no matter how many safety techniques you try to implement in your CrossFit gym, accidents happen, and people will get hurt. That is why it is essential to have general liability business insurance as part of your insurance policy. With this insurance, if someone twists an ankle or breaks a finger, their doctor bills can be covered. Additionally, if one of your gym members breaks their workout gear, and it is determined that it is your gym’s fault, this general liability insurance can repair or replace this gear.
- Professional Liability Insurance: This professional liability insurance is intended to pay for the medical bills of any individual who gets injured under the gym’s supervision. For instance, if your CrossFit provides coaching or similar services, this professional liability insurance will help pay medical expenses and any possible legal costs.
- BPP Insurance: Every CrossFit gym owner knows that their property needs to be clean and well-maintained for their members. However, if gym owners do not have the funds, sometimes these repairs are impossible to complete. Especially if repairs are required after an act of vandalism or a disaster that destroys a CrossFit building. Yet, with Business Personal Property Insurance, you can avoid these issues and get the money you need for the repairs your gym requires.
- Abuse and Molestation Insurance: You want to make sure that your CrossFit gym members feel safe. That is why your gym must hold Abuse and Molestation Insurance. Typically, this insurance will cover any claim related to abuse or molestation on your business property.
- Workers’ Compensation Protection Insurance: First, you need to consider how many employees your CrossFit gym employs. If it has a full staff, your gym is responsible for obtaining workers’ compensation. Not only is this insurance coverage mandatory, but it is also crucial for your employees who are injured while performing their job duties. This workers’ compensation can help your injured employees get their medical bills paid for, get disability benefits, missed wage replacement, and even death benefits. Better yet, workers’ compensation can also help reduce the gym’s liability for work-related illnesses and injuries.
- Excess Liability Insurance: In some instances, your general liability insurance will not be able to provide enough coverage to pay for the accidents or incidents that happen at your gym. In these cases, it is vital to have excess liability insurance, which can increase your liability limits and reduce your chances of paying for the damages yourself.
General Liability Insurance Coverage – Why It is So Important
Every CrossFit gym owner wants to make sure that their members get the best workout at their facility while remaining safe on their premises. Unfortunately, even with the best intentions, sometimes people get hurt. Even worse, without proper insurance, your CrossFit gym can be held responsible for the damages and expenses that result from this injury. For many gyms, this can become a substantial financial burden.
That is why CrossFit gyms of all sizes need to have general liability insurance. This insurance can protect the gym’s staff and owners from having to pay for any of these expenses out of their pocket while also covering the following legal costs if a legal case results:
- Legal settlements the gym is required to pay if they lose their case.
- Lawyer fees, witness expenses, and costs associated with obtaining the necessary evidence to defend the business.
- Time away from the company that is spent working on the legal case.
General Liability Insurance- What Does It Cover
Typically, general liability coverage includes the following:
- Property Damage: If any property is destroyed and it is determined that it is your gym’s fault. The property damage coverage will cover these costs.
- Bodily Injury: If anyone is hurt at your fitness facility, the bodily injury coverage will pay for any expenses associated with the required medical care.
- Medical Payments: If any of your gym members acquire an injury, but this injury does not rise to the level of a lawsuit. This medical payment coverage can pay for the medical bills.
- Damage to Rented Premises: If you have to rent space for your CrossFit gym, this coverage will pay for any damages you are accused of causing.
- Personal and Advertising Injuries: If your gym is charged with committing slander, libel, or copyright infringement, this coverage will help pay your legal expenses.
Let CrossFit RRG Get You the Insurance You Need
At CrossFit RRG, we understand that as a CrossFit gym owner, your gym is your livelihood, and you will do anything you need to do to protect it. We also understand that figuring out what is best for your gym is not always easy. That is why we are here to help. If you are looking for insurance coverage for your business, look no further. Contact CrossFit RRG today to discuss your insurance options or go over any questions you may have.
If you’re a broker looking for innovative insurance solutions for your clients, we invite you to learn more about NEXO Insurance Services. With a focus on technology, flexibility, and customer service, NEXO offers a wide range of insurance products and services designed to meet the unique needs of today’s businesses.
By partnering with NEXO, you can offer your clients the peace of mind that comes with knowing they have the right insurance coverage in place. To learn more about NEXO Insurance Services and how they can help you grow your business, visit our Agents & Broker website or contact us today.