When your profession requires you to push people to their physical limits, accidents are inevitable. Although personal trainers are not required to carry insurance, operating without one is a risk not worth taking. Choosing the right insurance helps you focus on your business and passion. Athletic trainers chose their career to motivate and help others improve their lives. Carrying the correct insurance brings peace of mind that everyone is protected so that stress is not an issue. Of course, there are many insurance policies out there, and knowing which to choose can be confusing. Today we will talk about why having the correct professional indemnity insurance is critical and how to choose the perfect fit.
Professional Indemnity Insurance for Athletic Trainers
Accidents Happen
Even though the goal of all fitness professionals is to inspire others and guide them to a healthier version of themselves, accidents are inevitable. Unfortunately, when they do, often, lawsuits ensue. Whether the plaintiff seeks compensation for purely medical bills or attempts a negligence suit, not carrying proper insurance will result in hefty fees. That is why it is crucial that insurance policies are up to date and take appropriate precautions in daily business practices. Precautions include obtaining medical clearance from physicians, conducting a medical screener, and having contracts and waivers up to date. It is also wise to make a business LLC so that your personal assets are protected.
- Health History Questionnaire: Every new client needs to complete a health history questionnaire. If there are any red flags or concerns, you must ask a client for a physician to clear their new fitness regime.
- Medical Clearance from Physicians: If a client has any history of injury or health, a physician will fill out a medical clearance form. It will list limitations and risks so that the fitness plan can be adjusted accordingly.
- Contracts and Waivers: All new clients must sign contracts and waivers exhibiting their knowledge of what they are signing on to do and the risks involved. This paperwork must be kept up to date so that it is legally binding.
- Notes: Keeping detailed notes on each client is wise. After every session, updating their notes with current information is equally important.
- Insurance: It is prudent for all athletic trainers to carry insurance even though it is not required.
Choosing an Insurance Plan
Getting insurance is the first step in protecting yourself, but choosing the proper plan for your situation can be confusing. Carrying the incorrect insurance plan can result in headaches and financial despair. Different types of insurance are needed depending on whether you are an independent trainer, contractor, employee, or an affiliate. Each position carries various factors that will affect your decision as to which insurance policy to have.
Employee
Employers might ensure their athletic trainers. If they do, it is vital to understand what is covered. General liability insurance is not sufficient to cover malpractice suits. In addition to general liability, it is prudent to invest in professional liability insurance, covering some or all legal fees and settlements.
Independent Trainer or Contractor
As a self-employed trainer, you are responsible for insuring yourself. Investing in both general liability and professional liability insurance is the best way to work with peace of mind. Knowing you have all of your bases covered allows you to focus on pushing your clients to reach their goals.
Affiliate Owners
Investing in your own CrossFit affiliate is exciting. It takes a lot of time, money, and certifications. The last thing you want is to lose everything due to one lawsuit catching you off guard without proper insurance. Investing in general liability insurance is a must, but professional insurance is vital as well. It is essential to ensure your box and ensure that all the athletic trainers are also adequately insured.
Choosing the Right Insurance Company
Knowing that you need adequate insurance is half the battle, but there are a plethora of insurance companies out there. How do you know which one to choose? Just like with medical insurance, professional insurance is not a one size fits all. Finding a company that understands your business and needs can make all the difference. Equally important are prices, deductibles, and response times.
Cheaper is Not Always Better
Having a plan covering your needs with reasonable deductibles can be the difference between a business thriving or going bankrupt. Having a company that doesn’t respond right away or makes filing a claim difficult renders insurance an unusable headache. When choosing an insurance provider, make sure they have a guaranteed response time that is reasonable. If a company takes longer than 72 hours to respond, move on. You want to know that who you invest in will support you in times of need. Of course, what you need depends on your industry.
Sport Specific
There are specific sectors of the fitness industry that have different needs from others. Trainers, contractors, and business owners should all find an insurance company that understands this specific situation.
CrossFit Risk Retention Group was founded by individuals who know and love CrossFit. They understand the unique aspects of CrossFit affiliates and trainers, including the need to make insurance simple. The process of signing up for insurance is streamlined and simplistic. The method of communicating with the company if something does happen is quick and efficient. On top of that, CrossFit RRG is a community-owned company. This means that as a trainer or affiliate, you own stock in the company. The benefits of this company design are plentiful, including direct access to the company’s legal team. Having the peace of mind that you are covered by a company that understands what that takes will ensure you have a successful career in CrossFit for years to come.
Passion and Support
The small team at CrossFit RRG knew that CrossFit trainers needed coverage specific to their industry. They are dedicated to building a community that supports each other. Designing their company as an RRG puts control in the hands of the affiliates and trainers. They are the only company approved by CrossFit. If you are a CrossFit professional, there is no better choice for insurance than CrossFit RRG. For any questions or inquiries, contact us today.
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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.