Don’t Go Bankrupt—Why Personal Trainers Need Insurance With An LLC

A personal trainer sits in his office where he works on paperwork for his business and getting personal trainer insurance.

Personal trainers take on a lot of different responsibilities when it comes to running their business. You manage clients, advertise trainings, handle finances, create content, and everything else that comes with the day-to-day of a trainer and business owner.

To make things easier for yourself, you can occasionally find different ways to save time and money on tasks or programs—but there are some things you can’t cut corners with.

Insuring your personal training business is one of them.

“I don’t need insurance if I have an LLC. If I have a claim, I can just file for bankruptcy instead.”

Filing for bankruptcy is a serious action that shouldn’t be taken lightly or thought of as a replacement to insurance. When you are faced with a large claim, this may sound like a good idea to you. But in the long run, you could be facing years of financial consequences.

When you file for bankruptcy, your credit score can drop and the filing will remain on your credit report for up to 10 years. However, filing for bankruptcy is public record so some employers, loan officers, or property managers will immediately deny anyone with a history of bankruptcy.

This can make it difficult to apply for credit cards, open bank accounts, get a new car, receive a home mortgage or loan, rent an apartment, and set up a new LLC for years to come. In fact, most banks will never consider financing another business of yours if you have a history of bankruptcy.

A lot of this stress can be avoided by taking the right steps now to protect your business and be prepared for future claims. With personal trainer insurance, you could have most, if not all, of your claim expenses covered—without the negative consequences bankruptcy brings.

A personal trainer sits her office as she happily speaks on the phone to a client and reads them notes from her planner on her lap. She is happy her business is protected by personal trainer insurance.

“Insurance is too expensive, using an LLC for claims is a cheaper option.”

Depending on where you live, the fee to start an LLC can range from $40–$500.

Insurance Canopy’s personal trainer insurance costs $12.50 a month, or $129 a year if you want to save 14%. Even if you had a policy for three years, you would only be paying $387.

Look at it this way: the average cost of a personal trainer liability claim is $29,582.53*. This can include paying for medical bills, lost wages, legal fees, and more. Imagine having to pay that over the course of a few years and have the effects of bankruptcy impacting your future plans.

By combining general and professional liability, Insurance Canopy’s personal trainer insurance covers many common claims trainers face. Plus, you can personalize your policy to meet your specific needs.

Don’t go bankrupt over a single claim. Start investing in yourself as a personal trainer with Insurance Canopy today.

*Data collected from Insurance Canopy policyholders from 2015–2021.

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