What Is Personal Trainer Insurance?Personal trainer insurance is designed to protect your business from third-party liability claims arising out of your business operations, such as bodily injury or property damage. These days, the average cost of a lawyer in the US is anywhere from $250 to $600 an hour depending on your location and the size of the firm? Or that the average payout for a personal injury claim can be up to $50,000? And that’s on top of all the lawyer fees and loss of work you’d have to deal with as well. Would you be able to pay that out of pocket? Or would you need to have some kind of insurance in place to help mitigate this from ever happening? With personal trainer insurance, you could be covered in similar cases and not have to worry about going out of business. Without it, you would be on the hook for any lawsuits against you. Sounds, kind of scary, right? You might be asking…
How Do I Know If I Need Personal Trainer Insurance?Oh, you’ll know. If you’re trying to train in someone’s private gym or out of a chain gym then the gym owner or manager will likely require you to have insurance as well as list them as an additional insured before you can even begin working! By listing the gym owner on your policy as an additional insured, you ensure that in the case of a lawsuit against you the owner is protected as well. This doesn’t mean that if the gym owner got sued for something you would also get sued, this means that if someone sues you after getting injured doing a lift due to your instruction, then the gym owner isn’t on the hook for dealing with it, they are just protected against a separate lawsuit claiming the same injury since they were already listed on your policy. Even if the owner of the gym you’re wanting to train at doesn’t require you to have insurance, it is still a valuable business practice to follow to protect yourself. If you’re training outdoors or in your own gym, you want to be sure you have the proper safeguards in place in case the worst-case scenario were to occur. And, honestly, do you trust that nothing will go wrong while working out heavy weights and metal bars?
What Should a Personal Trainer Insurance Policy Include?In order to have the proper coverages on your personal trainer insurance, you will want to be sure the policy you are looking at offers you the coverages you need. The best personal trainer insurance policy will offer you:
- General liability insurance
- Professional liability insurance
- Products & completed operations aggregate limit
- Damage to premises rented to you coverage
- Option to add additional insureds
- Option to add inland marine coverages
What Do Those Coverages Even Mean?We’ll do our best to explain. As a personal trainer, you inherit many risks while on the job. Some of these risks may not have even occurred to you. Each risk you take on is associated with a different insurance coverage that could cover a claim pertaining to the coverage. Let’s take a look at our limits table and go from there. Limits of Insurance
General & Professional Liability Limits
|General & Professional Liability||$3,000,000|
|Products & Completed Operations Aggregate||$3,000,000|
|Personal & Advertising Injury||Included|
|General & Professional Liability Each Occurrence||$2,000,000|
|Damage to Premises Rented to You||$300,000|
|Inland Marine / Business Personal Property||$2,000|
General & Professional Liability LimitYour general and professional liability limit is the maximum amount your insurance will payout within a policy year for general professional liability claims brought against you.
Product & Completed Operations AggregateAccording to IRMI, the International Risk Management Institute, a products-completed aggregate limit encompasses liability arising out of your products or business operations conducted away from your own premises once those operations have been completed or abandoned. This coverage is typically included in your general liability insurance coverage.
Personal & Advertising Injury LimitThe personal and advertising injury limit, which is tied in with your general liability coverage, insures against personal harm not due to bodily injury, protecting you against the following offenses in connection with the advertising of your goods or services: libel, slander, invasion of privacy, copyright infringement, and misappropriation of advertising ideas. Read more about it at IRMI.
Damage to Premises Rented to You CoverageThis coverage applies to damage by fire to premises rented to you and to damage regardless of the cause to the premises (including contents) occupied by the insured for 7 days or less. If you’re curious about more details for this limit, refer to IRMI.
Inland Marine / Business Personal Property LimitInland marine insurance, or your business personal property limit, is meant to cover tangible property that is movable or transportable in nature, meaning your supplies, equipment, or inventory. If you have questions regarding what would be covered, feel free to reach out to our customer service team who will be more than happy to delve in further. You’re probably thinking, “That sounds great and all, but…”