Should I get insurance for my gym?

If you're considering opening a gym or already have one and are researching the gym insurance policy It's important that you know the Obligation to contract these insurances for gyms in Spain.

The Security is a crucial aspect For the long-term success of any establishment or business, and sports centers are no exception. That's why we believe it's important for you to know all the details that you should know about the insurance for gyms, the obligation that exists in Spain, he price and the importance of hiring one.

Importance of gym insurance

In recent years the Interest in maintaining a healthy lifestyle has increased exponentially, which has led to gyms becoming very popular and a an increasingly profitable industry . In fact, we already discussed it at length in another post. profitability of setting up a gym .

Due to their continued success, the gyms have become very busy places And the more people there are, The greater the likelihood of an accident, the greater the chances of it happening . Therefore, it is It's important to have accident insurance for gyms.

Whatever type of gym you're going to set up (a weightlifting gym, a weightlifting gym, a crossfit box, a fitness room, a spinning studio or a group exercise studio…) It will require at least basic insurance . At any time, a A customer or employee may suffer an injury , so liability insurance becomes mandatory.

But be careful not to confuse liability insurance (which is mandatory) with gym insurance. Liability insurance is a type of insurance that will protect your business if someone accidentally damages your premises, covering any resulting compensation, if applicable. gym insurance , however, It protects against material damage that may occur to it.

Why is gym insurance important? Because opening your gym requires a large investment, even if the premises are rented. If you do not have this type of insurance , in the event of any incident or problem you will have to assume the cost of any claim or compensation with your own resources or the company assets . Given the considerable outlay of money involved, it is essential Protect your investment with insurance and don't risk your new business.

Below we list a series of Advantages when taking out insurance for your gym:

• Taking out gym insurance increases business reliability and customer satisfaction, since you guarantee their safety.
• Taking out insurance too It guarantees the protection of your personal or company assets , since in case of an accident you will not have to assume the costs or compensation.
• Gym insurance It benefits customers, employees, and business owners.
• Gym insurance can be adapted and customized to meet the needs of each business owner , from providing basic coverage to offering complete protection.

As prevention is always better than cure, here are some tips. basic safety measures to apply in a gym .

What insurance is mandatory for gyms?

There is a A wide variety of insurance policies are available for gyms , but none are legally required. While it is true Liability insurance is required to grant the opening license to the premises. We already explained in another post what they were. Requirements to open a gym in Spain.

Therefore, The only thing you are legally required to have is liability insurance , which will cover accidents and damages suffered by users when the establishment is responsible.

Liability insurance for gym

As we have highlighted, It is mandatory to have liability insurance. This It will cover all injuries suffered due to negligence or malfunction of the facilities.

However, if the injury is caused by misuse of the facilities, the liability insurance will not cover it. Similarly, Injuries caused by improper technique are not covered. or due to personal misuse of the equipment.

Some insurance companies offer Different types of liability insurance policies for gyms :

• Civil liability of exploitation : covers accidents that members may suffer in the gym.
• Civil liability exterior : provides coverage to the activities performed outside of the establishment.
• Civil liability employer's : covers the damages suffered by employees from the gym.
• Civil liability of real estate : implies the compensation for the damage caused to the premises .

Therefore, the mandatory basic liability insurance will cover your employees in case of negligence, accidents, or machine malfunctions. However, if you can afford a larger investment, we advise you to consider it. to purchase a policy with better features and greater coverage.

Recommended gym insurance

In any case, there are Gym insurance policies that are recommended , and although not mandatory, they allow you expand coverage for damages and incidents that might happen in your gym.

He business insurance for gym can cover the premises and/or the contents In the event of fire, water damage, electrical damage… The possibilities for configuring this type of accident insurance for gyms are countless. There are many coverage options which can be included with or purchased separately from business insurance. All It will depend on the level of protection and tranquility. that you wish to obtain. You can cover everything from accidents you suffer personally, to legal defense or employment issues.

Taking out business insurance is a worthwhile investment , since, in addition to covering damages to third parties with liability insurance, you can insure the contents of your premises and other types of incidents.

Given the financial outlay involved in opening a gym, A business insurance policy becomes one of the necessary insurance policies for a gym.

Insurance for rental gyms

You may be wondering if it is necessary Purchase insurance when the gym is rented. In this case the obligation to take out liability insurance It affects you in the same way.

If your gym premises are rented, you can only opt for the mandatory public liability insurance policy that covers damages to third parties. This insurance is cheaper than business insurance, but the premises and equipment (reception furniture, changing room lockers, exercise bikes, etc.) would not be covered by the guarantees of business insurance (fire, theft, electrical faults, water damage, extreme weather events, vandalism, broken windows, etc.).

However, in the case of a Gym rental , you just need insuring the contents under business insurance , since it is It is the owner's responsibility to insure the premises.

Price of gym insurance

Is It is difficult to establish an approximate figure. which one might be price of gym insurance. The cost is given by a series of variables like the location from the gym, the size of the same (measured in square meters of the premises), the type of activities that are carried out in the gym, whether the business is owned or rented, the number of workers , the safety measures that will be installed… In addition, also The price varies depending on the included coverages and the chosen insurer.

The same applies to the price of liability insurance for a gym , it will depend on the included coverages (employer's, product, premises...). Remember that the mandatory insurance for gyms is liability insurance.