Tel: 619-259-5459
Competitive Edge Insurance
  • Construction
  • Business
    • Health and Wellness Insurance
    • Cyber Liability
    • Bonding
    • General Business Insurance
    • EIDL Insurance Requirements
  • Personal Lines
    • Auto Insurance
    • Boat Insurance
    • Homeowners Insurance
  • About Us
  • Resources
    • Articles and Insights
    • Trusted Advisors
  • Contact
  • Menu Menu
  • LinkedIn
  • Instagram
  • Facebook
  • Youtube

Tag Archive for: health and wellness insurance

What You Need to Know About Insuring your Fitness Studio

July 25, 2021/in Health & Wellness, News

The health and wellness industry is booming. Over the last few years, there has been a greater demand for health and wellness services beyond traditional medicine. As a fitness center or studio owner, you prioritize the health and wellness of yourself and your patrons. As you look to continue to grow your business, it’s important to also look out for the health and wellness of your business.

Whether your fitness studio focuses on cycling, yoga, martial arts, boxing, or it is a classic space for people to come throw some weight around, you need to ensure your business is protected. Let’s get started!

Insurance Coverage for Fitness Studio Owners

General Liability

General liability coverage is, first and foremost, the coverage you need to cover incidents when your employees, products, or services may be deemed negligent or cause injury or property damage. This coverage protects your fitness business from general claims from patrons when they are on your property.

Professional Liability

This coverage ensures your business remains protected in case of claims against employees who act on your behalf. For example, trainers, physical therapists, or yoga instructors who work in your studio. 

Workers’ Compensation

You should also ensure you have workers’ compensation insurance to cover potential employee injuries while on the job. Some states contain workers’ compensation statutes that cover injury in an employer-sponsored fitness center, therefore it’s important to understand what your state covers. 

Occurrence Coverage

Occurrence coverage covers incidents that have occurred in the past. Within the fitness industry, an example would be a former patron injuring themself on your equipment and issuing a complaint years later.

Business Income & Extra Expense Coverage

Accidents happen, however, if your studio isn’t properly insured, those accidents may turn into something much larger. In the case of fires, floods, or other studio-closing events, you need the coverage to relocate your facility and continue to provide for your members.

Business Personal Property Coverage

Your fitness studio may include additional amenities such as locker rooms, pools, a sports court, and classrooms. These amenities also need coverage in the case of unexpected accidents. 

Equipment Breakdown Coverage

Coverage in the case that equipment breaks is important to have if you own a fitness facility. This coverage protects you and your business from expenses that are incurred due to the breakage of equipment. 

Premises Liability Coverage

This coverage is essential to your fitness studio, as you likely have a high volume of foot traffic. This coverage, however, not only covers potential injury within your facility, but it also covers injury if the patron gets injured on another area of the premises (for example, in the parking lot).

There are a few ways you can begin to mitigate these risks. First, your facility should provide spotters for weight lifting–– especially with free weights. You should also ensure your facility has a well-maintained parking lot and entrances/exits to limit the risk of slips and falls. 

Participant Liability & Accidental Medical Coverage

Not all fitness studios need this coverage. This coverage mainly applies to fitness facilities that sponsor tournaments or supervised competitions. This liability insurance protects from liability claims that are a result of injury during competitions.

What you need to know about employee insurance coverage

As a fitness studio owner, you may decide to hire independent contractors, trainers, physical therapists, or teachers. In doing so, you will need to make sure they have a certificate of insurance with a general liability insurance limit of at least $1 million incidental medical malpractice coverage.

Depending on how you choose to classify your employees, the insurance options may vary. If you choose to classify your employees as W-2, your trainers and other employees will be covered under your business’s liability coverage. 

It’s equally as important to understand when you can classify your workers as 1099 contractors. Many states argue that as a fitness center, you are setting appointments, schedules, and dress codes, which leads to an employee/employer relationship.

As you look to begin your journey in opening your fitness center, you need a partner who is ready and prepared to help you mitigate your risk. Contact Brenda Jo and her team at Competitive Edge to get started! 

https://compedgeins.com/wp-content/uploads/2021/06/Temp.-1-Thurs-July-29.png 1080 1080 Brenda Jo Robyn https://compedgeins.com/wp-content/uploads/2020/11/logoweb.png Brenda Jo Robyn2021-07-25 14:09:002021-11-01 16:16:46What You Need to Know About Insuring your Fitness Studio

Small Business Insurance: A Guide

July 4, 2021/in General Business Insurance, High-Risk Insurance, News

I’m a small business, do I really need insurance?

In short, yes. Insurance is needed for all transactions of business where outside parties are involved—big and small. Even though it might be tempting to opt-out of insurance, the risk is much greater (and expensive) if you’re not insured. 

The Risk

Picture this.

Your small yoga studio is starting to thrive as COVID-19 restrictions lift. More people are signing up for classes. Hooray, this is good news! Then a too-complicated pretzel move goes haywire and now you’re being sued for malpractice. And to top it all off, you don’t have insurance.

In retrospect, you wish you would’ve gotten Health and Wellness Insurance. Again, the risk is far greater than paying for small business insurance. 

Types of Small Business Insurance

Insurance jargon can be intimidating, which is why we’re here at Competitive Edge to help! 

There are SO many options of coverage to look into as a small business: 

  • Health & Wellness
  • Construction
  • Cyber Liability
  • Surety Bonding
  • Worker’s Compensation
  • General Business 
  • Umbrella
  • Executive Coverage

Insurance is not one-size-fits-all. As a small business, there are differences between the type of coverage that might work best for you. This can differ depending on what state you reside in, what industry you’re trying to insure, and more.

Even if your business is made of a small group of employees, business insurance is essential. If anything happens in office (injury, wrongful termination, emotional neglect), you will instead pay for it out of pocket. 

Still not convinced? 

Our team is dedicated to your safety, security and ongoing success.  Our clients stay with us for decades because we have their business’ best interests at heart and the depth of knowledge and experience to protect and insure them no matter what the market conditions. Contact Competitive Edge today for more details about small business insurance!

https://compedgeins.com/wp-content/uploads/2021/06/iStock-1257975650.jpg 1322 2266 Brenda Jo Robyn https://compedgeins.com/wp-content/uploads/2020/11/logoweb.png Brenda Jo Robyn2021-07-04 13:19:002021-11-01 16:22:21Small Business Insurance: A Guide

CATEGORIES

RECENT POSTS

  • Black and White Photo of a man writing a contractEPLI: Does Your Construction Business Need It?December 5, 2022 - 8:45 am
  • City view of commercial buildings, including skyscrapers surrounded by treesHow to COPE in an Inflationary EnvironmentNovember 28, 2022 - 9:00 am
  • graph illustrating downward trends from the recession with a calculator and pen and pencilTop Tips to Recession-Proof Your BusinessNovember 21, 2022 - 9:00 am

CONNECT WITH US

VIDEO POSTS

  • City view of commercial buildings, including skyscrapers surrounded by treesHow to COPE in an Inflationary EnvironmentNovember 28, 2022 - 9:00 am
  • Coronado bridge aerial viewGet to Know Our Founder: Her Rotary InvolvementOctober 2, 2022 - 7:00 am
  • Insurtech holographic image with man using ipadThe Coverage Pitfalls of InsurtechJuly 31, 2022 - 7:00 am
LET’S TALK

WANT TO KNOW HOW MUCH YOU COULD BE SAVING ON YOUR INSURANCE COSTS?

WANT TO KNOW HOW MUCH YOU COULD BE SAVING ON YOUR INSURANCE COSTS?

LET’S TALK

Connect With Us

Competitive Edge Insurance

LIC #0H31982

P: 619-259-5459
F: 619-377-0144

830 Orange Ave Suite L Coronado, CA 92118

Privacy Policy

Hours of Operation

Monday – Friday 8:00AM – 5:00PM

Saturday Closed

Sunday Closed

© Copyright 2021- Competitive Edge Insurance

site design by digitalstoryteller.io

© Copyright 2021- Competitive Edge Insurance
site design by digitalstoryteller.io

Scroll to top

This site uses cookies. By continuing to browse the site, you are agreeing to our use of cookies.

Accept settings

Cookie and Privacy Settings



How we use cookies

We may request cookies to be set on your device. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website.

Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer.

Essential Website Cookies

These cookies are strictly necessary to provide you with services available through our website and to use some of its features.

Because these cookies are strictly necessary to deliver the website, refusing them will have impact how our site functions. You always can block or delete cookies by changing your browser settings and force blocking all cookies on this website. But this will always prompt you to accept/refuse cookies when revisiting our site.

We fully respect if you want to refuse cookies but to avoid asking you again and again kindly allow us to store a cookie for that. You are free to opt out any time or opt in for other cookies to get a better experience. If you refuse cookies we will remove all set cookies in our domain.

We provide you with a list of stored cookies on your computer in our domain so you can check what we stored. Due to security reasons we are not able to show or modify cookies from other domains. You can check these in your browser security settings.

Google Analytics Cookies

These cookies collect information that is used either in aggregate form to help us understand how our website is being used or how effective our marketing campaigns are, or to help us customize our website and application for you in order to enhance your experience.

If you do not want that we track your visit to our site you can disable tracking in your browser here:

Other external services

We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Changes will take effect once you reload the page.

Google Webfont Settings:

Google Map Settings:

Google reCaptcha Settings:

Vimeo and Youtube video embeds:

Other cookies

The following cookies are also needed - You can choose if you want to allow them:

Privacy Policy

You can read about our cookies and privacy settings in detail on our Privacy Policy Page.

Privacy Policy
Accept settings