Personal Fitness Insurance is one of those things. Think you don’t need professional insurance? think again… You’ll need an insurance broker that will be able to provide you the level of insurance that covers your risks. And risk is not the same for each of personal trainer given the different levels of risk from say weight training in someone else’s gym to cardio work out in public spaces. The main types of insurance you should consider?
- Public Liability
- Personal Indemnity
- Business Equipment cover
- Personal injury insurance
- Loss of earnings
- Employee Liability cover
Public Liability – covers you for general insurance costs, in case a member of the public makes a claim against you. This might be a slip on the floor at your home or gym or any number of reasons when a member of the public comes in contact with you. It can cover legal costs and payouts for injury or damaged property. You can get public liability from all the big insurance companies like axa.com, but for further information and working out a quote check out https://www.simplybusiness.co.uk/insurance/public-liability/
Professional Indemnity – covers the cost of claims against you if someone claims they have had suffered financial loss. With legal fees even if you’re in the right things can get expensive quickly. Mistakes can be made and there are lots of reasons why someone might make a claim against you, such as:
- professional negligence or breach of duty of care – this might be where you’ve made a mistake or given bad advice.
- unintentional copyright infringement – this is using someone’s elses work, without their consent and can include, content, images and property
- unintentional breach of confidentiality – if you don’t look after someone’s data, particular as you might hold personal data on individuals, if that is leaked or lost, you could be in breach.
- loss of documents or data
- defamation or libel in the age of social media especially in the world of body conscious people, published false statement that is damaging to a person’s or company’s reputation may result in a defamation of character case.
Again its a level of risk and whilst this might be rare, it only need to happen once to cause a lot of potential damage. You pay more for the higher risk with cover from £50,000 typically up to £5 million. Again hiscox.co.uk is a large insurer however, we check: https://www.simplybusiness.co.uk/insurance/professional-indemnity/ for further explanation and an online quote. For an individual you might be as low £30-£50pcm for professional indemnity and public liability insurance. Its worth shopping around as there are a lot of brokers out there. Again get a quote to see what level of cover you should cover and what the likely costs are: https://www.simplybusiness.co.uk/insurance/business-equipment/
Other types of insurance to consider:
Of course there are other circumstances that might result in the need of insurance, which includes if you get injuryed and are unable to work. You might be able to claim if you have personal injury insurance and if it puts you out of action for a long time then they’ll be loss of earnings and loss earnings insurance maybe the best course of action. Of course there’s other considerations if you are employing people, you’ll need employee liability cover and if you are a gym owner or have specialist equipment; Business Equipment cover might be appropriate. if you are using costly equipment this might get damaged or stolen and you might consider protecting your business against this to avoid any large financial shocks. Again get a quote to see what level of cover you should cover and what the likely costs are: https://www.simplybusiness.co.uk/insurance/business-equipment/
There are also specialist fitness insurers such as https://www.insure4sport.co.uk/covertypes/ptandfitnessinstructor that provide insurance and a broker that might be able to give you a bespoke service based on your needs. However, you can shop around yourself and get the best package for you.