Gym Insurance Policy

Considerable Factors in a 24 Hour Gym Insurance Policy

People are getting more concerned about their physical fitness these days but everyone has different expectations. Every day, you meet people who are looking for exhibitive six-pack abs, a huge muscular body,  or just a normal fit body. As a gym owner, you must have seen people subscribing to long-term subscription packages but don’t come regularly just because of their busy life routine. How about providing them more flexible options by keeping your gym open 24X7? That sounds great but also involves some new risk factors. The unstaffed gym business culture is trending nowadays because of the following benefits:- 

  • More engagement with customers
  • Attracts new customers looking for flexible plans
  • Decreases staff expenses 
  • Better profit margin

Along with these benefits, you also have to be aware of its negative sides such as:- 

  • Lacking in all service plans implementation
  • Inadequate trainer support
  • More risk of injuries 
  • Property damage risk 
  • Cleaning issues

Some of these issues are manageable if you have a feasible 24-hour fitness policy. Let’s elaborate on this type of insurance in detail. 

24-Hour Gym Insurance Policy

As the name is illustrating, this kind of insurance is meant for gyms offering 24X7 services. A member can access any time according to his/her convenience. Card punching or biometrics attendance systems are installed at these places to keep the record of all visitors. An insurance policy specifically tailored for this type of business model is necessary. An insurance company will cover your fitness business from potential risk factors only after meeting some eligibility criteria. Below is a list for your convenience:- 

  • Adequate CCTV surveillance is necessary for gyms providing 24X7 service. You may need to maintain the CCTV record of the previous 3-4 months to become eligible. The terms and conditions section mentions this requirement clearly. 
  • An electronic passage such as card entry, code entry or biometrics entry should be installed on the gate. 
  • First aid arrangements for every emergency situation should be available. 
  • You must maintain the equipment maintenance schedule properly in order to become an eligible applicant. 

Considerable Exclusions

A 24X7 gym insurance policy also involves some exclusions. In some special cases, they don’t cover risk factors. For instance, they don’t cover your pool, sauna or spa areas. Also, the insurance policy may void if the security or surveillance system is not working. Read their terms and conditions list carefully to check all exclusions. 

Finding a Reliable Insurance Company

Choose a gym insurance service provider dealing specifically in commercial insurance policies. It becomes apparent on your first meeting with the agent whether he/she is interested in safeguarding your business or just selling an expensive policy. Instead of a video call, book a face-to-face consultation session to clarify things with adequate transparency. Ask them about their previous insurances relevant to the gym business model. Do some research on their ease of claiming by reading the comments of previous or already existing customers.

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