Compare business insurance quotes with Savvy to find the best policy for your personal training business.
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As a fitness instructor or personal trainer, it’s your job to provide unique exercise and dietary plans that will help your clients reach their weight loss and fitness goals. Because you work so closely with clients in a confidential setting, it’s vital that you’re covered just in case claims are made that could damage your business’ reputation.
You can compare quotes for many types of business insurance right here with Savvy. Just answer a few simple questions about your business and the type of insurance you need, and within minutes you’ll have multiple quotes from a range of respected insurers to compare. Take advantage of our quick and easy comparison service to make sure you get the best-value insurance for your fitness business today.
There are several types of business insurance you should seriously consider if you run a personal fitness and training business. These include:
Professional indemnity insurance
Professional indemnity insurance covers you against claims that the advice, recommendations or service you provided were either wrong or negligent. This type of insurance can offer you protection against many types of claims, including:
Cover starts at $250,000 and goes up to $5 million or more. This is a compulsory type of insurance for entry to many professional associations and to gain certain accreditations. It’s also often a requirement to work at many gyms or to hire personal fitness or training studios for workout sessions.
What it covers
Public liability insurance
Public liability insurance is also essential for anyone who works with the public, including holding fitness or exercise classes outdoors on council land. It will cover you against claims that your fitness business activity caused injury to a member of the public or damaged their property.
This insurance is available for amounts of up to $5 million, $10 million and $20 million, although $2 million in cover is often the minimum required amount by councils to hold exercise or fitness classes in open public spaces.
What it covers:
Contents/portable equipment insurance (with general business insurance)
Business contents insurance may also be worthwhile if you have expensive fitness equipment to protect. This may either be portable equipment such as kettle balls and barbells, or fixed exercise machines which may be installed in a gym or exercise studio. This type of insurance can also cover any perishable stock you may sell such as vitamins and supplements.
Commercial vehicles aren’t included in general business insurance, so you may need separate commercial vehicle protection for your work vehicle.
What it covers:
What isn’t covered under business insurance for fitness instructors and personal trainers?
The most common general exclusions include:
There is no set cost for an insurance policy, as each applicant is different and faces unique risks. Many factors influence the cost of public liability insurance and general business insurance, including the following:
The main factor which will affect the cost of your insurance is the industry you’re in. All businesses in Australia are classified according to the risk their industry poses and are allocated a risk ratio. These ratios are used by insurers to calculate the comparative risk of any one business compared to another. Therefore, the cost of insurance for one fitness business based in South Australia may be similar to one based in Western Australia.
You can find out how much insurance will cost for your business by comparing quotes right here with Savvy. Whether you need insurance for a personal training company or a massage or alternative therapy business, you’ll be able to find a policy that is perfect for your business needs right here.
Any situation where you are offering a highly personal (and sometimes confidential) service to the public comes with its own risks. A client may be disappointed with their lack of weight loss, for example, and blame their fitness instructor or trainer. There are numerous ways in which personal and fitness trainers can come into the firing line, which is why it’s so important to have good business insurance protection.
Most small to medium-sized businesses have some contingency funds to fall back on, but rarely have sufficient to cover the cost of a major catastrophe. For example, if someone suffers a serious spinal injury in your fitness studio, the personal injury claim could amount to millions of dollars. If this happens and you have adequate insurance to protect you and your business, you’ll have a far higher chance of recovering and getting back on your feet quickly.
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Disclaimer:
Savvy is partnered with BizCover Pty Ltd (ABN 68 127 707 975, AFSL 501769) to provide readers with a variety of business insurance policies to compare. Savvy earns a commission from BizCover each time a customer buys a business insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via BizCover.
Savvy does not compare all business insurance policies or providers currently operating in the market. Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.
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© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
