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How much does insurance cost for sports and fitness professionals?

Several factors contribute to the cost of sports and fitness business insurance, including the size of your business and its risks. Cost estimates are sourced from policies purchased by Insureon customers.

Business owner’s policy icon

Business owner’s policy costs for sports and fitness professionals

Sports and fitness businesses pay a median premium of less than $70 per month, or $810 per year, for a business owner’s policy. This policy combines general liability insurance with commercial property insurance, typically at a lower rate than if the policies were purchased separately. You can also bundle it with professional liability insurance for even better savings and more complete coverage.

A BOP protects against third-party injuries and property damage, along with damage to your own business property. Because of a BOP’s increased coverage and affordability, it’s the policy most often recommended by Insureon’s licensed agents.

Learn more about business owner’s policy.

The cost of a BOP depends on your business property

Among sports and fitness businesses that purchase a business owner’s policy with Insureon, 28% pay less than $600 per year and 43% pay between $600 and $1,200 per year. The cost varies depending on the value of your business property.

Cost of a business owner's policy for sports and fitness professionals.

Which business owner’s policy limits do sports and fitness professionals choose?

Most sports and fitness businesses (94%) choose a business owner’s policy with a $1 million per-occurrence limit and a $2 million aggregate limit.

General liability insurance icon

General liability insurance costs for sports and fitness businesses

Sports and fitness businesses pay a median premium of less than $30 per month, or $350 per year, for general liability insurance. This policy provides protection for third-party bodily injuries and property damage, along with advertising injuries.

Insureon’s licensed agents typically recommend a business owner’s policy, which bundles general liability and property insurance at a discount to protect gyms and other fitness property. You can also add professional liability insurance to a BOP or general liability policy for further savings.

Learn more about general liability insurance.

Your business risks affect the cost of general liability

Among sports and fitness businesses that purchase general liability with Insureon, 71% pay less than $400 per year and 21% pay between $400 and $800 per year. High-risk businesses tend to pay more for this policy.

Cost of general liability insurance for sports and fitness professionals.

Common general liability policy limits for sports and fitness businesses

Policy limits determine how much your insurer will pay on covered claims. A per-occurrence limit is the maximum your insurer will pay for a single incident, while an aggregate limit is the maximum your insurer will pay on any claims during your policy period, typically one year. Higher limits cost more – and provide better coverage.

Most sports and fitness professionals (89%) choose general liability policies with a $1 million per-occurrence limit and a $2 million aggregate limit. As your small business grows, you may need to expand your policy limits.

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Workers’ compensation insurance icon

Workers’ compensation insurance costs for sports and fitness businesses

To meet your state’s requirements and avoid penalties, sports and fitness businesses with employees typically must purchase workers’ compensation insurance. This policy helps cover medical bills and partial lost wages when an employee suffers a work-related injury or illness. With a median premium of $75 per month, or $900 per year for sports and fitness businesses, policy cost is determined by your number of employees and their occupational risk, among other factors.

Learn more about workers’ compensation insurance.

Workers' comp costs depend on the number of employees

Among sports and fitness businesses that purchase workers’ compensation insurance with Insureon, 19% pay less than $600 per year and 56% pay between $600 and $1,200 per year. The cost depends primarily on the number of workers and their level of occupational risk.

Cost of workers' compensation insurance for sports and fitness professionals.
Professional liability insurance icon

Professional liability insurance costs for sports and fitness businesses

Sports and fitness professionals pay a median premium of less than $35 per month, or $400 per year, for professional liability insurance. Also known as errors and omissions insurance, this policy offers critical coverage for personal trainers, yoga teachers, and other fitness professionals whose work depends on their expertise.

Professional liability insurance can help cover the cost of lawsuits related to professional mistakes and accusations of negligence. Sports and fitness professionals can often add this policy to their BOP or general liability policy for increased coverage and savings.

Learn more about professional liability insurance.

Your risk of a lawsuit drives the cost of professional liability

Among sports and fitness businesses that purchase professional liability insurance with Insureon, 38% pay less than $400 per year and 50% pay between $400 and $800 per year. The cost is determined by the likelihood of your business being sued over a professional mistake, such as an injury caused by your training.

Cost of professional liability insurance for sports and fitness professionals.

Professional liability policy limits for sports and fitness businesses

Many sports and fitness businesses choose professional liability policies with a $1 million per-occurrence limit and a $1 million aggregate limit (38%). Another 38% of sports and fitness businesses choose policies with a $250,000 per-occurrence limit and a $250,000 aggregate limit.

Compare quotes from trusted carriers with Insureon

Insureon’s sports and fitness business insurance agents work with top-rated U.S. carriers to find affordable coverage that fits your business. Apply today to compare multiple quotes with one free online application. Work with an account manager specializing in the unique risks of gyms and fitness centers, personal trainers, and yoga teachers.

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