Gymnastics Club Insurance

General liability insurance, also called premises liability insurance, covers accidents at your gymnastics center that cause an injury. Most policies include the following:

• Participant legal liability coverage pays for your legal defense costs if a gymnast or other third party sues over a bodily injury or property damage that happened at your business.
• Accident medical insurance covers immediate medical treatment if someone is injured at your gymnastics center, regardless of fault.

Gymnastics clubs often require their members to sign liability waivers, due to the risks associated with the activity. Though this reduces your liability, you'll still want to carry professional liability insurance to protect against accusations of gross negligence or a disregard for safety.

High-risk activities, such as martial arts or parkour, might be listed as exclusions on your policy, though it’s still possible to secure coverage for these risks and others.

If you offer gymnastics classes, competitions, birthday parties, or fundraisers at locations other than your club, you may need the following insurance policies:

• Special event insurance provides liability coverage for events that differ from your day-to-day operations.
• Inland marine insurance covers business equipment that travels to off-site events, such as gymnastic bars, landing mats, and balance beams.

It's also possible to get coverage for some events included in your general liability insurance, depending on your insurance provider. For concerns about any unique risks, such as trampolines or inflatables, check with a licensed agent to make sure your business is fully protected.

Owners of gymnastics clubs often depend on these policies as part of a comprehensive risk management plan:

• Commercial property insurance covers your gymnastics facility and its contents, also called business personal property (BPP). You might also need equipment breakdown insurance to cover essential equipment, such as a furnace or air conditioner that might suddenly break down and require repairs.
• Business income insurance helps your business recoup financial losses after a fire or other covered property claim forces you to close temporarily. It's also called business interruption coverage.
• Crime insurance comes in different forms. Employee dishonesty coverage protects your business against employee theft, while a fidelity bond protects your clients.
• Commercial umbrella insurance boosts the protection of a gymnastics club's other liability policies, such as general liability, commercial auto, and employer's liability insurance.
• Directors and officers insurance (D&O) covers legal defense costs if a board of directors member or officer is sued for a decision they made on behalf of your club.
• Catastrophic insurance offers protection against rare and high-cost events, such as floods, earthquakes, kidnapping, and terrorism.
• Sexual misconduct or molestation insurance protects against claims of sexual abuse or exploitation, which is a risk of working with children and young adults.