Learn about business insurance requirements and the most common policies for personal trainers in Michigan.
Which policies are required for personal trainers in Michigan?
If you have a commercial lease, your property manager may require you to purchase general liability insurance. Commonly purchased by personal trainers in Michigan, general liability insurance can protect your business from expenses associated with common mishaps, such as client property damage and injuries.
State law in Michigan requires every small business that employ three or more workers at any given time to provide workers’ compensation insurance, which covers medical bills for work injuries.
What are the most common policies for Michigan personal trainers?
The most common policies for personal trainers in Michigan vary depending on the value of your business property, the number of employees, and other factors.
Business owner's policy (BOP)
Personal trainers often qualify for a business owner’s policy. This package helps your business save money by bundling commercial property insurance with general liability insurance at an affordable rate. It protects your business property and guards against common third-party lawsuits, making it the policy most often recommended by Insureon’s licensed agents.
General liability insurance
General liability insurance is the foundation of a personal trainer’s business protection, with coverage that extends to accidental client injuries, client property damage, and advertising injuries. Most commercial leases require you to have this coverage.
Michigan workers' compensation
Michigan state law requires workers’ compensation coverage for businesses that employ three or more workers at any given time. Even if you’re a sole proprietor, workers’ comp can be a wise decision. Personal trainers face a high risk of injury, and if you’re sidelined for an extended length of time, it could have a tremendous impact on your business. Workers’ comp can help pay for medical bills and lost wages, keeping your business stable in the event of injury.
Professional liability insurance
Professional liability insurance for personal trainers can cover legal expenses related to work mistakes, such as a client who claims your lifting technique led to injury. If you’re sued for unsatisfactory results or a client injury, this policy will help pay the cost of hiring a lawyer, along with a settlement or court-ordered judgment.
What do personal trainers in Michigan pay for business insurance?
One of the biggest considerations for any small business is how much insurance will cost. The chart below illustrates median insurance costs for personal trainers in Michigan as compared to the national median.
Workers’ comp costs are relatively low at $484 annually. However, both professional liability and business owner’s policies for personal trainers in Illinois chart higher than the national median.
Save time and money with Insureon
Insureon’s industry-leading technology helps personal trainers in Michigan save time and money shopping for insurance by comparing policies from top U.S. carriers. Start a free online application to review quotes for the policies that best fit your business. Our insurance agents are licensed in Michigan and can answer your questions as you consider coverage.
To make the application go quicker, have this information ready:
- Workforce details, such as the number and types of employees
- Current and projected revenue
- Business partnerships
- Insurance history and prior claims
- Commercial lease insurance requirements
Apply for free insurance quotes for personal trainers today.