Learn about business insurance requirements and the most common policies for personal trainers in New York.
Which policies are required for personal trainers in New York?
If you have a commercial lease, your property manager may require you to purchase general liability insurance. Commonly purchased by personal trainers in New York, general liability insurance can protect your business from expenses associated with common mishaps, such as client property damage and injuries.
State law in New York requires every small business with employees to provide workers’ compensation insurance, which covers medical bills for work injuries.
What are the most common policies for New York personal trainers?
The most common policies for personal trainers in New York 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.
New York workers' compensation
New York state law requires workers’ compensation coverage for all employees. This coverage helps offset medical costs and lost wages due to on-the-job injury.
Personal trainers and their employees face numerous risks due to the physical nature of their work. If you or an employee is injured on the job and out of work for an extended length of time, your business could suffer significant financial losses.
Professional liability insurance
Professional liability insurance for personal trainers can cover legal expenses related to work mistakes, such as a client who claims your weight-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 New York pay for business insurance?
One of the biggest considerations for any small business is how much insurance will cost. The chart below shows median insurance costs for personal trainers in New York as compared to the national median, according to an analysis of Insureon applications.
Professional liability insurance for personal trainers costs about the same in New York as it does nationally, but general liability and business owner’s policies are more expensive. Workers’ comp insurance, in contrast, is almost $500 less for personal trainers in New York than the national median premium.
Save time and money with Insureon
Insureon’s industry-leading technology helps personal trainers in New York 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 New York 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.