Approx how much insurance would a gym pay?

Question

Wanting a rough estimate on how much a gym would fork out per month in insurance. A gym with about 6 employees, weights, cardio, PT and aerobics classes.

Answer 1

This would be considered commerical insurance in the US. If you are having Physical Therapy in the gym you will need to have slightly different insurance. Call a big name company and tell them you want a quote for commercial insurance. They will ask you a bunch of question about the type business and the amount of risk. They will tell you that you need to have all of your clients sign releases not to sue you in the case of an accident. They will make you do all kinds of things to ensure that the facility is proper working condition and that is meets safety standards. Then they will give you a price.

It won't be cheap. Probably a few thousand a year at least but commercial insurance takes into account such a wide range of factors that it is difficult to give an estimate without a lot more info.

Just call a local agent!!!

Answer 2

Call an insurance broker they will source the cheapest insurance for you. If your in Australia most business insurances need to be paid by the year but you can fund them (a loan) called premium funding.