Having the right kind of insurance is an important part of any business, and personal training is no exception. You want to push your clients to the limit, without worrying that you may be at risk should anything unforeseen happen.
To make things simpler, we’ve compiled a few common mistakes people make when dealing with insurance.
1. Assuming they don’t need it.
- This is the most critical mistake that people make. Unfortunately, it is also one of the most common. Having insurance isn’t just the responsible thing to do, it could save your business and livelihood.
- Example: A trainer is working with his or her client. The client does not properly follow the trainer’s instructions, and performs an exercise improperly. As a result, they injure themselves. Without insurance, the trainer would have to foot the bill for any defense costs if they decide to sue, rightly or wrongly.
2. Not purchasing the proper type of insurance.
- Many businesses carry insurance, but aren’t fully aware of the finer points. It is important that you speak with a knowledgeable broker about what options will give you the best coverage. Keep in mind that your business may change over time, and as your business changes, your insurance needs might also change.
3. Not properly assessing the amount of insurance needed.
- A trainer can make a mistake by not taking into account who their client is. For example, if their client is an aspiring professional sports player, the damages from a lawsuit that takes their future earnings into account could be incredibly high. It is also possible that their local municipality requires a minimum amount of insurance in order to operate properly within regulations. These are all factors that should be taken into account when determining how much insurance is needed.
4. Not properly disclosing operations.
- If the trainer is working outside of the scope of their operations, are they properly covered? For example, a personal trainer might set one of their clients up with a meal plan. But if they aren’t a dietitian, that could be a service that lies outside of the scope of their operations, and their insurance policy might not respond to any claims that arise.
5. People assuming they don’t need their own insurance coverage.
- Just because the gym you work at or for has coverage, doesn’t mean you’re necessarily fully covered for everything you do there. For example, if you bring clients in for a private session, make sure you’re still covered by the gym’s policy, or you have your own insurance. Either way, look at the gym’s policy and learn how much coverage they have.
Many people consider insurance to be something of a burden. But you pay for other things for your business, like tools, marketing and education, and insurance should be no different. Insurance has other benefits for personal trainers:
- It is a tax writeoff as a business expense
- It adds legitimacy to your business.
- It can add to your marketing, as clients will know you’re a professional who takes risk and responsibility seriously.