Make sure you properly insure your health and fitness business in 2014

February 24, 2014

Many, maybe most, New Year’s Resolutions focus on health and fitness. Small business owners in this field should also resolve to make sure they’re properly insured.

If you’re a sports and/or beauty small business owner, you know that the start of a new year often means a surge in business.  New Year’s resolutions are still popular, with 45% of Americans usually making them.  And those resolutions lead them to get fitness trainers, increase purchases of sporting goods, make appointments with cosmetologists and a wide range of other wellness professionals.

While you’re busy answering the phone and scheduling appointments during the first couple months of the New Year, take a moment to reflect on your small business insurance coverage.  Since your business revolves around providing guidance and professional services you run the risk of being sued – sued for over exertion or injury sustained while following your fitness plan, sued for what your client perceives as an overzealous facial, sued for something as simple as a client tripping over a gym bag or power cord. To protect you from these and other, consider general liability insurance and professional liability coverage.  General liability protects your business from third party claims for bodily injury, associated medical costs and damage to someone else’s property, while professional liability protects you if clients aren’t satisfied with your work and decide to pursue legal action, whether you actually made a mistake or not. Now that you know more about the small business insurance you need, where do you get it?  You’ll want to select an insurance partner that offers coverage tailored for businesses like yours, one that understands the risks in your field.  Basically, a partner like Hiscox.  Our passion for service, knowledgeable agents and pricing, make us an insurance provider worth investigating.  So go on, investigate the types of small business insurance coverage we offer for fitness and beauty professionals like yourself.

The contents of this article and the linked materials do not offer legal, business, or insurance advice related to the needs of any specific individual business. Small business insurance underwritten by Hiscox Insurance Company, Inc., a Chicago based insurance company that is rate A (Excellent) by A.M. Best. License#: 0F09668. Coverage is subject to underwriting, terms, conditions, and limits of the policy, and is not available in all states. Claim scenarios are for illustrative purposes only and are subject to the terms and conditions of the policy in question. Please consult your professional advisor.