Thinking about seeing a few clients in my home gym. I have contacted many insurance companies and they will not allow an in-home fitness business on their homeowners policies. I asked another local trainer I know and she does not have her business on her insurance. This is not a chance I want to take.
Thanks Steve and Karin – I have my liability insurance as a trainer through Fitness and Wellness Insurance, but it is my homeowners insurance that said they will drop us from our policy if we start an in-home fitness business. Upon finding this out, we have contacted at least 8 other insurance companies who have said the same thing – they will not give us a homeowners policy with an in-home fitness business. My business is a licensed LLC.
I agree with all that Stephen and Karin say here. I also have a studio in my home. Between incorporating (actually I have an LLC), tightly written “waiver forms,” liability insurance coverage (both for your studio and for you), and good practices, you should be covered. I would NEVER go uncovered in this litigious society. Also, I think it’s good business to talk to an insurance agent that you trust, and let them know your plans, and lastly speak with an experienced business attorney (it’s worth the 1-hour consultation fee).
I hope this helps.
Susan’s comment needs to be addressed- be sure you can have an in-home business. Some cities restrict it due to traffic flow in neighborhoods.
I am in similar situation as you. i have an in-home studio and average 25-30 appointments weekly. Due to the increased risk/exposure, my homeowners insurance cancelled my policy. My insurance agent indicated the cancellation was due to the increase in “foot traffic” i.e. more people at my house than would typically occur at a residence. The fact that it is a personal training studio is irrelevant. My business liability insurance covers that aspect.
Luckily my agent was able to locate an insurance company willing to underwrite a policy so I do have homeowners insurance. My agent located the company through an general agent, Burns & Wilcox LTD.
Bottom line- do not risk training clients in your home without the proper insurance. Your business
liability insurance covers only what occurs during training. Your homeowners insurance covers what can happen when your client(s) are on your property. . If a client slips and falls on the steps, it is NOT related to his/her training, therefore your homeowners insurance would cover the costs for any claims, if,and only if you have coverage for an in-home business. If you do not have the proper coverage, you’re putting yourself and your assets in financial risk.