Compare Personal Trainer Liability Insurance
Not all personal trainer insurance providers offer the same protection or coverage. This is why it’s important to research the best personal trainer insurance plan for you. We’ve made that part a little easier with this comparison of personal trainer insurance plans. We’ve got the inside scoop on coverage costs, which provider provides what coverage, and how to choose which provider is right for your needs. The information we gathered is available on each provider’s website.
IDEAFIT Personal Trainer Insurance
IDEA Health & Fitness Association offers professional, general, and product liability coverage for personal trainers. Like NACAMS, IDEAFIT will pay up to $2 million per occurrence for professional and general liability claims. However, IDEAFIT will only cover up to $1 million for product liability claims with an annual aggregate of $4 million.
IDEAFIT Policy Highlights
IDEAFIT offers two primary options for personal trainer insurance. For the basic plan, your coverage includes professional, general, and product liability coverage and some basic benefits. The basic membership and coverage plan is as low as $111 per year but does not include many member perks. The second option they offer is the IDEAFIT+ membership & coverage plan. This plan offers no additional coverage but provides policyholders with a broader range of benefits, such as educational resources and business tools.
Although IDEAFIT offers many benefits, they are at a higher cost of $290 per year. This additional cost may deter some personal trainers. Compared with NACAMS, IDEAFIT also does not offer coverage for many situations that personal trainers may encounter. For example, IDEAFIT does not offer coverage for damaged or stolen equipment. As a personal trainer, the equipment you use every day can be a costly expense to replace. Without any protection on your investment, you could be paying the entire bill if your gear is damaged or stolen.
Another area IDEAFIT does not cover is identity theft protection. In the modern age, your online presence is essential to growing your brand and business. While this is a great opportunity, it also can be a liability. Increased online presence means increased opportunities for hackers to steal your personal information and wreak havoc on your finances. IDEFIT does not offer any protection for your identity, which means you would need to purchase that coverage in addition to your personal trainer insurance.
While IDEAFIT certainly has a lot to offer in the way of a high annual aggregate and educational resources for their plus members, they lack coverage in other areas. You will want to take this into consideration when you are ready to purchase fitness instructor insurance.
Philadelphia Insurance Companies offers flexible coverage for personal trainers and fitness professionals. Like most of the insurance companies on our list, PHYLY offers professional, general, and product liability in its base plan. For general and professional liability claims, PHYLY offers coverage of up to $1 million per claim with an annual aggregate of up to $3 million. PHYLY offers a yearly aggregate of $1 million for product liability claims. They offer a fast application process and a few customizable options for personal trainer insurance.
PHYLY Policy Highlights
With several customizable options for policies, PHYLY advertises tailor-made fitness instructor insurance plans. Though the base plan is a $3 million aggregate for professional and general liability claims, you can increase that limit for additional fees. Additionally, PHYLY provides coverage for automobiles and crime and fidelity benefits.
As far as cost, PHYLY offers two different base prices for certified and non-certified personal trainers. For certified personal trainers, the annual cost is $172. For non-certified personal trainers, the cost is $232 per year. The individualized costs and plans help to provide coverage for different career stages and accommodate a variety of budgets.
A significant difference between PHYLY and some of the other insurance companies on our list, including NACAMS, is that PHYLY only offers claims-made insurance instead of occurrence-form insurance coverage. Claims-made insurance only allows coverage during the term of the policy. Meaning if an incident occurs while the policy is in place, but the claim is made after the end of the term, you are not eligible for coverage. This is in contrast to occurrence-form coverage, in which you are covered for incidents that occur within the policy term, even if the claim is filed after the policy expires. This is the preferred form of insurance as it provides a grace period for the claim to be filed.
Furthermore, the base plan from PHYLY does not include coverage for several items, such as rental property, equipment, or identity theft protection. While they may have a lower premium in comparison to some other providers, PHYLY seems to lack the basic coverage that other companies include with the basic package. This lack of coverage areas may be a significant deciding factor when you shop for personal trainer insurance.
HISCOX is a small business insurance company that provides insurance for multiple industries, not just health and wellness. As a major name in the industry, HISCOX offers up to $2 million per occurrence for general and professional liability claims with an annual aggregate of $3 million. However, HISCOX does not offer coverage for product liability claims. If a client is hurt due to a product or equipment you use, you may not be eligible for coverage. At $853 per year, HISCOX has one of the highest annual premium costs for fitness instructor insurance on our list of competitors.
HISCOX Policy Highlights
One benefit of choosing HISCOX as your insurance provider is they have a nationwide presence and reputation. As a primary insurance provider for many small businesses and professionals, HISCOX has significant resources to offer its policyholders. Their online process is simple and fast to complete, and your coverage will start immediately.
Unlike other providers on our comparison list, HISCOX does not offer industry-preferred occurrence-form coverage. Because claims-made coverage is HISCOX's only option, it could expose you to a liability claim if it is filed after your policy term has ended. While you get the benefit of a nationally-recognized insurance provider, you may find the lack of coverage surprising.
In addition to only providing claims-made insurance, HISCOX does not offer coverage for several areas. HISCOX will not provide coverage for product liability claims, identity theft protection, damaged or stolen equipment coverage, or rental property damage. Combining these coverage gaps and the high annual premium, HISCOX seems to fall short of some of the other options on our list. When you are ready to shop for personal trainer insurance, you will want to consider these factors carefully before making your final decision.
Next is a small business insurance company that covers a wide range of industries. Providing coverage for professional, general, and product liability claims, Next has its basics covered for personal trainer insurance. For professional and general liability claims, Next offers up to $1 million per occurrence with an annual aggregate of $3 million. Next also includes up to $1 million in coverage for product liability claims. Though you can get an instant quote for personal trainer insurance, the base price is $166 per year.
Next Policy Highlights
Next stands out in our list for offering rental property damage coverage. If you rent the space you work out of, Next will provide up to $100,000 in coverage to help cover the cost of damages. For most fitness professionals, having this coverage is a significant help in securing their finances. Another potential benefit that Next provides is its three options for plans. Each of Next’s plans features different perks, and coverage amounts to best suit the needs of their policyholders. With flexible plan options, we have to give kudos to Next for the range of coverage options for personal trainers.
However, there are some key differences in the coverage that Next offers and NACAMS.
For example, Next does not offer coverage for identity theft. If an online predator steals your information, you could end up losing a significant amount of money and resources. Additionally, Next does not cover your equipment. Without this coverage, you would have to cover the entire cost of replacing damaged or stolen equipment. While they may offer a comparable premium, you will want to look closely at the coverage they do and do not provide before choosing Next as your insurance provider.
Consider NACAMS for Personal Trainer Insurance
We know there are a lot of options out there for your fitness instructor insurance. Deciding which provider best suits your needs is a major decision and shouldn’t be made without thorough research. Whichever company you choose, we want you to be able to make an informed decision. That’s why we put all of our policy information, including coverage and price, right up front where it’s easy to find. We even post our competitors’ information just so you don’t have to do a bunch of clicking back and forth.At the end of the day, NACAMS supports health and fitness professionals with accessible, affordable, and comprehensive insurance. Take a deeper look at our personal trainer insurance and get insured today.
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I chose NACAMS insurance after an extensive research and I’m very happy about my choice. They provide great assistance and their follow up is wonderful too. The insurance is well planned and better than the regular once’s available online. They are dependable!!!