Insurance is an important consideration when you are starting a personal training business. Unfortunately, many personal trainers and other small business owners ignore the importance of adequate insurance – to their detriment.

Why Your Business Needs Insurance

A business of any size needs insurance. It is important to take out the right insurance policies in order to:

  • help protect your business
  • minimise you business’ exposure to risk
  • ensure that you’re financially able to compensate others should a situation arise where you are at fault

What Insurance Does a Personal Training Business Need?

There are many different types of insurance. The specific types of insurance that you will need will depend on the nature of your particular personal training business. Some types of insurance – that you might need to consider – cover:

  • a home-based business: any existing insurance for your home and household contents might not cover your business or your personal training clients
  • public liability: this protects you against the financial risk associated with death, injury, loss or damage to property, or economic loss
  • your assets and revenue: this protects your assets as well as your revenue-generating capacity
  • yourself: in the event of a personal accident or illness (this includes life insurance and income protection)
  • professional indemnity: this protects you from any legal action should any of your advice lead to losses
  • product liability: this is important if you are selling or supplying any fitness-related (or other) products