New Year, New Gym Memberships
Every January 1, thousands of people set personal goals for the new year. The majority of these New Year’s resolutions — two-thirds according to Bodybuilder.com — are health-related, such as eating better and losing weight.
The fitness industry spends substantially more advertising money toward the end of each year to capitalize on this resolution trend. In a recent survey of nearly 6,400 fitness centers in the U.S., the International Health, Racquet & Sportsclub Association (IHRSA) found that 11% of all gym membership sales take place in January, which is more than any other month of the year.
Gym memberships can assist in keeping individuals on track to achieve their New Year’s fitness resolution, and the Devon Park Specialty and USLI Fitness Center product can provide business owners with the proper insurance coverage. Our product is specifically designed to target a multitude of workout facilities including health clubs, gyms, circuit training, yoga and Pilates studios.
Some of our product features include:
- Ability to consider liability coverage for up to $5 million in receipts
- Primary limits up to $2 million/$4 million
- No liability deductible
- Personal trainers and child-sitting services included for no additional charge
- Additional services can include pools, sports courts, massage services, tanning beds, hot tubs, and steam rooms
- Professional liability coverage provided for no additional charge
- Ability to offer hired and non-owned auto liability coverage and molestation and abuse coverage starting at $100,000 per occurrence/$300,000 aggregate limit
- Property limits up to $10 million per location (where available)
As their membership counts increases this season, it’s important that fitness centers have adequate coverage in place. Contact your Commercial Lines underwriter for more details about our Fitness Center product.
As always, thank you for your support and business.
Contact Cheryl Ryan,
Executive Vice President, Division Leader | 844-438-6775, ext. 2582
Written by Danielle Conner
December 5, 2019