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Singapore's best coverage for your gym against fire, public liability, employee injuries, & more.
As a gym owner, your customers rely on you to provide a fun but safe workout environment. But with lots of physical activity comes the risk of injuries. If customers get injured on your premises, you can be held liable for personal injury, even if you weren’t directly responsible for causing the injury. Also, gym staff are at high risk of getting injured while working, and are at elevated risk of contracting Covid-19 infections. If a fire were to occur, you could end up out-of-pocket for tens or hundreds of thousands of dollars.
Provide offers gym owners the easiest & quickest way to protect their fitness business. Get a broad & affordable gym insurance package to protect your company today.
What does Gym Insurance cover?
Gym owners require a few key types of insurance to cover their risks:
Coverage | Explanation | Importance for gym owners |
Protects your gym premises against property damage, e.g. fire, explosions, certain types of water damage, etc. | Critical | |
Protects you against liability to third-parties for property damage or injuries. E.g. customers slipping & falling in your gym due to you negligently leaving the floor wet. | Critical | |
Protects your gym employees if they suffer work-related injuries/sickness. | Legally required for all manual workers (e.g. fitness trainers), or workers who earn <$2,600/month | |
Provides cash benefit if you cannot operate your gym due to covered reasons, e.g. fire at your gym premises. | Very good to have | |
Covers medical expenses incurred by foreign workers. | Legally required for S-Pass and Work Permit holders |
Commercial Property Insurance: This type of insurance is also commonly known as “Property All Risks” or “Industrial All Risks” Insurance. Basically, it covers your gym against property damage. This covers you against fire, explosions, certain types of water damage, burglary, vandalism, and more.
This policy will cover your property, such as: gym premises, gym machines, free weights, renovations, fixtures & fittings, furniture, inventory (e.g. protein powder) and other miscellaneous property.
Public Liability Insurance: This provides cover if clients in your gym accidentally suffer injuries due to your negligence. For instance, if clients slip and fall because of a wet puddle you left on the floor, they could sue you for personal injury. Public Liability Insurance can cover you for the personal injury damages and lawyer’s fees.
Work Injury Compensation Insurance (WICA Insurance): WICA Insurance is absolutely vital for gym owners. MOM legally requires business owners to cover all manual workers, and workers who earn below $2,600/month. The vast majority of workers in a gym are likely to perform manual work. Manual workers would include: fitness trainers, gym instructors, cleaners, gym machine repairmen, and general workers who perform various physical labour (e.g. help with putting weights back on their racks).
Coverage for your gym employees includes work-related injuries and sickness, including Covid-19 infections. Gyms are one of the more likely sites for Covid infections, so it’s important that you purchase this coverage. For instance, one of your waiters gets Covid-19 after interacting with customers, and spreads it to all your other staff. This insurance will pay for lost wages while quarantined, medical expenses, and legal expenses if your workers sue you for creating an unsafe work environment.
Business Interruption Insurance: Pays you a benefit if you cannot operate your gym due to covered major risks, like a fire. Helps you to defray costs like rent, salaries, utilities, and other expenses while your business is not generating revenue. Very useful to have.
Foreign Worker Medical Insurance: Legally required for all S-Pass and Work Permit holders. You must have a Foreign Worker Medical policy for each foreigner.
What are some claims examples for Gym Insurance?
Fire breaks out at your gym: One of your electrical sockets malfunctions in the middle of the night. A fire starts, and eventually destroys your entire gym premises. Everything you invested into the gym is lost.
Commercial Property Insurance would pay for restoring your gym to its original condition. It would cover removing the debris, and rebuilding the gym. It would cover renovation costs, the cost of bringing in new equipment, and also replacements for any product inventory – like supplements – you might have lost. It would also pay for a surveyor and architect to come in to ensure your rebuilt gym is constructed properly.
Customer slips on the floor, suffers head injury: One of your staff negligently leaves the floor wet after mopping your gym. The staff also doesn’t put up a warning cone to alert customers that the floor is slippery. A customer slips and falls, and suffers a fracture on their head. The customer develops a blood clot, and has to undergo surgery to alleviate the swelling.
Public Liability Insurance would cover your legal fees, and the settlement that you might have to pay out.
Fitness trainer breaks arm, and contracts Covid-19: One of your fitness trainers suffers a stress fracture after repeatedly teaching boxing classes. He breaks his right arm, and has to undergo surgery to correct the fracture. His medical bills are $25,000. He is placed on MC for 4 weeks, which you must legally compensate him for. WICA Insurance would pay for his medical bills, and his lost wages.
How much coverage do I need?
Commercial Property Insurance: For a 1,000 sq feet gym, most gym owners will need a minimum of $100,000 coverage. Consider adding on an additional $100,000 coverage, for every 1,000 square feet in gym space.
Public Liability Insurance: Most gym owners should carry at least $500,000 to $1 million coverage. The majority of landlords will ask for these coverage amounts.
WICA Insurance: MOM requires $45,000 medical expenses cover per worker. This is a legal requirement under WICA (Work Injury Compensation Act) regulations.
Business Interruption Insurance: You should consider how much gross profit you would lose if you can’t operate your gym for 3-6 months. For most gym owners, you should consider at least $50,000-$100,000 in coverage.
Foreign Worker Medical Insurance: MOM requires businesses to have $15,000 coverage per foreign worker.
How much does Gym Insurance cost?
As a gym owner, you should consider having a Gym Insurance Package Deal. This provides you with comprehensive cover, at the most affordable premium. A Gym Insurance Package includes:
Coverage | Coverage amount (example) | Premium |
$100,000 | From $19/month, for a comprehensive Gym Insurance Package deal | |
$500,000 | ||
$10 million common law annual limit $45,000 medical expenses cover per worker | ||
$10,000 | ||
$15,000 cover per worker | From $6/month, per worker |
What are the benefits of using Provide for Gym Insurance?
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