New Equipment? How Insurance Ensures You Get the Most from It

By Darragh Timlin on September 1st, 2019

Whether you have opened your own gym or you are just a private trainer, it can be a great feeling when you invest in some new equipment. Not only can you use them yourself but you can get the satisfaction in knowing that your customers are using the best equipment in order to enhance their own work out regimes. As your equipment is brand new, and most likely very expensive, you may be considering how you are going to get the most out of it. Whilst you will be considering how to keep your customers from breaking your equipment, you also may want to think about how purchasing insurance can actually help you sustain the functionality of your equipment.  

Helping Clients Help You

Now, when it comes to your equipment, although you may want your clients making the most out of it, you don’t want them to overwork your new gym items. If your clients end up using your gym equipment incorrectly, this may not only break the items themselves but it could also end up in a trip to the hospital for the client themselves. That is why it is essential for you to get insurance for your new equipment. Be sure to warn your clients about how you want to maintain the life of your new gym equipment, however, make sure that this does not come at the expense of your clients’ workouts. If you let them know that you do have gym insurance, just in case the machine does break, then this will put their mind at ease. However, it may also keep them aware of what sort of exercises they can do on a machine. From there they can remain alert as to how far they can push the equipment without breaking it. That means that they can continue utilising your gym items without them breaking. Whilst you should have a lot of faith in your clients, as you should be able to form a personal connection during the fitness sessions, having insurance for your new equipment can actually be a good way of keeping tabs on your clients and their work out habits. If you currently have a “bad client” who is potentially damaging your equipment, you can at least feel at ease knowing that your insurance will ultimately protect your finances if you need to replace it. However, before it reaches that point, it would be useful to guide your client through how to actually use the equipment without damaging it. This is because they may not be purposefully trying to destroy your equipment. Instead, they just may not know how to use it.  

Easily Replaced

One of the best things about insuring your latest gym equipment is knowing that, even if it breaks, you will be able to afford a replacement. Whilst your insurance may not cover you neglecting to look after your equipment, for example by failing to clean and take proper care of it, if you have invested in commercial insurance, then you may be able to get compensation if your equipment is damaged by unpredicted disasters. This could be in the form of flooding or fire, but it could also be due to a burglar who damaged your property during abreak in.  Either way, your gym property can be easily replaced. That means that you can ultimately get the most out of it without having to worry about being able to afford a replacement.  

Legal Implications

According to the Health and Safety Executive, when it comes to maintaining your equipment’s life span, you cannot let it fall into disrepair as this will put the customer at a risk. More specifically, it states that “all work equipment be maintained in an efficient state, in efficient order and in good repair.” Although this does refer more to the idea of work equipment, at the end of the day, your gym is your business. Therefore, your own equipment must be maintained to an impeccable standard. That way you can ensure your own safety as well as that of your clients. The last thing you want is for your client to start using your equipment during a training session, only to have it break down and potentially injure them. This can be financially catastrophic if you end up facing a lawsuit. That is why keeping insured can be a fantastic way to make sure that your equipment stays in top order. Not only can you avoid encountering any future financial difficulties, but it may also become a strong motivator for you to keep your new equipment working well. The better you treat your equipment, the more likely it will last for future clients.

Insurance Policies

Let’s say that you are interested in opening a gym. Whilst this can be a risky move, for the gym market is extremely competitive, it can be lucrative if your gym ends up attracting the right sort of customers. However, the only way you can do that is by purchasing the correct sort of equipment. You do not just want to cater a specific fitness trend or work out regime. You want as many customers as possible visiting your gym, therefore you are going to need equipment that suits as many people as possible. That is why if you decide to purchase more than one piece of equipment, you may end up saving money when it finally comes to insuring them all. Insurance policies allow you to insure more than one pieces of equipment, to the extent where the entirety of your gym can be covered. This is great if you are looking to find a good price for a full range of equipment, rather than just a few exercise bikes in a small studio. You can save money by insuring more than one piece of equipment. That way, you know will be getting a great insurance deal, whilst still being able to purchase the exercise equipment that will benefit your customers and their workouts.

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