Most think that purchasing insurance is a “set it and forget it” type of thing.
Well, that couldn’t be further from the truth. Is insurance boring? It most definitely is boring. It’s extremely detail oriented, but it’s designed to protect you, the Gym Operator.
Sure, you CAN just sit back and relax after setting up your yearly policies. But do you know what happens each time you file a claim? Your yearly cost will increase. The more claims you file, the higher your cost will be.
There IS a better way, though. There are things you can do to reduce your yearly volume of claims? Which in turn will reduce your costs both short-and-long term? Those aren’t questions. Those are facts.
You MUST be proactive!
If you’re proactive in addressing your biggest areas of exposure, you’re likely to reduce your risk.
Some examples:
- Is there enough spacing between your machines so traffic can flow by without incident?
- Is your childcare facility located close to an exit?
- Are your machines fully functional and well-maintained?
- Are you training your staff on the most up-to-date workplace Sexual Harassment and Discrimination policies? Throw in Workers Comp, too.
- Are you factoring in unrealized increases in construction and labor costs for new construction projects when selecting a new policy?
We know that it’s hard to juggle so many priorities at once, especially when so many in our industry are owners and operators. Those are two full-time jobs.
There are resources out there that will help you be proactive in mitigating your risks and reducing your yearly costs. It will help you sleep better at night knowing that you’ve done as much as you can to protect yourself, your staff and your livelihood.
