Business Income/Interruption Insurance: Clubs & Fitness Centers

Available from Club Insurance - A Markel Company

It’s probably the kind of event that keeps you up at night. A totally unexpected disaster or accident occurs, and suddenly your entire club facility is shut down. Your employees are on the street. Members are turned away. And your losses mount up day by day with no relief in sight.

That’s the scenario you face without a strong business interruption insurance policy in place. The disaster may still happen, but the consequences are fully covered and your damage is a fraction of what your club would have suffered otherwise.

Business interruption (or business income) insurance compensates the insured for income lost during the “period of restoration,” a defined term during which the coverage applies. It begins when the direct physical damage occurs and ends on the earlier of the date that the damaged property should be repaired, rebuilt, or replaced, or at such time as stipulated in the policy declarations.

With this important coverage, your health club or day spa can receive the revenues it would have earned had there been no loss. Your employees can be paid, your rent or mortgage payments can be made. Even the net profit you would have earned is covered and reimbursed to you.

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