When you own a climbing wall gym, no two days are ever exactly the same.
As a business owner, you have all the usual concerns with bookkeeping and managing staff. But at the same time, you also have to handle the logistics of operating a climbing wall.
With so many people to manage and higher standards of safety to enforce, you could be exposed to liability without knowing it.
Climbing wall gym insurance can help you protect your company in the event that the unexpected occurs.
3 Types of Climbing Wall Gym Insurance That You May Want to Consider
1. Commercial General Liability (CGL)
Generally known for offering coverage when someone suffers bodily harm or property damage in your building. However, CGL insurance can also cover false advertising, libel and/or slander claims as well.
At a climbing wall gym, you have multiple climbers who are using harnesses and climbing to great heights. Even with training, mistakes can happen. And that’s before you start to think about how easily classic “slip and fall” accidents can happen.
Even if it turns out that you’re not liable, the legal expenses involved with defending yourself in court can be very disruptive to your company’s cash flow.
CGL insurance is designed to cover those litigation-related costs, settlements and/or any judgments against you and your business.
2. Commercial Property
Simply because you’re operating a climbing gym, you’re going to have a lot of specialty equipment on top of your standard business-related equipment.
Even so, however, you can’t always predict when a disaster would occur.
Your building could be struck by lightning or a fire could break out. In circumstances like that, if your debit machine, your computers, or even your climbing walls were to be damaged, replacing that sort of essential equipment on short notice would be quite expensive.
Commercial property can give you the coverage you need against natural disasters and other insured perils.
3. Umbrella Liability
When you have people climbing and dangling from incredible heights in your facility, a very serious accident isn’t totally out of the question.
If damages reach a level that goes beyond what your CGL insurance can cover, is that the end?
Umbrella liability coverage can act as an additional layer of financial protection for small businesses. It can also kick in when other insurance options aren’t able to cover the gap.
Since personal injury lawsuits can sometimes have very high judgments, this is a coverage option that may be worth your time to explore.
Why You Should Work With a Professional Broker
You’re a business owner and you operate a climbing gym.
That’s two priorities right there that require your undivided attention.
At the end of the day, taking out wall climbing gym insurance has incredibly high risk. If you make the wrong decision, it could leave your gym operating underinsured and totally exposed to risk.
Working with a licensed and experienced insurance company gives you all the advantages of having someone with professional expertise and industry knowledge on your side while you look for insurance.
Are you ready to explore climbing wall gym insurance? Contact an ALIGNED insurance broker today!
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