Last Updated: May 23, 2024, 12:58 pm by TRUiC Team

Boxing Club Business Insurance

Getting insurance for your boxing club is essential.

Boxing clubs need to be protected against things like claims of negligence, breach of contract, and personal injury.

For example, a member suffers a serious head injury from using a defective club helmet, or a member claims that an instructor is teaching dangerous techniques.

We’ll help you find the most personalized and affordable coverage for your unique business. 

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Recommended: Next Insurance is dedicated to matching small businesses with the right policy at the best price.

Best Insurance for a Boxing Club Business

General liability insurance is — generally speaking — one of the most important insurance policies for boxing clubs. 

Some of the risks general liability insurance covers are:

  • Bodily injury
  • Property damage
  • Medical payments
  • Legal defense and judgment
  • Personal and advertising injury

Despite providing a solid basis for your boxing club’s business coverage, many alleys opt to consolidate their protection with supplementary policies, such as:

  • Commercial property insurance
  • Professional liability insurance
  • Commercial umbrella insurance
  • Workers’ compensation insurance

Broadly speaking, there are two options available to you when it comes to the type of insurer you can obtain your business coverage from:

  • Traditional brick-and-mortar insurers: Conventional providers, such as CNA and The Hartford, which typically possess an in-person office for customers to engage with their insurance agents and receive personalized quotes or guidance. 
  • Online insurers: Our recommended option, these more modern providers solely conduct their business online and use powerful AI technology to swiftly offer clients precise coverage. Additionally, due to the lower operational costs of these businesses, they are able to do so far more affordably than conventional providers.

Let's Find the Coverage You Need

The best insurers design exactly the coverage you need at the most affordable price.

Cost of General Liability Insurance

The average boxing clubs in America spends between $400-$1,100 per year for $1 million in general liability coverage.

Compare the average cost of general liability insurance for a boxing club business to other professional industries using the graph below.

Several factors will determine the price of your policy. These include your:

  • Location
  • Deductible
  • Number of employees
  • Per-occurrence limit
  • General aggregate limit

You may be able to acquire general liability insurance at a discounted rate by purchasing it as part of a business owner’s policy (BOP) rather than as a standalone policy.

A BOP is a more comprehensive solution that includes multiple forms of coverage, such as business interruption and property insurance.

Graph showing average price of general liability insurance prices per industry

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Find the Best Rate

Discover the best coverage at the lowest rate in our cheapest business insurance review.

Common Situations That General Liability Insurance May Cover for a Boxing Club Business

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Example 1: A friend of one of your students is visiting your boxing club and starts climbing into the ring. He gets entangled while trying to slide through the ropes and falls to the ground and breaks some ribs. Your general liability insurance policy will likely cover the cost of treating his injuries.

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Example 2: You are putting on a small boxing demonstration to attract attention to your club. One of the audience members slips and falls in the bathroom and decides to file a lawsuit against your business. Your general liability insurance policy would pay for your legal costs, including the cost of a settlement if you settle out of court.

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Example 3: You are proud of your new boxing logo and have been using it in all your new marketing material. However, one of your competitors claims that your logo is too similar to his and sues you. The general liability insurance policy you carry will pay for your legal fees, including any payouts or settlements that are required.

Other Types of Coverage Boxing Club Businesses Need

While general liability is the most important type of insurance to have, there are several other forms of coverage you should be aware of. Below are some of the most common types of coverage:

 Commercial Property Insurance

All of the boxing equipment you have in your club, including bags, gloves, training materials, rings, ropes, etc., would be expensive to replace. A commercial property insurance policy would help to cover the costs of replacement were you to lose your commercial property in a covered event like a fire.

 Professional Liability Insurance

If one of your customers were to sue you based on the training and advice you gave, it could put your business in a precarious financial position. Professional liability insurance is designed to protect you from such risks. As long as your policy is designed specifically for you as a boxing instructor, it will pay for your legal fees if you are sued in relation to the training you provide.

 Commercial Umbrella Insurance

Your general liability policy is good coverage for most situations, but its policy limits can be exceeded in certain situations—like if you lose a big lawsuit. With commercial umbrella insurance, your umbrella policy will kick in when your general liability limits are reached.

 Workers’ Compensation Insurance

If you have employees, your state most likely requires you to carry workers’ comp insurance. This insurance will pay for treating work-related injuries for your employees. It will also help to cover lost wages while they are out of work.

Additional Steps To Protect Your Business

Although it’s easy (and essential) to invest in business insurance, it shouldn’t be your only defense.

Here are several things you can do to better protect your boxing club business:

  • Use legally robust contracts and other business documents. (We offer free templates for some of the most common legal forms.)
  • Set up an LLC or corporation to protect your personal assets. (Visit our step-by-step guides to learn how to form an LLC or corporation in your state.)
  • Stay up to date with business licensing.
  • Maintain your corporate veil.

Boxing Club Business Insurance FAQ

Yes, absolutely. You will need to first get a quote from an online business insurance provider like Next Insurance. Next allows you to then purchase a policy immediately and your coverage will be active within 48 hours.

A typical business owner’s policy includes general liability, business interruption, and commercial property insurance. However, BOPs are often customizable, so your agent may recommend adding professional liability, commercial auto, or other types of coverage to your package depending on your company’s needs.

"Business insurance" is a generic term used to describe many different types of coverage a business may need. General liability insurance, on the other hand, is a specific type of coverage that business owners need to protect their assets.

Yes, especially as a boxing club. You should obtain the right business insurance before it begins operations to mitigate the financial effects of common potential risks (such as members suffering an injury or employee negligence).

Additionally, your boxing club may have legal responsibilities to obtain some forms of business insurance if you choose to bring on additional staff other than yourself.

Not necessarily. Certain exceptions may be written directly into your boxing club business insurance policy, and some perils may be entirely uninsurable.

Yes, an LLC is meant to create a legal barrier between your business and your personal assets and credit. If you haven’t formed an LLC yet, use our Form an LLC guide to get started.

An LLC doesn’t protect your business assets from lawsuits and liability– that’s where business insurance comes in. Business insurance helps protect your business from liability and risk.