Ninja Warrior Gym Business Insurance
Getting business insurance for your Ninja Warrior gym is essential.
This is because Ninja Warrior gyms need to be protected against claims involving things that could foreseeably occur and cause them financial damage, such as instructor negligence, customer injuries, and property damage.
For example, a customer could get injured while attempting to use one of your gym’s obstacle courses, or they could end up damaging the course altogether while using it.
We’ll help you find the most personalized and affordable coverage for your unique business.
Recommended: Next Insurance is dedicated to matching small businesses with the right policy at the best price.
Best Insurance for a Ninja Warrior Gym
General liability insurance is — generally speaking — one of the most important insurance policies for Ninja Warrior gyms.
Some of the risks general liability insurance covers are:
- Bodily injury
- Property damage
- Medical payments
- Legal defense and judgment
- Personal and advertising injury
Having said that, it is important to note that a simple general liability policy may not be enough to “fully” protect your gym’s assets.
Because of your business’s unique risks, it may be a good idea to consider purchasing the following coverage options as well:
You will also need to decide how you will go about acquiring your coverage. There are (generally speaking) two options to choose from:
- Traditional brick-and-mortar insurers: This includes some of the largest insurer providers in the US, like The Hartford and Hiscox.
- Online insurers: These are generally AI-based and provide online quotes without the use of an insurance agent. Examples of prominent online insurers include Next Insurance and Tivly.
We recommend going for an online insurer as a small business due to the fact that they are significantly more affordable due to experiencing lower costs (e.g., no insurance agents, etc.).
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Cost of General Liability Insurance
The average Ninja Warrior gym in America spends between $500-$1,100 per year for $1 million in general liability coverage.
Compare the average cost of general liability insurance for a Ninja Warrior gym 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.
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Common Situations That General Liability Insurance May Cover for a Ninja Warrior Gym
Example 1: If a member of your Ninja Warrior gym gets injured from falling from a piece of equipment while practicing the course, your general liability insurance policy may help cover the accident-related expenses as well as any court costs or legal fees if your gym is sued.
Example 2: Ninja Warrior obstacle courses are often built by hand from schematics and plans obtained from Ninja Warrior. If some pieces of your obstacle course fail or malfunction and a patron gets hurt, your policy may cover their accident-related expenses, and it may help pay certain legal expenses if you are sued for having a faulty piece of equipment.
Example 3: Some Ninja Warrior obstacles contain water instead of foam pads in order to limit injuries suffered by participants that fall. If your water barrier isn’t deep enough and someone falls and gets injured, your general liability insurance may pay the costs to treat the individual’s injuries. If that same individual decides to sue you, your policy may cover settlement amounts, judgments, and lawyer fees.
Other Types of Coverage Ninja Warrior Gyms 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
If you own the building and property where your Ninja Warrior gym is located, you’ll want to have commercial property insurance in order to protect against covered losses, like fire, vandalism, and certain types of severe weather. This insurance policy may help replace equipment that was damaged and fund repairs to your building.
Commercial Umbrella Insurance
When an accident or covered event surpasses the limits of your general business liability policy, a commercial umbrella policy can be used to cover the remainder of the amount of the claim.
Workers' Compensation Insurance
If you employ personal trainers, fitness experts, and other employees at your Ninja Warrior gym, you will need workers’ compensation insurance, which helps pay the medical expenses of an employee that is injured while on the job.
Cyber Liability Insurance
If you are like most gyms, you accept membership payments online and via a payment terminal. Cyber liability insurance helps protect you financially if your customers’ data is hacked.
Excess Liability Insurance
This type of insurance often has extremely high limits, usually in the millions of dollars. This type of policy covers claims amounts that surpass the limits of your regular liability policy and your commercial umbrella policy.
Obstacle Course Insurance
Obstacle course insurance is a specific type of insurance policy that covers injuries and damage to the obstacle course during events. This means that if you plan to host obstacle course events at your Ninja Warrior gym, you will need obstacle course insurance in addition to your other insurance policies.
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 Ninja Warrior gym:
- 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.
Ninja Warrior Gym 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, you should obtain coverage as soon as possible.
This is because you will not be able to accurately predict when your gym will actually need business insurance, and so we generally recommend acquiring it before you begin interacting with clients.
All in all, this can end up saving you thousands of dollars in the long term.
Not necessarily. Certain exceptions may be written directly into your Ninja Warrior gym 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.