Last Updated: May 31, 2024, 6:38 am by TRUiC Team

Rock Climbing Gym Business Insurance

Getting business insurance for your rock climbing gym is crucial.

This is because rock climbing gyms need to be protected against several foreseeable risks, such as those that relate to property damage, instructor negligence, and bodily injuries.  

You may also be legally required to purchase some forms of business insurance in order to protect yourself from employment law-related disputes. 

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 Rock Climbing Gym Business

General liability insurance is — generally speaking — one of the most important insurance policies for rock climbing gyms.

Some of the risks general liability insurance covers are:

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

Even so, your rock climbing gym business will likely benefit from purchasing additional coverage. This includes: 

  • Workers’ compensation insurance to protect your gym againsts employment law related claims, such as payment disputes and wrongful termination allegations. 
  • Errors and omissions insurance will protect your gym against negligent acts or omissions that are committed by you or an employed instructor. 
  • Commercial property insurance to cover the cost of repairing and/or replacing your gym’s equipment in the event of accidental damage or theft. 
  • Business income insurance to cover part of your lost income in the event of a fire or another risk that’s covered by your insurance provider. 

You will also need to decide what type of business insurer you will work with: 

  • Online insurers (recommended) — Popular choices include Tivly and Next Insurance.
  • Brick-and-mortar insurers — Popular choices include Nationwide and Hiscox. 

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Cost of General Liability Insurance

The average rock climbing gym 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 rock climbing gym 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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Common Situations That General Liability Insurance May Cover for a Rock Climbing Gym Business

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Example 1: A member of your rock climbing gym is using a climbing wall when he slips and falls. He hits the ground hard enough to get a concussion and break his arm. While your gym may eventually be exonerated since the member assumed certain risks by using the climbing wall, there is still the possibility that he could file a lawsuit against your business. Your general liability insurance policy would pay for your legal fees, including the cost of a settlement if necessary.

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Example 2: A visitor to the gym is taking a tour with one of your employees and accidentally slips and hits her elbow on the tile floor. She sustains a fracture and requires medical care. The general liability insurance policy you carry will likely cover her medical expenses.

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Example 3: The new marketing material you have been circulating upsets one of your competitors, who claims that you are damaging her business. She decides to file a lawsuit against your business. The general liability insurance policy you have will pay for your legal fees as well as any settlements should you wind up settling the case outside of court.

Other Types of Coverage Rock Climbing Gym 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

The equipment you have in your gym, including your climbing equipment, safety equipment, and climbing walls, took a considerable investment to acquire. Should a major disaster strike your business, like a big fire, you could lose all of this equipment, and replacing it would be costly. A commercial property insurance policy helps pay for the replacement of your commercial property as long as it was damaged by a covered event.

Workers’ Compensation Insurance

A workers’ compensation insurance policy pays for medical treatment for work-related injuries. It also helps to cover lost wages when injured employees are unable to work. Most states require employers to carry workers’ comp insurance.

Commercial Umbrella Insurance

There is always the possibility that you will run into a situation where your general liability insurance policy limits are exceeded—like if you were to lose a big lawsuit. If this happens, an umbrella policy would pick up when the general liability insurance leaves off, so you are much less likely to need to cover damages out of your own pocket.

Product Liability Insurance

If your climbing gym sells any products, like climbing equipment, it can be useful to have product liability insurance to protect your business. Should a customer decide that one of the products you sold caused him or her injury—like if a piece of equipment failed while being used—and that customer filed a lawsuit, your product liability insurance would cover your legal costs to defend your business. It would also cover a settlement payment if necessary.

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 rock climbing gym 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.

Rock Climbing 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. This will ensure that your business will be protected before you begin interacting with clients and/or hiring employees. 

It is also a good idea to purchase business insurance before you begin operating in order to ensure that your gym’s equipment is covered in the event of damage or theft.

Not necessarily. Certain exceptions may be written directly into your rock climbing gym 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.