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View Full Version : 24-hour key club insurance



MarcusWild
06-12-2011, 12:36 PM
Who do people use for this? I currently am insured as an instructor led studio through K&K insurance. I'm moving to a bigger space and want 24-hour key club insurance. Thanks!

Travis Bell
06-12-2011, 01:40 PM
gym next to mine is a 24hr key club to get insurance, I believe they had to go through a 3rd party insurance setup?

Not sure.

Have you talked to your insurance broker?

MarcusWild
06-12-2011, 03:22 PM
I didn't use a broker to get my policy with K&K. I just contacted them directly.

There are definitely companies that offer it. It's just the sites I've found look a little too much like an infomercial. They don't offer a lot of info except a form to fill out, so they can contact you. I'm hoping to find a company that other people have worked with and is good.

ScottYard
06-12-2011, 06:59 PM
Gyms are what is called surplus lines and a broker is needed to acess most carriers. Dont go direct. Have a broker work for you that will help you in the event a claim occurs Its a specialty market with few writers. usli has descent rates. Libility policies are based on sales so remember that it will be audited at policy end. Dont buy anything with out a profession liability sub limit. Thats the big exposure.

MarcusWild
06-13-2011, 11:43 AM
Thanks Scott. That's good info, especially about professional liability sub limit. I called a few local brokers. I'm waiting to hear back.

ScottYard
06-13-2011, 02:55 PM
No problem. Good luck

Pete22
06-15-2011, 03:05 PM
Gyms are what is called surplus lines and a broker is needed to acess most carriers. Dont go direct. Have a broker work for you that will help you in the event a claim occurs Its a specialty market with few writers. usli has descent rates. Libility policies are based on sales so remember that it will be audited at policy end. Dont buy anything with out a profession liability sub limit. Thats the big exposure.

There are a few carriers, such as Philadelphia and Great American (off the top of my head) that write gyms on the admitted side, meaning they are not surplus lines, which means substantially lower premiums. Definitely go through an independent agent though.

MarcusWild
06-15-2011, 08:56 PM
I did use a broker. I got the professional liability and the landlord as additional insured for a reasonable rate. I signed the lease today and got the key. The real fun is moving on Sunday.

Thanks again for the advice.

vdizenzo
06-16-2011, 05:43 AM
Congrats and good luck.

ScottYard
06-16-2011, 07:00 AM
Awesome. Go get some memberships now.