British Gymnastics Member Clubs
If your Club is a member of British Gymnastics you will be covered for certain insurances, but at Hexagon Broking we can help you with the additional insurance you may need and that is not provided as part of the British Gymnastics scheme. Examples of other types of cover you may need are:-
- Buildings Insurance (either if you own the premises or if you are required to cover the property as part of your lease agreement)
- Contents Insurance (equipment, stock, computers, sound system, etc)
- Money (protection against a range of events for cash and cheques etc)
- Business Interruption and Extra Expenses (comfort in the knowledge that your revenue stream is protected against specified events)
- Terrorism cover
- Personal Accident
Flood, storm or fire can have devastating consequences so it is important to ensure your Club can continue to operate should any one of these terrible incidences happen. Cover also extends to Accidental Damage and/or Malicious Damage to your property or equipment.
Buildings and Contents Insurance
- Covered under the “Property Damage” section of the policy
We understand how expensive some gymnastics equipment can be; sprung flooring and tumble tracks, vaults, bars and beams for example, even the foam in a pit, so it is important that you adequately insure all the contents in your gymnastics facility. It’s a good idea to keep an up-to-date inventory of all your items of equipment.
Equipment Breakdown
- Cover is automatically included if “Property Damage” is selected
This section pays to repair electrical or mechanical equipment that breaks down, for example: central heating and air conditioning systems, lifts and office equipment. Computer breakdown is also included if the cost is not recoverable under a maintenance agreement. And business interruption cover is provided for the equipment, if you have opted for the Business Interruption section of the policy.
Money Cover
- Cover for cash and cheques and other types of money
Includes crossed cheques, money orders, cash in transit, on site or in a bank night safe. Loss due to dishonesty of employees, fraud and identity theft.
Business Interruption and Extra Expenses
- Covers loss of revenue and the increased running costs of your Club following an event insured under the “Property Damage” section.
If your venue is severely damaged or completely destroyed you will probably need to relocate as well as begin the process of rebuilding the damaged facility; this process may take a long time. Cover is usually for set periods between 12 and 36 months and is designed to minimise your loss of revenue (income) for the period you choose.
Terrorism
- Covers damage or destruction of the property insured (buildings and contents etc.), and Business Interruption if selected.
Insurance for acts of terrorism are backed by the UK Government, therefore any claim under this section has to be a certified Act of Terrorism to qualify
Personal Accident
- Covers death and permanent, partial or total disablement.
Cover is provided on a “block basis” individual member details are not required and will reduce the time spent on administration.
Social Media: Facebook Group – Gymnastics Club Managers and Owners UK