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We have a number of quick and easy ways to remit payment for your policy:
1. Credit Card
We accept Visa, MasterCard, and Visa Debit. Just give our accounting department a call at 1-888-346-6602 to provide payment details.
2. eTransfer
You can send etransfers to accounting@sportsfitnesscanada.com. Please make sure to include your policy number or customer code so we can apply your payment to the proper account.
3. Cheque
You can send payment by cheque to our office at:
Sports & Fitness Insurance Canada
1054 Adelaide Street N.
London, Ontario
N5Y 2N1
Please note your policy number or customer code on the cheque so we can apply your payment to the proper account.
4. Monthly Financing
Our in-house financing splits your payment into 12 and automatically withdraws from your chosen bank account. Talk to your underwriter or give our accounting department a call to see if you are eligible (most are!) and discover how easy it is to set up our no-hassle financing.
A change to a policy is called an Endorsement, and we pride ourselves on our quick turnaround time for these mid-term changes. Give us a call or send us an email with the needed changes – either to your underwriter or to our info line at info@sportsfitnesscanada.com. We will ask you some questions, then once we have everything we need we will make the necessary changes and send you updated policy documents.
We are available Monday – Friday from 9:00am – 5:00pm EST.
We are supported by over 800 broker offices across the country who see the benefit of selling a Sports & Fitness customized insurance policy. The great part about having a broker is that they take care of all the nitty-gritty parts of insurance for you, and they have the ability to view your space and operations firsthand to ensure you have all the necessary coverages and limits needed. But sometimes brokers don’t fully understand your operations, especially in the spa and beauty classes. You have the option to deal directly with Sports & Fitness Insurance by calling us at 1-888-346-6602 and speaking with an expert who understands your type of business.
We offer the most comprehensive coverage at competitive premiums so you can protect your E&O.
You can make a complaint by visiting our Contact Us page. In our Contact Form Dropdown Menu, choose "Complaint" and enter your message.
Alternatively, you can call us at 519-672-3224 or 1-888-346-6602 or email us at complaints@sportsfitnesscanada.com.
We have a number of quick and easy ways to remit payment for your policy:
1. Credit Card
We accept Visa, MasterCard, and Visa Debit. Just give our accounting department a call at 1-888-346-6602 to provide payment details.
2. eTransfer
You can send etransfers to accounting@sportsfitnesscanada.com. Please make sure to include your policy number or customer code so we can apply your payment to the proper account.
3. Cheque
You can send payment by cheque to our office at:
Sports & Fitness Insurance Canada
1054 Adelaide Street N.
London, Ontario
N5Y 2N1
Please note your policy number or customer code on the cheque so we can apply your payment to the proper account.
4. Monthly Financing
Our in-house financing splits your payment into 12 and automatically withdraws from your chosen bank account. Talk to your underwriter or give our accounting department a call to see if you are eligible (most are!) and discover how easy it is to set up our no-hassle financing.
If you need to change your bank account information, please send your new void cheque or direct deposit form to accounting@sportsfitnesscanada.com. Remember to include your policy number or customer code so we can update the correct account. We will make the necessary changes and send you confirmation once it’s been completed.
If you have a broker then you will want to contact them for anything involving your insurance, including payment.
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Contact our accounting department right away at accounting@sportsfitnesscanada.com and advise of the situation. Remember to include your policy number or customer code so we can easily access your file. Alternatively, you can call 1- 888-346-6602 and speak to our accounting department. Either of these methods are acceptable, and we will work with you to make payment arrangements.
Subrogation is something that happens in a claim where the fault lies with a third party. To keep the process quick and as smooth as possible for the insured, insurance companies will often payout the claim once the adjuster has done their part, and will then seek reimbursement from the third party who was at fault. This not only helps you to get back to business as usual, but it also helps to keep your premiums down.
An adjuster is the person who investigates a claim on behalf of the insurance company. They are your point person once a claim is underway and will be the one you communicate with during the process. We work with two different adjusting companies, depending on your policy carrier.
Deductibles are the amount that each client has deducted from the total claim. Each client when
submitting a claim has to consider how much the claim is worth, less the deductible. Deductibles are
found on all property coverages and most liability coverages such as property damage or bodily injury.
A defendant is the person allegedly responsible for a property loss or personal injury in a lawsuit.
Indemnity is when the insurance company compensates/repays the insured in the event of a loss. This is
usually the amount of the loss itself, as the Insured neither gains nor loses.
A notice of loss is a report made to the insurance company detailing the losses and the circumstances
surrounding how they occurred to an insured asset. It is required by insurance companies for the
insured to send a notice of loss immediately after an accident or other loss. This is generally the first
step in a claims process.
A retroactive date endorsement provides liability coverage for previously unreported claims when the
prior insurance coverage of the Named Insured was written on a claims-made policy wording, and will
generally have specific conditions required to be met. This is only applicable when converting from a
Claims-Made policy wording to an Occurrence wording.
An accident is when an unintentional event occurs that results in injury or harm to an individual or
property damage. When an accident occurs, this turns into a claim that is reported to your insurance
company to start the claims process.
An incident is when an unintentional event occurs that may not turn into an injury or harm to an
individual or property damage. Not all incidents will become an accident, and therefore don’t
necessarily require to be reported to the insurance company. However, it is still important to document
and keep records of all incidents, including the date/time of the incident, what and how the incident
occurred, a statement from the injured party if applicable, any witness statements/information, any
action taken (i.e. first aid administered, called ambulance etc.).
A higher deductible may reduce your premiums slightly, but may also eliminate some smaller types of claims like theft of a laptop. Typical starting deductibles are $1,000 and can be increased depending on the size of the account and the financial strength of the company such as $2,500, $5,000, or $10,000. However, certain types of losses such as water, flood and earthquake have higher standard deductibles.
Co-insurance applies to property insurance and is typically 90% on most property policies. The insurance company requires that you insure your property for a minimum of 90% of the actual replacement cost of your property. With building inflation having gone a bit crazy, many properties and contents amounts are underinsured (i.e. less than 90% of the replacement cost).
If you experience a fire or flood, you will quickly see how much it costs to repair or replace things. If you are underinsured, the insurance company may reduce the amount of any payment to you in proportion to the amount that you are underinsured.
This coverage is based on your profit resulting from your sales. The Sports & Fitness policy will pay you for your lost income for a period of up to two years after a claim. This protects you from going out of business, as a large claim such as a fire or sewer back-up will stop your income until repairs can be made. This will also provide compensation for lost customers as a result of your closure due to a covered loss.
Some of the benefits that are found in the SPORTS & FITNESS wording differ from many other insurance policies by including Earthquake, Flood, Transit and many other extensions in addition to the insured limit of Contents. However, certain types of losses such as water, flood and earthquake have higher standard deductibles.
A sewer backup or sump pump malfunction is water that comes into your basement from the sewer system. This is called grey water and needs to be removed quickly as prolonged exposure can lead to mould issues. Water damage caused by a sewer backup is one of the most common claims and this coverage has a higher deductible. As a hint, keep any valuable stored items in your basement 18 inches above the floor on shelving!
Floods may cause sewer back-ups by overwhelming the municipal drainage system. Generally, a flood is the escape of water from a natural object such as a lake, river, or pond. This increase of water may come right up to your entranceways or windows and break into your premises causing huge damage. As this type of coverage is considered catastrophic, a higher deductible applies.
With the change in our climate, floods are becoming more common. Flood insurance is hard to buy in low-lying regions – but the Sports & Fitness policy covers this exposure as part of our custom insurance policy.
This is the most common property coverage that people need. CONTENTS is defined as the sum of Tenants Improvements, Equipment, and Stock. This figure needs to be calculated using the replacement cost of each of the three sections above. Make sure that you have a high enough contents limit of coverage to ensure that you are fully compensated in the event of a major loss.
Most policies insure Contents for full replacement cost (R/C). In some cases where certain types of equipment can depreciate quickly as new technologies are developed, the basis of settlement is changed to Actual Cash Value (ACV). Would you expect an insurance company to buy you a brand new car if your car was over 5 years old and destroyed in a fire? Of course not! The insurance company would pay the depreciated value of the vehicle which is called the Actual Cash Value (ACV).
Some policies will change the basis of settlement from R/C to ACV if the piece of equipment is over 5 years old.
Tenant’s Improvements or Leaseholds are one component of CONTENTS. (The other two components are EQUIPMENT and STOCK.)
Tenant’s Improvements may consist of two aspects:
1) Tenant’s Improvements normally consist of renovations to the premises. This includes systems such as phones, alarms, HVAC, washrooms, showers, mirrors, sinks, lighting, ceiling tiles, flooring, custom entry systems, etc.
2) Pre-existing Tenant’s Improvements made by a previous tenant that have been transferred or sold to you under the lease agreement. Have you ever looked at a location to rent and thought - “This place is perfect. I can move right in with only minor changes.” Well, your lease may make you responsible for insuring the full replacement cost value of those pre-existing Tenant’s Improvements plus any new renovations that you may make.
Generally, Tenant’s Improvements are not removable when you vacate your premises and become the property of the Landlord once your lease terminates.
Big Companies normally have a long lease that is very comprehensive, and you are not able to negotiate the conditions of the lease other than the term and the price. The lease will normally require that you become responsible for all pre-existing Tenant’s Improvements and any features that relate to your premises such as glass, and everything inside the premises.
Often the lease will require a Waiver of Subrogation (removing the Landlord’s responsibility for any damages caused by them to your Contents – (an example may be a leaky roof).
Business Interruption - This coverage will also be required by your Landlord.
Liability Insurance – The Landlord may request $10,000,000 of liability coverage. You may be able to negotiate a lower limit of $5,000,000 instead. If not, we can provide a low cost liability umbrella policy to increase the underlying $5,000,000 of insurance up to $10,000,000.
Smaller Companies may not have a very sophisticated lease. Your lease may not require that you insure the pre-existing Tenant’s Improvements, as the Landlord owns them. In the event of a claim, the Landlord may be asked to pay for damage to the Landlord’s property that is on your premises. Your insurance policy provides protection for property that you are responsible for, not property that is the responsibility of the Landlord.
If you own your building, it can also be insured on the property policy. Some items that affect the rating of your policy are type of construction, fire service, type of business operated, deductible level and past claims.
Liability insurance protects you against lawsuits that people can start against you. It is an unfortunate reality in the world that anyone can sue you and claim that they have been injured as a result of your negligence. Liability protection pays the cost of adjusters to document and investigate the claim, as well as any legal costs to defend you, so you don’t have to worry and can get on with running your business. Only if you are found liable or negligent will your insurance company pay a settlement to the person who sued you. Defence costs are covered outside of your liability limit so that in case of a required settlement, you will have the full limit of your insurance to settle a claim.
All Landlords, banks, and financing companies will require that you carry liability insurance. The normal limit offered by Sports & Fitness is $2,000,000 with many customers opting for a $5,000,000 limit.
All Landlords, banks, and financing companies will require that you carry liability insurance. The normal limit offered by Sports & Fitness is $2,000,000 with many customers opting for a $5,000,000 limit. If $5 Million is not enough, we can offer higher limits through umbrella liability coverage.
Additional Insureds are normally companies that are involved with your business. They can include banks that provide financing, equipment leasing companies, landlords or franchisors.
orts & Fitness Insurance by calling us at 1-888-346-6602 and speaking with an expert who understands your type of business.
Normally, the answer is NO – you would need to purchase a different kind of insurance to cover injuries to yourself, which a broker will be able to help you find. However, our policy does provide some minor coverage for employees that are injured as a result of the employer being responsible for the injury. Examples could be a slip on an icy sidewalk or a slip and fall in the premises on a wet floor.
Most liability coverage is provided on an “occurrence” basis, which is the best type of protection. If a loss occurred during the policy period, your policy will respond even if you make the claim after the policy has expired.
Another type of coverage is “claims made”. This type of coverage requires that the claim be reported within the policy period of the insurance. In order to maintain coverage from accidents that happened in a prior insurance period, you must have had continuous coverage with no gap in order for your policy to respond.
Some of the features of our Sports and Fitness liability are as follows:
• Limits up to $5,000,000
• Professional coverage included
• Policy extends to cover related Independent Contractors
• Abuse coverage is provided on a Claims Made basis.
• Low Bodily Injury and Property damage deductibles.
Professional liability refers to any claim that occurs because of you or your employee’s work. Think of a client who gets injured because their personal trainer pushed them too hard or a burn that results from letting a client back into the tanning bed too soon after their last session.
Professional insurance is already included in the Sports & Fitness Policy wording for most classes of business that we insure.
An umbrella policy can be purchased which provides additional coverage over and above (hence the term umbrella) your existing policies. Umbrellas are normally for $5,000,000 and are generally above your general liability policy, auto liability and any other liability coverage in the same name as the insured. Sports & Fitness is able to offer a low cost solution when higher liability limits are required by our insureds.
