Yoga Studio Liability Insurance
By: Daniel Rushmore
As a yoga teacher or studio owner, do you have the right kind of yoga insurance? Do you have any insurance at all? Whether you teach part time or run a full blown studio, it is imperative you have good insurance coverage specifically for your line of businss, being teaching yoga.
Fortunately there are several yoga insurance providers. It's also nice to know yoga insurance isn't terribly expensive. You can typically get decent coverage for about $200 per year unless you're running a pretty large studio.
This article is split into two sections. The first lists yoga insurance providers. The second section sets out questions and considerations you should take before buying insurance.
A. 6 yoga teacher and studio insurance providers you can look into are as follow:
- Idea Health and Fitness Association;
- Yoga Journal's Benefits Plus;
- Sport and Fitness Insurance Corporation;
- IMA Group Inc.;
- AYIO Insurance Center; and
- Is any membership in a particular association necessary? What other benefits does membership provide?
- Does the insurance policy require you be Yoga Alliance certified?·
- As a yoga instructor, does the insurance protect employees and independent contractors or just you as a yoga instructor?
- How much does the premium cost? Shop around. Get what suits your needs best.
- What is the aggregate annual coverage?
- What is the maximum dollar amount of coverage for a single claim?
- Are you insured outside of your country? Think about any retreats you instruct at each year.
- Does the insurance policy cover you away from your yoga studio?
- Think carefully about all the yoga styles taught at your studio and that you instruct. You want to make sure all styles are insured.
- Look into how many students attend your classes. If you teach large classes, tell the insurance provider to ensure everyone is covered. Some insurers only cover up to a certain number of students per class.
- Do you offer collateral services such as massage therapy and/or Pilates? If so, ensure these services are included in the policy.
- Set out all props you use - swings, blocks, bolsters, etc. and inquire whether they are all covered. Aerial props may not be insured.
- Is there a deductible? If so, how much?
- Are lawyer fees included in the event you're sued? Are there instances when attorney fees aren't included?
- Make sure you understand the procedure for making a claim. Specifically, when must you make a claim or notify your insurer. This is important because if you fail to notify when you should have, you could be breached which means you're on your own, including on your own for attorney fees.
- Injury liability
- Professional liability
- Advertising liability
- Product liability
- Premises liability
- Sexual Harassment
Read the coverage exclusions carefully to make certain no activity or aspect of your yoga teaching / yoga studio is not insured.
If you have the funds, hire an attorney and/or insurance broker to assess the yoga insurance policies you are thinking about purchasing. These professionals will be able to inform you specifically about the better policy for your needs and situation.
Don't put your business and students at risk for failing to spend a couple of hundred dollars a year for insurance. Remember, it's more for your student protection than your protection.