As a yoga teacher or studio owner, do you have the right type of yoga insurance? Do you have any insurance? Whether you teach part-time or run an entire studio, it’s imperative that you have good insurance coverage specifically for your line of business, yoga teaching.
Fortunately, there are several yoga insurance providers. It’s also nice to know that yoga insurance isn’t terribly expensive. You can usually get decent coverage for around $200 per year, unless you have a fairly large studio.
This article is divided into two sections. The first lists yoga insurance providers. The second section sets out questions and considerations you should take before purchasing insurance.
A. 6 yoga studio and teacher insurance providers you can check out are:
- Idea Health and Wellness Association;
- Yoga Journal Plus Benefits;
- Sports and Fitness Insurance Corporation;
- IMA Group Inc.;
- AYIO Insurance Center; Y
- Internal idea.
B. Considerations before taking out yoga insurance:
- Is affiliation to any particular association necessary? What other benefits does membership offer?
- Does the insurance policy require you to be certified by Yoga Alliance?
- As a yoga instructor, does insurance protect employees and independent contractors or just you as a yoga instructor?
- How much is the premium? Shopping around. Get what best suits your needs.
- What is the aggregate annual coverage?
- What is the maximum dollar amount of coverage for a single claim?
- Are you insured outside your country? Think about the retreats you teach each year.
- Does the insurance policy cover you outside of your yoga studio?
- Think carefully about all the styles of yoga that are taught in your studio and that you instruct. You want to make sure that all styles are secured.
- See how many students attend your classes. If you run large classes, let the insurance provider know to make sure everyone is covered. Some insurers only cover up to a certain number of students per class.
- Do you offer side services such as massage therapy and/or Pilates? If so, make sure these services are included in the policy.
- Place all the accessories you use: swings, blocks, reinforcements, etc. and ask if they are all covered. Aerial accessories may not be insured.
- Is there a deductible? If so, how much?
- Are attorney’s fees included in the event you are sued? Are there cases where attorneys’ fees are not included?
- Make sure you understand the procedure for making a claim. Specifically, when you should claim or notify your insurer. This is important because if you don’t give notice when you should have, you could be breached, which means you’re on your own, including attorneys’ fees.
What kind of policy do you need?
- Injury Liability
- Property
- professional responsibility
- advertising responsibility
- product liability
- premises liability
- sexual harassment
Due diligence
Please read the coverage exclusions carefully to ensure that no activity or aspect of your yoga teaching/yoga studio is not insured.
If you have the funds, hire a lawyer and/or insurance broker to evaluate the yoga insurance policies you are considering purchasing. These professionals will be able to tell you specifically about the best policy for your needs and situation.
Don’t put your business and students at risk by not spending a couple hundred dollars a year on insurance. Remember, it is more for the protection of your student than for your protection.