Are you considering purchasing Yoga Teacher Insurance? Need to know more about yoga liability insurance: how it works and what is best for you? Let’s review why yoga teachers need insurance and go over options for you.
Any yoga teacher that is passing on their knowledge to a group of yoga students knows just how rewarding each and every class can be, both for yourself, as well as the students. But with students coming from all manner of different lifestyles, activity levels, and even ages, there surely are challenges for the yoga instructor to overcome in order to make their classes accessible and safe for everyone. Unfortunately, like with every psychical activity, there is a risk of injury or damages that can occur while students are under your direction. This is what makes having yoga teacher insurance so vital for any professional yoga instructor.
Let’s hone in on the important coverage provisions which make up a comprehensive yoga insurance program:
In legalese, liability is something that you have a financial obligation to pay. A student that is injured or has their property damaged during your class may decide to contact a lawyer and file suit to recover their losses. Even if lawyers aren’t involved, the injured party may still come to you with a demand for compensation. If the suit goes all the way to court and the court orders in favor of the plaintiff, you could be suddenly stuck with the costs of the claim pluslegal fees.
Another potential liability can come simply from renting space at a gym or studio for your classes. A simple mistake that causes property damage to your rental space can have a landlord or studio owner demanding you pay to cover the cost of repairs. With the costs associated with the liabilities facing professionals sometimes running into the hundreds of thousands of dollars, a legitimate risk management tool is needed to offset the burden of liability. This is where yoga liability insurance comes in.
In yoga instructor liability insurance, general and professional liability are the biggest areas of risk that yoga instructors face. Because more of these types of claims are filed than any other form, these two coverage types are by far the most common. Coverage limits for these two provisions runs $2 million for each occurrence and then $3 million in total per individual in a given policy year.
Another important coverage area for yoga instructors comes in the form of the products used during class that a student comes in contact with. For example, while you’re busy trying to keep your mats and equipment clean in between sessions, the cleaning product you’re using may include ingredient that induces a bad allergic reaction for a student attending a later class. If the allergic reaction is severe, it can result in anaphylaxis, which can be life threatening. Doctors bills, hospital bills, ambulance fees, and other necessary treatments can really add up in cost which is why product liability coverage through beYogi yoga insurance provides up to $2 million for claims related to a product liability loss event.
You may be renting a small space in a studio or using a space for a one time demonstration, which can be a great strategy for scaling up your space when you want to host a large class. Renting space presents its own set of issues, should an unfortunate event result in damage at some point during your occupation. Like any situation involving a rented asset, the owner of that asset may hold you liable when you return an asset that’s damaged. When signing your rental agreement, most landlords or studio owners or even community centers will spell out your specific responsibilities when it comes to repairs but even if they do not, they can still hold you responsible and try to seek restitution.
Moving some furniture to accommodate a class might cause a corner of a bench to hit the wall. This would be an example of a claim event that could fall under what yoga teacher insurance covers. With the drywall, the paint, and the time, your handymen’s bill could easily be a couple thousand dollars even for a simple repair like this. With beYogi yoga insurance, you’ll have coverage all the way up to $100,000 towards the costs of repairs to a rented space.
Most yoga teachers own mats, blocks, apparel, and other gear and accessories. Losing all of it in case of robbery can be both emotionally traumatizing and leave you hurting financially. With yoga teacher insurance coverage, you get up to $1,000 with a $250 deductible to help cover the cost of replacing your yoga equipment after it has been stolen. You have enough on your plate after a robbery. Rather than worrying over having to replace your gear solo, you have the assurance of a stout yoga insurance program at your back.
Having your identity stolen isn’t merely inconvenient, it can present a severe financial hardship to you and your business. An identity theft could cause your credit to be frozen, causing a chain of events such as limiting your ability to make purchases, rent a new space, or secure financing. In a digital age where identity theft happens every day, insurance coverage should include provisions for identity protection. beYogi yoga insurance includes up to $25,000 to help cover the costs of restoring your identity if it is ever compromised by an identity theft event.
Another really important aspect to look at when you are considering the yoga teacher insurance coverage that’s right for you is what kinds of services are covered under the provisions of the policy. A yoga insurance policy that has the best of everything but then only covers a couple of different yoga modalities is pretty useless. Worse, some yoga liability insurance programs will make you stick with a set of core modalities and then charge you a premium if you ever wanted to branch outside of those few. We know most yoga teachers offer variety of yoga styles, evolve with time or might simply consider changing up their offer to students. That’s why rather than making professionals consult their yoga insurance policy every time they want to use a different style, our policy simply covers hundreds of different yoga modalities and other wellness services all under one comprehensive program.
There are many reasons why yoga insurance isn’t just a good idea, it’s one of the smartest business decisions you can make in your yoga career. Compared to the costs of a claim, yoga insurance’s low annual rates are a far better investment. In addition to stout insurance coverage that walks with you every step of your yoga journey, you also get a host of additional benefits with beYogi Yoga Teacher Insurance: A free website, exclusive access to a full-on yoga pose library, and tons of discounts and deals from the leading names in yoga gear are all included! With coverage and benefits like these, the investment in yoga insurance is one that keeps paying you back the longer you have the protection in place.
Signing up is simple and only takes a few minutes. Fill out a quick online application, choose a payment plan, check out, and you’re covered. Welcome to yoga teacher insurance made easy. Get covered now.
“As a full-time yoga teacher, I have loved working with beYogi for my yoga insurance. They make it easy to sign up, offer great benefits, and are always there to answer my phone calls”- Amy Dannheim