Certificate of Insurance (COI)

What It Is and Why You Need It


Your certificate of insurance is a necessary proof of coverage that is vital in many different business situations as a yoga instructor. beYogi provides instant access to this important plan document from the moment you purchase your policy through us. We’ll look at why COI’s are so important for yogis today and how you can get your own in a matter of minutes with our streamlined online application.

What is a Certificate of Insurance?

First off, what is a COI? A certificate of liability insurance is almost like the deed to your house. A deed describes the ownership you have in a piece of property but is only a piece of paper or in electronic form. A COI is similar. It describes the insurance policy that the policyholder has in a quick format to be used in a variety of circumstances. Basically, a certificate of insurance is proof that you do, in fact, have coverage. For potential landlords, teaching at yoga workshops, or even just your own peace of mind, a COI is a useful tool in describing the coverage you have.

Whether you have your COI in physical format, like a piece of paper, or electronic, like a PDF downloaded on your phone, this document shows anyone who needs to know that you do have insurance. You can often see at the bottom of a certificate of insurance for yoga teachers the word “Acord” as this form is one of the most commonly used for COIs across many different industries. You may even have someone ask to see your Acord certificate, which is the same thing as your COI. 


certificate of insurance

How to Get a Certificate of Insurance for Business Purposes

Getting a COI is proof that you have an underlying insurance policy. So the obvious path to getting a certificate is to first have an insurance policy in effect. The beauty of beYogi yoga teacher insurance is that our streamlined online membership portal affords you instant access to your COI. So, after you spend just a few minutes on a quick online application and check out, that’s all you’ll need to have your COI ready to be downloaded or printed.

There are many different situations that can require you to produce a COI. In many cases, the other party is trying to protect themselves by making sure you have insurance in case an unforeseen event pops up.

A few of these situations where a COI is requested from an insured yoga teacher can include:

  • Renting space for yoga classes: whether you are renting an entire commercial space or just a multi-purpose room at your local community center, chances are the person you are renting from is going to request a COI from you. The COI states what coverage you have and other important information so the landlord can make sure they don’t carry a big risk by letting you rent the space. If a renter doesn’t have insurance and a mishap occurs, they may not be able to pay for repairs which could leave the landlord out of luck.
  • *Be careful though, many yoga insurance policies out there skimp on what’s called rental damages coverage. With beYogi, our members enjoy up to $100,000 in coverage and this applies to the widest range of accidents out there.
  • Teaching at a yoga workshop: another really common scenario where a COI is requested from yoga instructors is when they are teaching at an offsite yoga workshop or retreat. The event organizers will often require you to show proof of insurance which is where you would provide your yoga insurance COI. Again, a really convenient aspect of beYogi’s yoga insurance is the near-instantaneous ability to obtain a COI. So if you’re on your way to your next workshop and totally forgot to renew your yoga insurance, you can absolutely secure complete coverage and produce a COI in just a few minutes' time.
  • For a wide variety of situations in the business of yoga, you will find a COI to be both a necessity and a useful tool in getting things done. The COI can act like a key to open the door to many new opportunities which is where $179 for an entire year of coverage can be an incredible investment based on the potential value of what you can do as an insured and empowered yoga teacher. 


Is Proof of COI Necessary in Yoga?

If you are working as a 1099 contractor, a COI is basically going to be a necessity with any working relationship you may establish. We’ve already seen where there are a variety of other situations where COI insurance really is necessary for yoga teachers but as a 1099, you are operating your own business. When you go to teach at a yoga studio as a 1099 one of the first requests they will likely have is to see a copy of your COI. Ah! Don’t have one?? Well, as we’ve mentioned you are definitely in luck because with beYogi you could produce that COI in a few minutes’ time and show the new yoga studio proof of complete coverage.

The yoga studio isn’t doing this to punish new yoga teachers or because they are in cahoots with the yoga insurance companies. Rather, it's a risk mitigation tool. Risk is all around yoga teachers and yoga businesses. A student who pushes themselves too far during your asana and hurts themselves may seek legal action to be compensated. That’s where insurance is a vital protection. The yoga studio is asking for your COI so they can make sure that all parties involved are properly covered should a mishap ever occur. 

What to Look for on a COI for Yoga Insurance

Now that we understand just how important a yoga COI can be, what exactly should you be seeing on the form itself? Well, since the form is describing the terms of the insurance policy, chances are the person requesting the form is going to want to see adequate coverage is in place.

Coverage for yoga teachers can be all over the place and comparing policies really isn’t all that much fun. That’s why we did a lot of the legwork for you and created an entire yoga comparison page between our plan and that of the other top programs out there. We’re really confident that we are providing a great insurance plan tailored just for yoga professionals today at a truly competitive rate which is why we boldly put the information right on our site.

In general though, the COI is going to show the plan’s limits for different coverage areas, as well as the term. With a high-quality yoga insurance plan, you should see generous limits for general and professional liability, as well as product liability. All-inclusive coverage means you should also see protections for rental damage coverage like we talked about above, stolen/damaged equipment coverage, and also identity protection. When all of these elements are on a yoga COI, both the policyholder and the person requesting the COI can be confident in the level of protection the policy provides.

How to Get a Yoga Insurance COI Online in Minutes

Your COI is basically a promise that the insured has proper yoga insurance in place. This instrument is incredibly useful for business purposes and in what it represents in protection for the yoga teacher who has the policy. Whether you’re working as a 1099 in a yoga studio or renting your own space for yoga classes, a COI can be the gateway for peace of mind in your daily practice.


COI

With all the benefits a certificate of liability insurance provides, obtaining one through beYogi is refreshingly easy and straightforward. The process generally looks something like this:

  1. No Long Questionnaires: Unlike some of the other insurance companies out there, we don’t make our members fill out long questionnaires just to get a quote for coverage or a call from a pushy insurance salesman.
  2. Know What You Will Pay Up Front: Right on our site, you can see that an entire year of coverage costs just $179 for professionals, with additional payment options for added flexibility. Flexibility really is the keyword here as our plans were made to be accessible and easy to use from wherever you may find yourself to be.
  3. Quick and Easy Application: Signing up only takes a few minutes with a quick online application. You can also see that coverage applies to hundreds of different modalities from the get-go so no more wondering if your yoga style is covered.  
  4. Instant Coverage and Immediate Access to Plan Documents: After you check out, your coverage is instant and secure. You can then access your plan docs, pull up your COI, and get back to teaching yoga your way. 

That’s yoga insurance made to be as flexible as you. Learn more and join the tribe now.