Yoga is a low impact and safe exercise, but an accident can occur at any time. Yoga liability insurance protects instructors against legal actions bought about from claimants as a result of their teaching. Instructors have to take the necessary steps to protect themselves and their business. Here are four things you should consider when choosing liability coverage.
Review the Benefits
Instructors have to determine what the policy does and does not cover when choosing insurance. Many policies target studio owners and instructors who work for employers. Reviewing the benefits prevent instructors from choosing a policy that benefits studio owners.
Many fitness and yoga insurance companies offer specialized plans to meet the needs of instructors. However, instructors should look for certain types of coverage. Basic coverage offers two million per case with a four million dollar limit. It also offers $10,000 in coverage to pay for medical bills for the person suing. This prevents instructors from having to pay out-of-pocket. See more at yogabear.org
Personal injury coverage protects against lawsuits involving slander, libel and wrongful invasion of privacy. Commercial general liability provides protection for the facility that instructors own or lease. Product liability coverage protects against defective products and has a one million dollar limit.
A policyholder assumes certain obligations and responsibilities when taking out coverage. For instance, the policy holder has to meet a certain deductible before taking advantage of the benefits included in the policy. It is best to choose a policy that has an affordable deductible. If not, instructors should move on to a policy that meet their needs and budget.
Some fitness facilities require their instructors have insurance before teaching a class. On the other hand, insurance companies require policy holders to register and to show proof of license. Verifying this information protects the public and yoga instructors. A qualified instructor who has coverage shows the public that he is professional and has experience. Being qualified and having insurance also reduce claims.
Premium amount plays a big role in selecting the right policy. Instructors have to find a balance between the deductible for the plan and the amount of coverage desired. They also have the option of paying the premium monthly, quarterly or annually. Paying the premium on time is necessary for keeping the insurance active.
It helps to research rates, because yoga insurance varies depending on location. Rates range from $125 to $300 for coverage. The amount varies because policy holders have the option of adding memberships and perks to their plan.