What is Yoga Insurance
When you hear people talking about yoga insurance, we’re talking about the different types of insurance that a yoga teacher or yoga studio needs to protect them in case something happens while you are teaching or when someone is at your studio.
Liability insurance protects you from lawsuits, any type of lawsuit, that might be filed against you or your business.
For the cost, it’s one of the most important things any business can have when starting out. And the same goes for yoga studios.
Do i really need yoga insurance?
SInce 2001, yoga related injuries have increased over the years. Of course, a lot of this is simply because more people are practicing yoga.
And more studios are opening up to teach yoga. With that being said, you’ll want to have the right coverage for your studio or for your individual teaching practice in case something happens while you’re teaching.
People use the term yoga insurance, and there are a few different types of coverage that you can have. But the type that most need to look at is the liability insurance. And there are different scenarios where you want to have insurance.
Remember that you can’t buy insurance after a file has been claimed so you’ll want to make sure that you’re covered from the beginning.
As an individual who works at a studio or who travels to different locations to offer yoga classes, you’ll want to have liability insurance. It’s a small amount to pay for peace of mind no matter where you teach.
Also, having insurance already will likely work in your favor if you’re looking to get hired by a studio.
If you’re already working for a yoga studio, don’t assume that they have liability insurance and don’t assume that if they do have insurance, that you’re covered. It’s best to get coverage for you as an individual no matter what.
As a yoga studio, you’ll definitely want to have liability coverage. Liability insurance helps you in any situation if someone decides to sue you for anything.
Did you know a lawsuit can be filed against you or your studio, even if you are not at fault in the situation? Liability insurance just adds an extra level of protection against anything happening while teaching yoga.
Types of Yoga Insurance
This is the most popular type that you’ll want to look at getting. It covers most general items that fall under lawsuits. Most plans include things like:
- Bodily Injury
- Libel or Slander
- Property Damage
You choose the amount that you want to be covered for, usually 1-2 million dollars with different deductibles.
And if you want sell things like dietary or nutritional supplements, then most insurance companies will let you add this as an optional addon.
You’ll want to check with the insurance company to make sure your style of yoga is covered. This is just because some styles might have a higher chance for people to get injured. Bikram and Jivamutki usually have no problems getting covered.
Since styles like aerial yoga have higher risk factors, you might need to discuss your options for that with your insurance company.
This is the type of insurance that yoga studios and yoga teachers want to cover your practice. If you’re giving a class and someone strains their body, they might file a claim against you for improper instruction, causing their injury.
This is more for yoga studios and covers your property against theft or damage onsite.
How Much Does Yoga Insurance Cost
The annual premiums on the insurance range from $100-300, depending on what type of insurance you get, your deductible, and the type of yoga you offer.
And the great part, is many offer monthly payments to keep the insurance up to date.
There are a handful of yoga related insurance companies you can go with. Below are the top 5 that you should look st for price, ease of use, and industry leaders.
There are so many unfun things to have to deal with when getting into business. But taking the time to pick the right insurance for your yoga studio or individual teaching needs is critical peace of mind to have when growing your business.
Disclaimer: Please consult your lawyer for any legal advice since and please use this as informational help only.