Often people ask, “who does cheap insurance”. The question should actually be, “what kind of insurance cover do I need”? As a yoga teacher, it is likely you will need some sort of insurance when teaching classes. The type of classes that you regularly teach will dictate what kind of insurance cover you will require. Here are some things to consider when choosing the right policy for you.
The level of Public Liability insurance will vary depending on where you are taking your classes. Teachers taking classes at one place, such as a yoga studio, will require different cover to teachers that take outdoor classes, teach in council or public spaces, to those that lease their own premise. If you do teach at public spaces, the council will often require a minimum level of Public Liability insurance, such as $10 million. When researching your policies, you will need to check the policy that you choose has the appropriate amount of Public Liability cover. The amount you will pay annually will be more if you need a higher level of cover.
In the unlikely and unfortunate incident that you teach or touch someone in an adverse way, you will want to ensure the level of Public Liability covers you for the type of teaching you do. If you are unsure if the style or type of teaching that you do is covered, when doing your research, ask the insurer. You may also need to consider if you teach others to become yoga teachers. There are time fractions included in some policies, where you are covered if mentoring other teachers, however if you are mostly teaching training programs, you may need to consider a different policy.
When you lease a premise, you may also have insurance requirements dictated in your lease, such as “plate glass” or “glass endorsement”. Speak to the insurance company to ensure this is also covered. Studio owners may also wish to seek cover for loss of business. During my time as a studio owner, I had the brick flooring downstairs sealed, and the fumes were too toxic to continue classes at the studio. Insurance can cover the costs of loss of income, or paying for an alternative venue to take your classes from. If you are selling products, you may also need Products Liability insurance too.
Once you selected and paid for your insurance, you will need to ensure you are issued with a Certificate of Currency, with all of the information being up to date and accurate. Also speak with the insurer if there are any obligations with having students sign a waiver, and if they are able to provide a statement to include on your waiver/information forms.
Make sure all concurrent approvals are in place. If you are teaching outdoors, ensure you have the relevant permits from the local council, or if you are teaching children a Working with Children clearance from the Police. In the unlikely event you need to make a claim, you won’t want any excuses for an insurance company not to pay you.
It is more important that you ensure your policy covers you for all of the yoga teaching that you provide, than it is to have the cheapest cover. So do your research and find out the appropriate cover you need, do your research for who provides this cover and then compare which is the best value for money.