Yoga Insurance
Whether you own a yoga studio or a self-employed instructor, protect yourself from potential liabilities with Yoga Insurance.
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Insurance for yoga instructors
As an industry, yoga is rapidly expanding. With new styles (goat yoga, anyone?) and accessible offerings, anyone, anywhere, can roll out their mat and start a practice. However, despite the soothing nature of the practice, teaching yoga is a risky business. This is because yoga instructors offer a service, which often includes physical adjustments. As such, you may be liable for injuries or damage that occur under your instruction. Whether you teach part-time at a local gym or own a yoga studio, a robust risk management strategy is essential to your business’s survival.
What is yoga insurance?
When it comes to insuring your yoga practice, unique factors, such as modality, location, and additional services (e.g., Thai massage), must be considered to find the perfect coverage for you.
Our Yoga Insurance policy packages are specially designed to protect yoga instructors against specific risks, such as injuries or malpractice, commonly associated with wellness practices.
What does it cover?
Every yoga practice is unique, and insurance requirements may vary by modality; however, a comprehensive policy package for yoga instructors will typically include the following coverages:
- Commercial General Liability Insurance: General liability insurance, also known as “slip-and-fall insurance,” is a basic form of coverage that protects against day-to-day risks you may encounter while running your business. It can protect your business against claims of third-party bodily injury or property damage that occur in your studio/practice location. CGL may cover medical fees and legal expenses, regardless of the lawsuit’s outcome.
- Product Liability Insurance: Often included in your CGL policy is product liability coverage, which protects against claims alleging a product you distribute, manufacture, or sell, such as a slippery yoga mat, caused bodily injury or property damage. Damages usually covered by product liability are often the result of a design, manufacturing, or marketing defect, such as incorrect labelling and safety warnings. Our friendly broker team can help you determine whether or not you need product liability coverage.
- Professional Liability Insurance: Also known as Errors & Omissions Insurance (E&O), PLI offers coverage for misconduct, negligence, or failure to deliver a service as advertised. Whether you teach in-person or online, if a student feels the instruction you provided didn’t have the expected results, they could sue. For example, a student who took your advice on at-home poses to alleviate back issues claims the poses made their back pain worse and sues you for negligence. Professional Liability Insurance can cover legal fees and damages, including monetary judgments.
- Commercial Property Insurance: Commercial Property Insurance is critical for yoga instructors, as it protects your property (i.e., studio, equipment, inventory) from an insured peril. An insured peril is an event that is covered by your insurance policy, such as a fire or theft. Your broker could walk you through the policy to ensure you understand what events are covered by your commercial property insurance. Commercial Property Insurance policies often include business interruption (a.k.a. business income) coverage, which provides reimbursement for net income lost following an insured event.
- Please note, that business interruption coverage will not cover income lost due to a pandemic, infectious disease, or government-mandated closure.
- Cyber Insurance: On-demand and virtual yoga sessions are growing in popularity, allowing students to access yoga classes anywhere with stable wi-fi. Whether you offer courses online as part of your business model or due to restrictions imposed by COVID-19, if you store client data (e.g., financial, medical), you are liable to protect this information. Cyber insurance may cover the costs associated with cybercrime (e.g., cyber hack) involving your technology systems and data.
How much does yoga insurance cost?
Many factors go into the cost of insurance for your yoga business. Yoga teachers can anticipate premiums starting from $330/year on a Commercial General Liability and Professional Liability Insurance package with a combined limit of $2M.
When you complete our online application, we will ask some questions about your business to understand your needs better. The following factors are taken into consideration when determining the best policy options for you and your business:
- Training and Experience
- Annual and Projected Revenue
- Services Provided
- Number of Employees
We’ve partnered with over fifty insurance providers to offer you different options that suit your business needs at the best price.
Who needs yoga insurance?
Freelance Yoga Instructors
Working as a freelance yoga teacher is a pretty flexible gig (pun intended); you can set your hours, offer private lessons, and contribute your expertise to corporate and special events. However, operating as a freelance yoga instructor has unique risks from an insurance perspective. Unless you are working full-time at a studio, you are unlikely to be covered by an employer, meaning you need comprehensive insurance that travels with you. If you offer lessons at multiple locations, general liability insurance is required to cover any injuries that occur during a session or potential property damage at a client’s house.
If you sell or manufacture products, product liability insurance could provide coverage should a customer claim your products caused bodily injury or property damage (e.g., an allergic reaction to a proprietary essential oil blend). Professional liability insurance may provide coverage for any claims of negligence or malpractice, such as advice that results in an injury. If you offer lessons online, cyber liability insurance may provide coverage should your data system be compromised.
Not only will purchasing insurance protect you from financial loss, but it may also help in securing jobs, as clients want to see their yoga instructors are adequately insured.
Suggested Coverage:
• Commercial General Liability Insurance
• Product Liability Insurance
• Professional Liability Insurance
• Cyber Liability Insurance
Yoga Studio Owners
Comprehensive coverage that can withstand teaching yoga, managing employees, and general business liability risks is critical to running a thriving yoga studio. In addition to general liability and commercial property insurance, which are often required to rent or lease a space, several other policies can protect your studio from claims and lawsuits.
Studio owners who sell or manufacture products are advised to look into adding product liability insurance to their policy, which covers injuries or property damage resulting from a product you manufacture, sell, or distribute. A professional liability insurance policy can protect your business from claims alleging negligence or misconduct. If you store any client data, use a Point of Sale or scheduling software (e.g., MindBody), cyber liability insurance could help your business recover from a cyberattack.
If you have full-time employees working at your studio, they are likely covered by your yoga liability insurance. However, it is essential to note that your coverage limit applies to all employees of your business, not each employee. One option to accommodate all of your employees is to increase your limit. Hiring freelance instructors that carry liability insurance is another way to ensure all parties have adequate coverage.
Suggested Coverage:
• Commercial General Liability Insurance
• Commercial Property Insurance
• Business Interruption Insurance
• Product Liability Insurance
• Professional Liability Insurance
• Cyber Liability Insurance
Online Yoga Instructors
We live in a digital world, and with the prolonged impact of COVID-19 on small businesses, virtual offerings have become the norm. If you offer yoga classes online via Zoom or another platform or sell online courses, you run the same risks as those teaching in-person. If you instruct virtual courses, you are providing an online service. You will want to protect your business against negligence claims or failure to deliver a service as advertised with professional liability insurance.
For those selling products alongside their digital offerings, product liability insurance protects against lawsuits alleging bodily injury or property damage due to a product you sell or manufacture. Of course, anyone collecting information about their students (e.g., financial, health) will want to protect their business with cyber liability insurance in the event of a cyberattack.
Suggested Coverage:
• Product Liability Insurance
• Professional Liability Insurance
• Cyber Liability Insurance
Common claims scenarios
Problem: After an exhaustive hot yoga session, one of your clients slips on a wet studio floor, injuring their head. The client ends up suing you for the injuries.
Outcome: Your Commercial General Liability Insurance policy could cover the $27,000 lawsuit against your business.
Problem: A client who took your advice to do specific yoga poses to relieve their lower back issues sues you for negligence, claiming the advice provided made their back pain worse.
Outcome: Your Professional Liability Insurance policy could cover the $30,000 cost to pay for the lawsuit.
Problem: A faulty essential oil diffuser caused a small fire in your studio, resulting in damage to some of the yoga equipment you owned.
Outcome: Your Contents Coverage policy could cover the $10,000 cost to replace the damaged equipment.
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