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Insurance

topic posted Wed, November 14, 2007 - 10:12 PM by  katie 		Share/Save/Bookmark
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So, first off, hello! This is my first post on tribe, though I have been lurking for about a month now.

My question is about insurance. The studio where I am teaching does not carry insurance. Each individual instructor has there own insurance. It is a Yoga studio, so they have health/wellness insurance. I have been teaching classes there for almost a year now, and the studio director just casually mentioned the other day that I might think about getting some insurance for myself.

I'm wondering:
1. Do you have insurance ?(through the studio's coverage or personal)
2. Do you think I should request a larger fee in order to cover the cost of insurance?(I currently get 50% of the students fees).
3. All students have to sign a waiver, so do you think I really need insurance?

Thanks for your help, input, opinions, etc.!
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katie
offline katie
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  • Taaj
    Taaj
    offline 144

    Re: Insurance

    Thu, November 15, 2007 - 4:30 AM
    >>> 1. Do you have insurance ?(through the studio's coverage or personal)

    Yes. I think there is so much potential for bodily harm that anyone who doesnt have insurance is courting disaster. I have never had to use my insurance, but one claim could wipe anyone out, so why take the chance. It's very affordable and it allows you to do things that you couldn't (like dance in festivals) if you weren't covered.

    >>>> 2. Do you think I should request a larger fee in order to cover the cost of insurance?(I currently get 50% of the students fees).

    Yes, your expenses should be covered by the cost of the class.

    >>> 3. All students have to sign a waiver, so do you think I really need insurance?

    A waiver does not protect you from litigation- particularly if it is a poorly worded waiver.

    Taaj
    www.taaj.org
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    • Amira
      Amira
      offline 93

      Re: Insurance

      Sun, November 18, 2007 - 4:32 PM
      Very affordable? Where are you getting it, because I was quoted over $800 which was completely unreasonable! My insurance agent contacted 3 different companies and that was the cheapest. Please let me know where you have found it at a reasonable price, because it terrifies me that I don't have it right now. I do have students sign a waiver, but like was said in a previous post, in litigation a waiver doesn't really do much.
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      • Lara
        Lara
        offline 35

        Re: Insurance

        Mon, November 19, 2007 - 8:27 PM
        check to see what you were quoted for- professional liability insurance will run closer to $800-$1000, student liability should be $100-$350 (including misc. fees)
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        • Taaj
          Taaj
          offline 144

          Re: Insurance

          Tue, November 20, 2007 - 2:37 AM
          My insurance policy provided commercial general liability, professional liability of $500,000 per occurance, damage to rented premises $100,000, personal injury $500,000, general aggegate of $1,000,000 and products at $500,000, which is what most venues require. Each additional insured instructor or venue was $35.
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  • Zafira
    Zafira
    offline 55

    Re: Insurance

    Thu, November 15, 2007 - 6:58 AM
    I got insurance thru my agent for teaching. It is the same people that I have my homeowner's and auto insurance thru and because of that works out to about $16 per month. Definitely worth it!
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