Yoga Instructor Insurance in Richmond Hill

Errors and omissions insurance (professional liability insurance)

Professional liability insurance, also known as errors and omissions insurance, is meant to protect your yoga studio business should a claim of negligence, professional misconduct, or the inability to provide services.

This insurance policy covers you if a client claims that your professional instruction or yoga services caused them harm or injury. For example, a client suffers injuries as the result of a class in your yoga studio, this insurance protects you against legal liability should they file a third party bodily injury claim against you.

Professional liability insurance will cover legal fees, health expenses, and other costs, whether negligence has been proven against you or not.

Commercial general property insurance

Commercial general insurance protects your yoga studio, yourself as a teacher, and any employees you may have from legal liability against claims of bodily injury or property damage that happened when a client was at and on the premises of your yoga studio. This policy will cover legal expenses, health costs, and more.

Commercial property insurance

Aside from commercial general liability insurance, commercial property insurance protects the physical building and any items within the building from physical property damage, theft, or complete loss by covering the cost of repairs or replacements.

Typically, this property insurance offers coverage against damaged caused by natural disasters, floods, fire, or another insured peril listed in your policy and typically extends to equipment damage, personal item, damage, and theft of inventory or personal belongings.

Cyber liability insurance

Cyber liability insurance protects your yoga business against cyber attacks that may happen against you. Because you’re collecting personal information about clients and handling online payments, cyber liability insurance can protect against potential data breaches and other cyber hazards by covering legal fees, and other associated costs.

Product liability insurance

Product liability insurance protects you against against third-party claims of bodily injury or property damage due to a product that is sold and distributed from your yoga studio. For example, if you sell yoga mats, water bottles, or other products, you could be held liable if a client injuries themselves with said product that they have purchase. But with this coverage, you can have peace of mind knowing that you’re protected.

Business interruption coverage

For a yoga instructor, business interruption insurance is an essential coverage policy that protects your business against any financial loss that could result from physical property damage to your studio like a fire, flood, or other property damage.

In the event that your business is damaged, this business coverage helps reimburse you for any lost income that arises during the period where your business is closed for repairs. In a lot of cases it can also provide financial assistance for any ongoing expenses like rent and employee salaries.

As you can see, there are numerous yoga coverage options available for yoga practitioners in Ontario to choose from.

When choosing what policies you want to purchase for your yoga business it’s always a good idea to speak with insurance agents or brokers who specialize in business or specific coverage for fitness professionals, whether you offer thai massage, personal training sessions, physical adjustments, and new styles of yoga.

They can help tailor an insurance portfolio that fits the specific risks associated with your yoga activities and location, whether you’re traveling between clients or operating out of one physical commercial location.

Remember to shop around and compare quotes from different insurance providers as it can help you find the right coverage for your individual needs and for the best price. It’s also essential that you carefully read the terms and conditioners of your coverage, so you know exactly what is and isn’t covered under your policy.

If you have any questions regarding your insurance, contact Oracle RMS in Richmond Hill, Ontario, today!

Contact Oracle RMS for an affordable yoga insurance policy today!

Navigating the insurance world can be difficult, which is why the experienced insurance brokers from Oracle RMS are here to help guide you through the process of finding coverage you can feel confident in.

To work with a broker from Oracle RMS, give us a call directly or shoot us an email at any time. Alternatively, if you’re looking for competitive yoga insurance quotes on-demand, fill out our free online quote tool from the comfort of your own home!

FAQs

What type of insurance do I need if I am a traveling yoga teacher?

As a traveling yoga teacher, you may want to purchase commercial auto insurance on top of other policies listed above. If you use a personal vehicle to travel from one destination to the next, commercial auto insurance provides protection against accident related damages that may occur while you’re on the road that personal auto insurance may not cover.

Additionally, if you have employees use your vehicle for work-related purposes, commercial auto insurance is also meant to protect them if they are operating your vehicle and are involved in an accident.

Beyond this, we suggest also purchasing

Do I need additional coverage or two policies if I teach yoga and pilates?

It depends. Because yoga and pilates are different in how they are taught and performed, each fitness practice comes with its own set of risks and professional liability. While some aspects of your insurance policy may overlap, it may be worthwhile to hold to separate insurance for both.

We suggest reaching out to an insurance provider directly, or working with a broker from Oracle RMS to learn more about the different types of yoga insurance and pilates insurance available. Our brokers have access to some of the Canada’s top insurance companies, enabling us to focus in on your unique needs and budget, so you can get a policy for your yoga practice that you can feel confident in.

Do  female yoga teachers pay more for insurance? 

No, female yoga teachers do not pay more for insurance coverage than what a male yoga instructor would pay. While the premium you pay will depend on the insurance company you work with and their pricing structure, like all business insurance, the following factors that will be taken into consideration including what type of training you have, coverage limits, how many years of experience as a yoga instructor you have, the types of services you provide, the insurance coverage you choose, and more.

Therefore, if you’re interested in getting an insurance quote, reach out to the team from Oracle RMS to speak with a broker directly, or use our quick online quote tool.

Do you need a license number to get yoga instructor insurance? 

Yes, yoga instructors, you will need a license number to purchase insurance. Because yoga instructors are regulated in Ontario under the Fitness Practitioners Association of Ontario, they must adhere to licensing regulations. Therefore, if you are a certified and active member of this association, you will need to use your license number when speaking with insurance providers, so they can make note of it on your file.

The Right Coverage For You

At The Best Price

“I purchased my first car a year and a half ago and called Oracle for car insurance quotes. They have excellent customer service – in particular, Chris was very helpful in getting me a great rate. He is extremely prompt at answering any questions I have about my policy and about anything insurance related! I highly recommend this brokerage.”

Andrea Lee,
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