4 Reasons to Consider Insurance for Your Yoga Studio

If you run a yoga studio, you probably don’t need us to tell you that yoga is scientifically proven to combat anxiety.

Sometimes in life, you can say namaste and breathe out your fears. But there are also times when you should take practical steps to protect your property. Investing in insurance for your yoga studio is one of these.

Keep reading to discover four reasons why insurance coverage for your yoga studio is a good idea.

1. Yoga Studio Coverage Can Pay Out if Someone Gets Injured During a Class

Yoga can be a powerful way to bring about inner peace, but it’s also a highly physical art that often involves inversions, complex poses, and acts of balance. Yoga injuries can range from mild muscle strain to sprains and dislocations.

If someone gets hurt in your studio while attending a yoga class, who will pay the bill? Preferably not you directly.

If you take out comprehensive insurance to cover your yoga studio, you should be covered for injuries that happen on your premises. Whether someone faceplants from a handstand scorpion pose or pulls their back when the instructor asks them to do a bridge, you won’t have to stress about the medical bills.

In most cases, yoga injuries aren’t the studio owner’s fault. But this doesn’t mean you can’t assume liability. If a class member feels like the instructor was acting negligently or the premises or equipment was to blame, you might become liable for the costs associated with their injury, as well as any loss of earnings they experienced.

2. You’ll Also Be Covered for Third-Party Liability

Yoga studio coverage can also provide you with third-party liability coverage. In other words, should an outside party’s presence cause injury to someone in your studio, you’re covered.

Here’s a quick example. Let’s say you get an electrician to install extra outlets in one of your studio spaces. They have to run a lead through the hall. Someone visiting your studio trips over the lead and breaks their nose. Although you didn’t put the extension lead down, you can still be held liable under personal injury law.

If this does happen, your insurance will kick in to cover the costs.

3. Yoga Studio Business Insurance Can Also Protect Your Equipment

Anyone who’s gone shopping for a yoga mat knows that yoga equipment isn’t cheap. Advanced yoga practitioners usually don’t need much more than a mat and a quiet space. But beginners, older age groups, and students with injuries or impairments will certainly need things like blocks, bolsters, and wedges.

Besides this yoga-centric equipment, you might also have valuable fittings at your studio, such as computers, other electronics, and furniture.

If your equipment gets stolen or damaged, you can recoup the cost from your business insurance policy.

4. The Right Business Insurance Package Will Also Offer Workers’ Compensation

If you invest in comprehensive yoga studio coverage, it will also include workers’ compensation. Workers’ compensation insurance is available when on-the-job injuries or resultant illnesses occur.

It protects you as a business owner from unexpected expenses related to worker injuries.

Do You Need Protection for Your Yoga Business?

If you run a small yoga studio, you might not have realized that you need commercial business insurance. Just because yoga studios are peaceful places doesn’t mean accidents can’t happen. When they do, you want to be prepared.

Are you in need of insurance for your studio? Here at Oliver E. Soden Agency, we specialize in business insurance, including insurance for yoga studio spaces.

Request a quote today and take the first step to protect your yoga business.