The number of yoga practitioners in the U.S continues to grow. As with any physical activity, more participants means more risk; and yoga-related injuries are on the rise. Some may be as minor as a twisted ankle while others may result in torn cartilage, dislocations, and torn ligaments.
The truly frightening part? As the teacher, you could be held liable and required to pay damages. Whether the cause of an accident is a student’s poor conditioning, a momentary distraction, or simply bad fortune, the reason for a claim doesn’t always matter. A yoga teacher can be responsible for damages including medical care, hospital expenses, physical therapy, and loss of wages—an amount that can far exceed your income.
A claim doesn’t have to disrupt your livelihood. There are two vital forms of insurance for yoga teachers:
- General liability insurance, covers claims like bodily injury or property damage caused by negligence related to your business.
- Professional liability insurance, also known as errors and omissions insurance, covers claims alleging negligence in providing or failure to provide professional services.
Both coverages protect you from claims and lawsuits even if the charges are groundless. Today, more than ever, you should carry liability insurance, even if a claim never materializes. Here’s seven reasons why:
- Broad coverage: Liability insurance for the yoga community includes coverage for professional and general liability claims—the two main sources of claims against a business—but it also includes coverage for other types of liability, like accidents arising an event.
- Protection against debilitating defense costs: If you’ve ever had to use the services of a lawyer, you know that legal fees for just a few hours of consultation can add up fast. They can be larger than a judgment, and could even bankrupt a business.
- An affordable option: In most cases, insurance costs less than the price of cup of coffee per day.
- Freedom of movement: The insurance policy that many studios have typically doesn’t cover instructors who teach at different venues or just part-time. With an individual policy, you have protection no matter where you work or whom you teach—children, adults, or seniors.
- Increased employment opportunity: An individual liability policy can open doors and smooth the process of obtaining work at other studios.
- Professionalism: Carrying insurance on your business—whether you operate your own studio or work for another—demonstrates a level of professionalism and shows that you accept the responsibilities of running a business.
- Peace of mind: General and professional liability policies provide extensive coverage that travels with you and protects you from both existing and emerging risks. This important barrier of coverage provides invaluable peace of mind that you’ll be covered in the event of an accident.
Liability insurance can give you the confidence and support to practice your craft undeterred by risk as you spread the many benefits of yoga to the growing community.