Public Liability Insurance for Martial Arts Business
Whether you just started practicing martial arts or are an experienced martial arts instructor, there is so much at risk. You could accidentally injure a customer or cause damage to their property. This is why you need public liability insurance for martial arts business. With this coverage, that is normally included in general liability insurance policies, which are also our recommended coverage type as it covers your from both public claims and claims and lawsuits coming from employees, vendors and business owners, you can focus on your practice without worrying about possible claims from members of the public, your customers.
Public liability insurance for martial arts businesses covers a wide range of claims. Here are some of the areas it covers;
Injuries
When instructing your martial arts class, you may accidentally hurt a student. Afterward, the student might file a claim against you, especially if the injuries are severe. Public liability insurance for martial arts will protect you against such claims. Similarly, when you leave your kit bag on the classroom floor, and someone trips on it and breaks their ankle, you might face a lawsuit that could lead to losses.
Equipment Repairs and Replacements
Generally, equipment used in martial arts is very expensive. Your martial arts business could suffer a serious blow if the valuable equipment were stolen or damaged. Without insurance cover, you will have to use money out of your pocket to repair the damage. Thankfully, with martial arts insurance, your equipment is covered for and will be replaced or repaired in case of damage. This will help you get back on your feet in no time.
Whether it is clothing or training aids, this insurance policy covers it. This policy is so important that some landlords ask for it before letting you rent their commercial building. You should purchase martial arts gym insurance that also protects against damages to the rental building. This will go a long way in preventing financial losses.
Karate Insurance
Regardless of age or gender, self-defense is the main reason many people do karate. Having the ability to defend yourself is empowering, and karate is one of the best self-defense tools at hand. If you are a karate instructor, you know the risks associated with this sport. Things can easily get out of hand, putting your karate business at risk. This is why you need karate liability insurance that protects you from possible claims.
Karate instructor insurance covers you against several lawsuits. For instance, when you accidentally injure your trainee during a karate session, they might file a claim against you. This could result in financial losses if you don't have karate liability insurance. Therefore, you should purchase karate liability insurance policy for better protection. If you run a karate school though, you should seek karate school insurance policies. Same goes for karate studios, gyms and clubs.
Martial Arts Insurance Cost
The average martial arts insurance cost is around $73 per month or $876 per year for a small martial arts business $1m general liability insurance policy. However, some martial arts schools may spend up to $5,500 per year. This means that martial arts insurance cost varies from one martial arts business to another. Several factors determine the martial arts insurance cost. For instance, the size of your martial arts business determines how much you will spend on the policy. Established martial arts programs and schools can spend up to $1,000 per month. On the other hand, a self defense instructor insurance cost may get as low as $25 per month or $300 a year. Furthermore, your business's geographic location will affect the amount you pay monthly in insurance. Other factors like the claims history and risks your martial arts business faces could also affect the total cost.
