Compare business insurance quotes with Savvy to find the best policy for your martial arts studio.
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Martial arts often involves close contact between participants, so having the right business insurance is vital for any martial arts school or studio. Professional indemnity and public liability insurance are necessary if you teach contact sports where participants have bodily contact with each other, such as in many forms of karate, taekwondo and kung fu.
You can compare quotes for all types of business insurance here with Savvy. Just answer a few simple questions about your business and the type of martial arts tuition you offer and you’ll have multiple quotes from a range of respected insurers to consider instantly. Use our quick and easy comparison service to make sure you get the best value insurance for your martial arts school today.
There are several types of business insurance you should compare if you run a martial arts school, studio or gym. These include:
Professional indemnity insurance
Teaching martial arts will always involve the risk of a student getting hurt, which could lead to a claim that the fitness advice you provided or techniques you taught were negligent or resulted in a personal injury. As such, professional indemnity insurance is essential for all martial arts instructors and is often a requirement to hire a studio or gym or to conduct classes in open spaces, such as a council-owned park.
This type of insurance policy covers you against claims that the teaching service you provided was negligent or fell short of expected professional standards. Cover is available starting from $2 million but can extend up to $10 million or more.
What it covers
Public liability insurance
Public liability insurance is also essential for anyone running a martial arts school or studio. It will cover you against claims that your business activity caused injury to a member of the public or damaged their property. This insurance can offer cover ranging from $5 million up to $20 million.
Since there can be some overlap between professional indemnity and public liability insurance, having both types of insurance as part of a package with the same insurer can make the process of submitting a claim far simpler.
What it covers:
General business insurance
General business insurance may also be worthwhile if you have a training studio or fitness equipment to protect as part of your martial arts business.
This can include portable equipment insurance, which will cover all your training equipment if you do offer classes in the open air or public parks. Commercial vehicles aren’t included as part of this business insurance, so you may need separate commercial vehicle protection if you have a work vehicle or van which you use to transport your training equipment.
What it covers:
Limited business interruption insurance
What isn’t covered under my general business insurance?
The most common general exclusions include:
There is no set cost for an insurance policy, as each applicant is different and faces unique risks. Many factors influence the cost of business insurance, including the following:
The main factor which will affect the cost of your insurance is the industry you’re in. All businesses in Australia are classified according to the risk their industry poses, and are allocated a risk ratio. These ratios are used by insurers to calculate the comparative risk of any one business compared to another.
However, in general, businesses in northern areas of Australia will have higher insurance costs than businesses in the southern or eastern states. This is because northern states offer a higher insurance risk due to the threat of cyclones and devastating tropical storms. For example, the cost of public liability insurance in Queensland for a martial arts instructor may be higher than a similar business being run in Melbourne.
You can find out how much insurance will cost for your business by comparing quotes right here with Savvy. Whether you need insurance for teaching martial arts or as a fitness instructor or personal trainer, you’ll be able to find a policy that suits your business needs with more confidence.
Any situation where you are offering physical training to the public comes with its own risks. A student can easily injure themselves (or another person) whenever there is contact between participants in a sporting environment, so it’s all too easy for an instructor to be found liable if an injury does occur. Business insurance is there to protect you in case a claim is ever made against you or your business.
Most small to medium-sized businesses have some contingency funds to fall back on, but rarely have sufficient to cover the cost of a major catastrophe. For example, if someone suffers a serious spinal injury in your martial arts studio or gym, a resulting personal injury claim could amount to millions of dollars. If this happens and you have adequate insurance to protect you and your business, you’ll have a far higher chance of recovering and getting back on your feet quickly.
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Disclaimer:
Savvy is partnered with BizCover Pty Ltd (ABN 68 127 707 975, AFSL 501769) to provide readers with a variety of business insurance policies to compare. Savvy earns a commission from BizCover each time a customer buys a business insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via BizCover.
Savvy does not compare all business insurance policies or providers currently operating in the market. Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.
For any further information on the variety of insurers compared by BizCover or how their business works, you can read their Financial Services Guide.
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© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
