Compare business insurance quotes with Savvy to find the best policy for your yoga studio
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As a yoga teacher, you know how important it is to your overall health to have peace of mind. You’ll be able to sleep easily at night by making sure you have the right business insurance to protect you just in case a covered event does take place, such as an accident or a member of the public sustaining an injury during one of your classes.
You can compare quotes for a range of different types of business insurance here with Savvy. Just answer a few simple questions about your business and the insurance you need and you’ll have multiple quotes from a range of respected insurers to consider instantly. Use our quick and easy comparison service to help you get the best value insurance for your yoga business today.
There are several types of business insurance you should consider if you run a yoga studio. These include:
Professional indemnity insurance
Professional indemnity insurance covers you against claims that the teaching service you provided was either incorrect or negligent. This type of insurance can offer you protection against many types of claims, including:
Cover starts at $250,000 and can go up to $10 million or more. The amount of cover you require will depend on several factors, such as the size of your yoga studio, if you employ any other instructors and how many students you teach.
What it covers
Public liability insurance
Working closely with the public can expose you to risks of personal injury claims levelled by students who may injure themselves during one of your classes. Public liability insurance can cover you against claims injury was caused to a third party or their property was damaged. This insurance can offer between $5 million and $20 million worth of coverage and may be a compulsory form of insurance in order to conduct classes in public spaces or before hiring halls or gyms.
What it covers:
Accident and sickness insurance
Fitness is a high priority for all yoga teachers. Have you thought about what you’d do if you injured yourself or became ill or were unable to work for an extended period due to an accident?
Accident and sickness insurance can provide cover for you if you become unable to work, providing a weekly replacement income and helping you pay your bills if you're injured or suffer a serious accident.
What it covers:
Optional extras can include:
What isn’t covered under my business insurance for yoga teachers?
Some of the most common general exclusions include:
There’s 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:
However, the cost of insurance also varies depending on where you live. For example, a yoga teacher buying business insurance in Western Australia may not receive the same quote as an identical yoga studio in Victoria, due to the different locations these studios are in.
There are many more variables which will affect the cost of your public liability insurance and other policies, so the best way to find out how much your insurance will cost is to get a free, no-obligation quote through Savvy so you can have exact numbers to compare. Whether you’re self-employed or work in a partnership with another instructor, you’ll be able to compare a range of policies from top insurers with us.
You’ve worked hard to organise and set up your yoga business, so it makes sense to want protection just in case a covered event takes place. Because we’re all human, mistakes can happen, so you’ll want to know you’re protected just in case you are the subject of a legal claim. Business insurance offers this protection for a variety of unexpected circumstances and can be a relatively cheap way of securing the coverage your business needs.
Most small businesses have some contingency funds to fall back on, but they’re rarely sufficient to cover the cost of a major catastrophe. For example, if one of your students experiences a life-changing spinal injury during one of your yoga classes, you could potentially face a personal injury claim which could amount to millions of dollars. If this happens and you have adequate insurance to protect yourself, you’ll have a far better chance of recovering and getting back to doing what you love quickly.
Find the best possible insurance coverage for your business quickly and easily here with Savvy's 100% free comparison service.
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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.
