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YogaBC Insurance FAQ's for Yoga Teachers and Yoga Studio Owners
Choosing the right insurance coverage is one of the most important decisions you'll ever make. As a yoga teacher or studio owner you need to protect yourself, your yoga studio and your clients with proper insurance coverage. Yoga teachers and studio owners should do their homework in exploring the options available to them. YogaBC has provided some things to consider when doing your research to help you make an informed choice in order to protect yourself and your business. Note: YogaBC is not a broker of insurance. The information provided by YogaBC is intended to guide readers in their own research. Readers are responsible for selecting their own insurance providers and appropriate policies. Prices may vary dependent on your circumstances - contact an insurance provider directly to learn what terms apply to your circumstances. General Insurance Questions
Why do I need liability insurance? Liability insurance protects yoga instructors and studio owners from costs and damages incurred by potential legal actions against you or your business. Physical damage or loss of property incurred by anyone receiving yoga instruction from you or visiting your studio can put you at risk of significant loss, even if acting within the scope of your duties. Having coverage by way of liability insurance is good risk management for all yoga teachers and studio owners. The facility where I teach has insurance and they have me covered. Do I need my own insurance?If you're teaching as an independent contractor, it is increasingly common for the studio, gym, or other facility that hires you to require that you have an individual policy of your own. Facilities that don't have this requirement because they have coverage can forget to renew regularly, or have exclusions that leave you unprotected. What should I look for in an insurance provider?YogaBC encourages teachers and studio owners to consider their risk protection needs and seek out answers. Some things you may want to consider are:
YogaBC encourages yoga teachers and studio owners to do their due diligence before committing to an insurance policy. Areas you may want to ask about include:
YogaBC is not a broker of insurance, however we do partner with a very reputable provider who recognizes the yoga industry and understands the needs of teachers and studio owners. A benefit of being a YogaBC Member is the opportunity for reduced insurance rates. As a YogaBC member, how can I get a discount on insurance for myself or my studio?Included in your YogaBC Membership information package is an insurance application from Godoys & Ververgaert Insurance Brokers Inc. When you apply for insurance you will need to show proof of your YpgaBC membership in the form of both your YogaBC Membership Card and payment receipt in order to be eligible for the discounted insurance rate. I want to become a YogaBC Member to receive the discounted insurance rate. How long does it take for my YogaBC Membership to be processed?All YogaBC applications that are received with all requirements completed and attached are processed near the end of each month. To ensure your YogaBC Membership is processed within two weeks, please have your completed YogaBC application emailed or mailed to us by the 15th of the month. Applications that meet all requirements will be mailed out by the end of the month. After becoming a YogaBC Member and applying for insurance, how long will it take for my insurance to come into effect?Once your insurance application has been completed and received by Holly Nurmi at Godoys & Ververgaert Insurance Brokers Inc., your new insurance policy will be completed and active within 5 working days. How much will my insurance cost and what will it cover?Yoga teacher liability insurance doesn’t have to cost a lot. Insurance companies use a number of factors (such as the specific type of yoga taught) to determine premiums for studio owners and teachers. Insurance policy terms may vary and rates can change at any time making it challenging to make direct comparisons between companies.
The rates shown are the basic base premium. There are many more options available to you (e.g. to increase your liability limits, add additional or specialized services such as PreNatal, Hot Yoga, Teaching Yoga, etc.) Your broker can help guide you to make the best choices to suite your personal needs. Additional layers will increase your rates and all your coverage spans throughout Canada. I need insurance right away and would like to receive the benefits of a YogaBC membership. What can I do?You do not require a YogaBC membership to get insurance, however it will provide you with an opportunity to get a reduced insurance rate. We recommend you contact both us and Holly Nurmi at Godoys & Ververgaert Insurance Brokers, Inc. within the same email so we can assist you as best we can.
If you have any questions about your insurance needs, please contact Holly Nurmi and tell her YogaBC referred you. Holly would be happy to answer questions, provide a quote, or help you select a plan that will best fit your individual needs.
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