Insurance for Yoga Centers

Yoga centers are both relaxing and rejuvenating at the same time. There is an energetic pace of activity that creates a soothing calm in your customers. This keeps them happy with your company, and likely to spread the word to their friends and family over time too. Owning a yoga center is a very satisfying business, but the type and levels of activity that occur each day puts your company at risk for accidents. Protect yourself from financial stress by carrying the right types of business insurance.

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General Liability

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Property Coverage

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Auto Insurance

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Workers Compensation

General Liability

General liability insurance is an all-around level of coverage that can protect you from many different things. It protects your business with a broad level of insurance against the expected and the unexpected. Whether your yoga center must pay a bodily injury claim to a customer or you find yourself in litigation due to advertising mistakes, general liability can help protect you from these events.

General Liability Insurance Includes:
  • Premises Liability – Premises liability coverage takes care of accidents and property damages that occur inside or outside of your yoga center. If a customer trips over a cord in one of your yoga classrooms for example, they may suffer injuries that require medical care. Your premises liability coverage pays for those medical expenses. It also pays for repairs and replacement if a customer’s personal property is damaged or destroyed while at your business location. If a customer’s car is parked in the parking lot and a storm makes a tree limb fall on it, your premises liability coverage will pay for the repairs.
  • Products Liability – If you sell products in your yoga center, you can be held legally liable if the product causes harm to a customer. Products liability insurance pays for medical bills or property repairs that result from the defective products your center sold. It also pays for your litigation defense and can cover settlement costs.
  • Completed Operations – When you provide services to customers, there is a small chance that problems arise after the services have been rendered. In your yoga center for example, you may offer massage services or stretching classes. If after you have completed those operations a customer claims injury or harm, your completed operations coverage can pay for the damages and associated costs.

Business Owners Policy

General liability insurance is included with a more comprehensive business insurance known as a business owners policy, or BOP. This insurance is flexible and can be tailored to meet the specific needs of your yoga center. The majority of the coverage available in a BOP is designed to protect your tangible and intangible business assets. Coverage examples include:

  • Buildings and Contents
  • Business Income and Extra Expense
  • Electronic Data
  • Newly Acquired or Constructed Buildings
  • Employee Dishonesty Coverage

Business Auto

If you or an employee drives for business purposes, your yoga center needs business auto insurance coverage. This insurance pays for vehicle damages caused in an auto accident, and pays for the medical care expenses when people are injured.

Workers Comp

Workers comp insurance is required by law in most states. This coverage protects your employees from having to pay large medical bills if they are injured on the job. When work related injuries and accidents happen, workers comp pays the medical care bills along with any other ongoing recovery and rehabilitation expenses.

Commercial Umbrella

Commercial umbrella insurance is an add on coverage that is designed to protect you above and beyond the levels of your regular business insurance policies.