Your passion is helping students perfect their yoga practice, from mastering poses to finding balance on and off the mat. However, despite your best efforts to teach your students about body awareness, yoga injuries can happen—and all too often, you have no control over them.
But there are a few things you can control. When all it takes is a single accident to jeopardize your business, it’s easy to see why yoga teacher insurance is essential.
But how much does yoga teacher insurance cost? Let’s breathe in, breathe out, and then run some numbers.
How much does yoga teacher insurance cost?
Yoga teacher insurance cost is mostly determined by the type of coverage you need to purchase. Teaching exposes you to a number of third-party risks, making it ideal to have both general liability insurance as well as professional liability insurance to protect your business.
General liability cost for yoga teachers – Based on the Thimble Yoga Teacher Insurance policies sold, here are the median costs of general liability insurance for yoga teachers:
- $5 per hour
- $15 per day
- $29 per week
- $22 per month
Professional liability insurance + general liability insurance cost for yoga teachers – Students rely on your expertise and recommendations to become better yogis, which exposes you to more risk than just third-party bodily injury or property damage. You wouldn’t practice movement without breath; similarly, you get better results when general liability insurance and professional liability insurance protect your business. Based on Thimble data, the median costs of general liability insurance and professional liability insurance for yoga instructors are:
- $10 per hour
- $37 per day
- $54 per week
- $59 per month
Equipment insurance – As an instructor, you likely invested in various yoga mats, blocks, bolsters, straps and other equipment to use when teaching. To protect the gear you take with you to train clients, you need a type of coverage known as Business Equipment Protection.
Based on our data, the median monthly cost of monthly Business Equipment Protection plans is:
- $6 per month for a $1,000 coverage limit
- $15 per month for a $2,500 coverage limit
Why do yoga teachers need liability insurance?
As yoga has become more popular, the number of yoga-related injuries has risen steadily, especially for people over the age of 65.1
General liability insurance is the most common coverage type a yoga instructor will need. Commonly known as slip-and-fall protection, general liability insurance provides coverage for the investigation, defense, and settlement for third-party claims relating to the following:
- Non-employee bodily injury
- Property damage
- Personal and advertising injury
Professional liability insurance is just as important for yoga teachers. Students follow your guide in class, and often outside, on how to be a yogi. Should a student claim that your advice resulted in a financial loss, you could be liable. For example, you lead an expensive teacher training, but insufficiently cover core concepts the student needs to get a job. The student sues you for their financial loss. Professional liability insurance could help you pay for the investigation, defense, and settlement of such claims.
What factors impact how much yoga teacher insurance costs?
In yoga, poses must be modified to fit different bodies. Yoga teacher insurance is built to meet the needs of instructors. Choosing the right coverage can help you avoid costly liability claims.
Although each situation is unique, generally speaking there are several factors that can impact the cost of business insurance. These include, but are but not limited to:
Business location – The area where your yoga business operates can have a significant effect on the cost of your insurance premiums. For instance, working in a metropolitan area increases the likelihood of an accident occurring, since there are more potential students.
Crew size – The more employees you have, the greater the chances that an accident occurs. The larger your crew of yoga professionals, the higher your premiums.
Coverage limits – The type of coverage you select will also determine your premium costs. Higher limits will cost more, but also provide greater levels of protection. At Thimble, we offer two liability coverage limits of $1 million and $2 million.
Coverage length – The duration of your coverage impacts the cost. With Thimble, you can get yoga teacher insurance when you actually need it. With our flexible on-demand coverage, purchase insurance by the hour, day, week, or month.
Other types of insurance for yoga teachers
Alongside general liability and professional liability coverages, there may be some other insurance types worth considering, (or that may be legally required. Here are a few.
Workers’ compensation – If you have employees, this is legally required in almost every state. Should an employee fall sick or injure themselves while working, workers’ compensation coverage protects your yoga business from the financial consequences of this adverse event. Make sure you’re aware of the specific state laws to protect your yoga business employees.
Auto liability insurance – Most likely, your personal auto insurance will be sufficient if you use your small car, van, or pick-truck to drive to and from training sessions. However, if your yoga business is listed as the owner of the vehicle, you almost always need separate commercial auto insurance. (Insurance can be as complex as advanced poses.) Talk with your auto insurance provider to ensure you’ve got the right coverage before an accident happens.
Commercial property insurance – Do you own or lease your yoga studio? If so, commercial property insurance can help you cover the costs of damages to the building structure and its contents, including your equipment or inventory. As you might imagine, prices can fluctuate dramatically due to several factors, like:
The size of the premises The age and type of building The equipment and property within The building location Security and safety considerations
Master the right insurance coverage
Your passion is bringing the physical practice and yogi teachings to your students. Doing so comes with inherent risk, and should an accident occur, you could face costly expenses. Save the warrior poses for the mat, and protect your business with insurance:
- Purchase both general liability insurance and professional liability insurance for yoga instructors.
- Know that yoga teacher insurance can range from $5 per hour to $22 per month.
- Look into Business Equipment Protection to cover the gear you take to train clients.
- If you own or lease a studio, you may need commercial property insurance.
At Thimble, we’re all about finding the perfect plan for everyone, just like you! Typically, business insurance is only available with an annual coverage that you pay monthly. However, we believe that flexibility is strength.
That’s why we provide on-demand Yoga Teacher Insurance that you can purchase by the hour, day, week, or month— when you actually need it.
Protecting your yoga business is fast, simple, and affordable. Just click “Get a Quote” or download the Thimble app, answer a few questions, and we’ll generate an instant quote. Click to purchase and your policy and Certificate of Insurance (COI) will be sent to your inbox. We’ll send you as many as you need, if you work at different studios.
All of this can be done in less than 60 seconds—faster than you can move from warrior two to triangle pose.