How to Choose Insurance for Your Martial Arts School
What supplies do you need to open and successfully run a martial arts school? There are some pieces of equipment that the school should have: head guards, chest guards, foam shells, training bags, breakable boards, and staffs. A dojo for martial arts may also have exercise equipment and other weapons.
If there’s one thing every school should have, however, it’s insurance.
It should go without saying that you’ll want insurance for the building. You’ll also want insurance for your equipment. Since there’s also the risk of people getting hurt, you’ll want insurance to cover that as well.
There are plenty of factors to consider when selecting martial arts insurance. Here are some things to help you figure out which kinds of insurance you’ll need.
Martial Arts Necessitates the Right Kind of Insurance
Running a martial arts studio means that you need the right kind of policy. Something to keep in mind is that typical liability policies will not cover a claim if a student sues because of injury. That’s where accident and health insurance comes in.
If one of your students gets injured, you will have coverage.
Lawsuits involving student injury are the most common for martial arts schools. General liability typically will not cover these, or if they do, they come with an increased premium.
Accidental Medical Coverage
Accidental medical insurance pays for medical bills if one of your students is hurt, no matter who is at fault. Since it doesn’t matter who is at fault, you can receive a payout without determining fault.
Accidental coverage is used for out-of-pocket medical costs that primary health insurance will not cover.
To receive the payout, the incident will need to be documented carefully. There may be other requirements you need to meet as well. You should make sure your staff knows how to handle the documentation process.
When you select your martial arts insurance, you need to make sure that more than your classes are covered. You will also want to make sure you have coverage for practices, tournaments, and competitions. You should also have coverage for groups that travel to different activities.
Take time to understand your coverage and purchase a policy that covers all facets of your school. With accident and health coverage from pomi, we can insure all of those scenarios listed.
Who Receives Coverage?
Liability coverage often covers the owner, the school, directors, instructors, and other employees. Coverage for employees is also important and many states require workmen’s comp. Students and volunteers, however, are not covered under workmen’s comp so an injury to them could mean a potential lawsuit for your business. Students and volunteers injured on your premises will want to recoup their medical expenses for their injury.
Injury is the type of incident most people think about, but you should also have coverage for death. This coverage should also extend to spectators and volunteers. A good rule of thumb is that anyone that steps through your door should be covered under your policy.
Coverage for All Types of Needs
When you open a school for martial arts, you will need all sorts of equipment and supplies to run a successful school. You will also need martial arts insurance.
You will need coverage for your building and potential loss of business if your business suffers damage. You also need coverage for anyone who works in your martial arts school or anyone who may step foot in it. This includes students, but also guests or volunteers.
At pomi, we provide insurance for all types of business needs. We provide coverage for non-profits, kids camps, child care, schools, and many other types of businesses. If you are looking for coverage, check out our options and we can get you a quote.