Dance is a beautiful form of art that tells stories in ways that words can not. A great dancer is able to communicate and portray emotions to their audience with excellent musicality and perfected lines.
Unfortunately, this beautiful and fun sport can pose a danger to the dancer's body. Many dancers sustain injuries while dancing, either in the dance studio or on stage. In fact, more than 20 adolescents are treated for dance-related injuries each day in U.S. emergency departments.
As an owner of a dance studio, you'll need insurance to protect both you and your clientele.
This article will help you find the best insurance for your dance studio.
Why Insurance Is Important
Just like any other business location, dance studios are subject to potential harm. This harm can be done to either the actual location itself, the employees at it, or the people taking dance classes.
Types of Insurances
Unfortunately, you won't be able to find a single insurance policy that will cover your dance studio completely. You'll need to find different insurances and possibly enlist the help of an expert to set up a package for you. You can also just choose different plans and pay them separately, but that might prove to be a hassle down the line.
With that in mind, here are some of the insurances you'll need as an owner of a dance studio.
Commercial Property Insurance
This insurance is what protects your business from fires, broken pipes, storms, theft, vandalism, and explosions. Basically, most accidents that cause harm to your property are covered by commercial property insurance.
Keep in mind that though, just because most harmful accidents are covered, does not mean all are covered. Examples of typical incidents that might not be covered are earthquakes and storms.
Be sure to check with the insurance company about what accidents are covered by your policy plan. If you're in a city that is prone to natural disasters such as floods and earthquakes, you'll want to add that to your policy plan.
Your plan might even include additional coverage for what's inside your building. As a dance studio owner, this might include your mirrors, fans, furniture, computers, signs, documents, and inventory.
Worker's Compensation Insurance
Worker's comp is one of the most essential business insurances you'll need to get. In fact, U.S. law requires you to purchase worker's compensation insurance for your business if you're in any state except Texas.
This insurance does a few things. First, it provides both medical benefits and wage compensation to your employees if they are unable to work because of their injury.
Worker's comp insurance also pays for the injured employee's medical expenses, to a certain extent. For example, if a dance teacher at your studio falls and breaks an arm while teaching, they might require surgery. Worker's comp insurance will more than likely pay for this surgery so it isn't coming out of your pocket.
Accident & Health Insurance
Did you know that over 60% of organized sports-related injuries happen while practicing? That means that students at your dance studio pose a higher chance of getting injured while taking lessons rather than on stage. Because of that, you'll need accidental medical insurance.
Accidental & health insurance protects any students taking classes at your business. If an injury is sustained from a dancer or volunteer, accidental and health insurance from pomi will help pay for out of pocket costs for medical expenses. Slips, trips, and falls are common within dance studios. They're also the most common cause of injuries at businesses.
This insurance provides coverage to the person injured by paying for:
- Visits to the doctor
- Emergency Room and Urgent Care trips
Also covered are incidents that require medical attention such as sprains and broken limbs. In the very unlikely and unfortunate case that death might occur, that will be covered as well.
Additional Insurances to Consider
These are just the foundational insurances that you'll need whenever you run a dance studio. However, you might be interested in some additional protection as well.
Peace of Mind Insurance
In your search for the highest quality insurance for your dance studio, we highly recommend you take a look at our plans. At Peace of Mind Insurance (pomi) we prioritize the wellbeing of both you and the students coming to your dance studio.
We work hard to deliver you the best accidental medical insurance that money gets you. Much like our name suggests, we strive to offer you peace of mind knowing that you and yours will be covered and protected.
If you're interesting, please go ahead and visit our contact page to learn more about a possible insurance plan for your dance studio.