7 Things to Know Before Buying a Yoga Teacher Insurance (Not Sponsored!) | Yogipreneur

Transcript

hi guys welcome to yoga burn yard my name is Alina and today we're going to discuss yoga insurance this is the topic that a lot of yoga teachers don't want to get into because this is just hard and trust me I know when I first got my first yoga insurance I had no idea what I was doing whatsoever so hopefully this video will help you in that sense let's get started in my video on how to become a yoga teacher I talked briefly about insurance and it's important and I told you a story that happened to me during my first yoga teacher training I'm going to link that video in the cars and down below in the description so that you can see that but without repeating this story I'm just going to tell you that the day I graduated from my first yoga teacher training I guide my yoga insurance I knew I wanted to teach right away I just went online type into Google yoga insurance and I got a few links I clicked on them and just somehow they're randomly I decided to go with one of them that I don't know I guess the colors spoke to me and I just went for it the good news was died from that day I had yoga teacher insurance and I never ever ever taught a class without it and that's something that I encourage all of you to do the bad thing is that I actually had absolutely zero clue what was happening on my insurance policy I had no idea what in it I just knew I had an insurance and I thought it was protected unfortunately that is not always the case so the subject needs a little bit more research than that and I'm done some for you so I'm going to share it with you in this video so first thing I want to tell you is don't be overwhelmed with this don't be scared off this topic and yes it doesn't sound like it's yogig topic and we don't want to get into it but it's actually not that hard once you start researching and actually once I started researching this I realized that there not a lot of companies that are competing with one another there are a few companies and you see those names over and over again that are there just to provide you a yoga insurance and there are a few national companies that provide general insurance and they also can give you a professional entrance as well so in reality there are not a lot of companies to compare don't be overwhelmed just start looking into it and that's my best advice to you so once you start looking into it here are the main things you want to compare and you look one to look into it first of all obviously rate and that kind of goes without saying but yes don't want to overpay but you still want to make sure that you are covered so the regular yoga insurance would cost anywhere from a hundred and fifty dollars to four hundred dollars per year so yes it is an investment but no it's actually not gonna break the bank and in my opinion it's so worth it so that you later on can easily teach your classes without having second thoughts about your Q's about your adjustments obviously you've always wanted to be very very safe and careful with these students but knowing that you're insured and protected and safe it's absolutely priceless so you do want to spend those money on your insurance and especially if you are teaching and you're still a student there are some student found that I have found online and definitely look for it I'm some companies provide them so that might actually bring the price even lower another thing to look at is the hidden fees and most of the times they're actually in the membership fees this is me talking about those companies that are just specialized on yoga professionals on yoga insurance and usually they do have membership fees it's not necessarily a bad thing because generally you get a lot of perks for those membership fees but it will bring the price a little bit higher so consider what is more important to you if at this point in your life you don't want to spend any more money on your insurance then go for one without a membership fee and if at this point of your life you're more interested in different hurts from a certain organization that they yoga lines or yoga journal then definitely look into it is they might have exactly what you need the next thing to look into is are you covered and that sounds crazy right I just purchased the yoga insurance how can I not be covered but make sure that the services that you're providing are covered by your policy what does that mean there's so many styles of yoga there are so many types of yoga and if you're teaching let's say a CRO or if you're teaching restorative make sure that that is what you have on your policy and especially if you're teaching something put me outside the box again make sure it is there make sure that you're protected because if your insurance only covers hata yoga then most likely you will not be protected if someone gets injured in your yen class so just something to be very mindful of and that's another read watch a sign so when you're looking into the policy when you're looking into your insurance you want to breathe before your purchase you want to breathe before you sign your name on it the third thing to look into is where you're protected okay here's the trick most of the policies will protect you in the yoga studio but what if you teach outside what if you teach on the beach or in the park or it's someone's home or a private in a gym or somewhere else make sure that those places will also be covered if someone there get injured make sure that you're still protected another the thing to look into when you're signing your insurance the next thing to be aware of what is professional liability and what is general liability and it looks like those companies especially for me at first I thought they were trying to trick me because so many words I have no idea what that meant let's get it straight professional liability is something that kicked in when a student gets injured directly from your cues and maybe from your adjustment so something that comes directly from your actions to the students that's your professional liability the general liability is let's say you mop the floor in the studio and then your students slipped fell broken arm god forbid that happened to any of you but that's when the general liability kicks end ideal you want to be protected on both sides if you do want both things to be stated in your insurance be mindful of that read for it read for those exact words the amount of money that you want to be covered for at the moment is around two million dollars it used to be a little bit less it used to be around million dollars but what looking into it in the last couple of years there has been more and more cases when people were sued for bigger amount so the industry standards have risen in the last couple of years to two million dollars and again you want to look separately into how much money you are covered for on each occasion and total throughout the year those are usually different numbers just the things to look for one more thing to look into is deductible and that is actually hard to look into because not something that those companies are going to put on the front page of their website you might have to either start signing up for the insurance to get this question answered or you might have to call the representative and talk to them directly on the phone but before you put your name on an insurance you need to know how much money you will have to pay out of the pocket god forbid something happens to your students and remember that it's better to spend another 30 minutes on the phone with the representative then later be very very sorry that yes you were covered for let's say 2 million dollars but you have to pay the first million dollar out of your pocket which obviously sounds crazy but you have to know those things don't overlook them and the last but not least it's actually something very very good look into different extra benefits that you can get it from your insurance since you're already spending all that money there are companies that provide some extra benefits just to stand out of the crowd there are companies that would give you a free professional website or the coverage stolen equipment or other things just like that something that Yogi's need and usually these things are provided by companies that just focus on yoga professionals so make sure you look for it because those are some good things you get for your money if if you're spending all that anyways for the entire year so those were the main seven things that you want to look into when you're choosing your insurance and I know that it's actually quite a lot of information that I just poured on you guys so I did a little bit of research off my own and I'm going to put the link right below this video to the file that you can download where I have compared ten different companies for all this criterias actually even more criterias than this so I've done a little bit of homework for you it doesn't mean that you have to take any of those policies those are just some examples one more advice I have for you new teachers if you're looking for a policy ask around for the teachers in your town in your city because there might be some area specifics that we have not covered in this video so your local teachers might be able to recommend you something that would work the best for your city for your town for the style of yoga that you're teaching always have that option available don't be afraid to ask around thank you so much for staying with me for this video I hope it helps you a lot in this whole yoga business madness in this insurance policy thing that Yogi's just absolutely hate getting into and I know because I'm gonna be and I hate the topic but hopefully I just shed some light on it and you can see that it's not as scary remember to remember to