Stress and sedentary lifestyles can wreak havoc on people’s health, and yoga has proven itself a worthy option for helping improve physical, mental, and emotional well-being. Because of the recent boom of the yoga industry, many people are seizing the opportunity to open their own studio.
However, there is often a wide discrepancy between styles and methods of yoga, and not all of them are accessible to the average student. Add to that the varying amounts of training and experience held by instructors, and there can be a high risk for personal injury lawsuits. While this type of business requires many of the same legal protections as other health and wellness facilities, you will want to pay special attention to other potential risks inherent in running a yoga studio.
What to include in your studio’s insurance policy
Properly insuring your studio helps mitigate the risk of litigation. Here are some important things to consider when purchasing insurance coverage for your yoga studio:
- Although yoga instructors typically carry their own liability insurance, you will also need to cover all employees and owners by the studio’s insurance policy
- Be sure to list all the services you offer, including the various types of yoga taught and consumable items sold
- Riskier forms of yoga including acroyoga and aerial yoga might not be covered by your traditional policy and therefore will require a special endorsement
As you begin to pull together all the aspects of your new business, make sure you have a solid legal foundation set. Having a good understanding of your legal obligations and the scope of your insurance policy will protect you and your business for the years to come.