Tuesday, July 10, 2012

Martial Arts Insurance with Participant Liability Coverage

Participant Liability Coverage is the most essential provision that a liability insurance policy can provide Martial Arts schools. Many martial arts schools use Basic Liability insurance to satisfy lease requirements. This might appear to be a good plan, however Basic Liability insurance won't defend you in the event of student or tournament participant injuries, involving your business. If you must have insurance to enter a lease, make sure that you are protected with the proper coverage.

A martial arts school in California recently closed, due to a major lawsuit, from a disgruntled student, who alleged that they were injured while training. Even though the school possessed liability insurance, their policy didn't include "Participant Liability Coverage". As a result of not having this specific type of coverage, the school was forced to close, because they couldn't afford to defend themselves in court.

Numerous interviews with martial arts school owners, regarding this incident, compelled them to critique their own policies, with the aid of their insurance agents. Without the necessary protection in place, similar incidents pose a serious threat to any martial arts school. Many school owners, who were interviewed, were outraged. After careful research and consideration, "Martial Arts Group" and "Martial Arts Insurance" were identified as the best online sources for insurance policies, encompassing Participant Liability provisions.

Martial Arts Group Inc. was noted for offering premium finance options and great customer service. Their staff even offered to prepare the entire application, over the phone, if required. There were some minor, additional fees, but the services, which they provided were well worth it.

If you are prepared to complete the entire application on your own and save some money in the process, then Martial Arts Insurance is the best option for comprehensive coverage, at the lowest price. “We have witnessed a significant increase in the amount of claims, in recent years. The increase in claims could be the result of many things. A poor economic climate and inadequate supervision of martial arts schools are a few possibilities. There is not enough information, at this time, to form the best conclusion.” says Donald Prue.

What is Martial Arts Insurance and who needs it?

The overwhelming majority of landlords insist that prospective martial arts school owners have the correct liability insurance coverage, before entering a lease agreement. If you desire to open your own school, you must have a policy; for your landlord's protection as well as your own.

You need Auto Insurance for your automobile. If you're a home owner, you should safeguard your residence with Home Owner's Insurance. Martial Arts School owners should also protect their investment with the right coverage. If a fire occurred in your business, how would you replace all of your martial arts gear, computers, or various equipment? Business Insurance Policies usually include this kind of coverage, however adequate Martial Arts Insurance policies will contain "Participant Liability Coverage". This crucial provision covers injuries, sustained by your students and/or tournament contestants, at your location.

Many martial arts business owners operate from their home and assume that their Homeowners Insurance will protect their entire enterprise. The reality is; very few policies will cover in-home business property or offer the necessary liability protection. If you plan to operate your school, within your residence, you will most-likely have no coverage, with a Homeowners policy. The future is unpredictable and a minute mistake could result in an expensive lawsuit. If you can't afford to defend yourself with adequate legal representation, you must have dependable liability insurance.

Your organization is responsible for any accidents, misjudgements and/or incidents, leading to student/participant injuries. If you're a sole proprietor, all of your personal assets are in danger. Make sure that you've got the right provisions in your insurance policy. Many people constantly search for opportunities to sue businesses for a quick fortune. They do so with the support of unethical attorneys, whose sole desire is to obtain out-of-court settlements. They usually succeed as a result of the high expenses associated with an effective legal defense.

Until the judicial process penalizes those who abuse it, you must shield yourself from these possibilities and follow every necessary precaution to avoid pricey and frivolous lawsuits. Martial Arts Insurance is a reputable provider of Martial Arts Insurance Policies, which embody "Participant Liability Coverage" provisions.

Content Coverage for Martial Arts Insurance

Content coverage is an additional provision, which can be added to a Martial Arts Insurance policy (for an additional cost). Depending on several factors, it may be necessary or optional for martial arts school owners.

The most important factor is your landlord's lease requirements. Some landlords state in their lease agreements that your insurance policy must provide coverage for property contained in your business, in addition to plate glass replacement coverage. Other leases are silent relating to any specific types of additional coverage. The best source for insurance policies with content coverage is Martial Arts Insurance.

Typically, content coverage for martial arts insurance covers theft of business equipment/supplies, such as: computers, merchandise (uniforms, weapons, and sundries), mats, mirrors, workplace equipment, etc. Some policies even have coverage for plate glass windows. If you have a basic school (with only mats and mirrors) and there aren't any lease requirements to hold this sort of coverage, you may not need content coverage. If your faculty has computer equipment and/or merchandise, it would be within your best interests to safeguard your business with content coverage.

Be careful when determining the exclusions for content coverage, in your insurance policy. Content coverage provisions rarely cover water damage other than the kind caused by interior water line breaks. Insurance coverage also rarely includes fire damage, occurring at a location, outside of your school’s walls. This means that if a business, adjacent to yours, in a strip mall or similar location, catches fire, you may have little or no coverage for any damages sustained by your business. Landlords typically have policies for their entire complex, with coverage for those types of occurrences.

Martial Arts School owners must make the following assessments, regarding content coverage:

  • Is content coverage necessary to satisfy lease agreement requirements?
  • Do you have enough valuables, in your business to justify the additional protection and associated cost?
  • Are you able to afford the additional premium amount, assessment, or combination of all three?

Once you read the policy provisions and costs associated with this additional insurance coverage, you will be able to make an informed decision as to whether or not to purchase this insurance. It’s very helpful; particularly if you already know that you would be unable to sustain any type of financial loss due to breakage or theft. If this is your circumstance, we strongly suggest that you purchase Content Coverage, which will become an integral part of your overall liability policy. The best source for content and plate glass coverage is Martial Arts Insurance.

Critical Considerations when purchasing Martial Arts Insurance

1. History of our company
Martial Arts Group Inc., was founded in 1990 by two Martial Artists, who were dissatisfied with the high cost of Martial Arts Insurance, and took the initiative in reducing their expenses. They also appealed to other Martial Arts School owners, with similar difficulties, who eventually became customers.

2. What type of insurance coverage do you offer?
We currently provide insurance policies, essential for Martial Arts school owners. The most common policy is liability and health care insurance coverage for participants and owners. We also offer school contents insurance, which protects products presented for sale and equipment found inside the school. In addition, tournaments, camps (all sorts) and MMA coverage is also available. We recently incorporated Workers Compensation insurance, which is expected by the States of New York, New Jersey and California and is gaining momentum in other States.

3. The most important things to consider before purchasing martial arts insurance.
The largest factor to consider is; can you survive a million dollar lawsuit? Martial Arts instructors educate their students in self-defense; instructors must also defend themselves with the right Martial Arts Insurance coverage. Hopefully you will never have to rely on your policy, but if so, you'll need a complete insurance policy. Instructors should always investigate the company and verify their credibility because insurance is the instructor's first line of self defense.

4. Do most martial arts schools carry insurance?
Is it a requirement?
All Martial Arts Schools should carry liability insurance coverage. Over 90% of landlords demand that Martial Arts School owners have liability insurance prior to entering a lease agreement.

5. Is your insurance coverage reasonably priced for the typical, single-location school, or is it primarily for larger businesses?
We are proud to offer the most affordable, full-service, and readily available insurance coverage in the industry. Regardless of school dimensions, all customers are treated equally. No school is too small or large.

6. What type of incidents does the insurance cover?
Example scenarios and the benefit of insurance
The most prevalent incident is a student-sustained injury while training. We have processed several claims in which a student sustained a neck injury and the studio was sued. Accidents do occur, which is why all school owners, need liability/health-related insurance coverage. Instructors should ensure that their policies have Participant Liability provisions. Only policies with Participant Liability coverage will protect them from student injury-related lawsuits. Unfortunately, many policies do not have Participant Liability Coverage.

7. How are your products or services different than your competitors?

  1. We submit all the vital paperwork for our consumers.
  2. We serve as a buffer between the insurance organization and our clients, which expedites policies, claims and so forth.
  3. Client service.

8. What makes your business effective?
Customer service. Several of our customers have switched to us because they couldn't reach a single person from their previous providers, due to poor customer service.

9. How do you advertise your services?
Print media, online and word of mouth. We get most our consumers from word of mouth because our policies and customer service is fantastic.

10. Is there anything else that I should know?
The most vital points to consider is the importance of "Participant Liability Coverage" and the high-quality customer service that we provide.

For best online source for comprehensive Martial Arts Insurance, please visit www.martialartsliabilityinsurance.com

MMA (Mixed Martial Arts) attracts numerous people and revived public interest in the Martial Arts

Public interest in the Martial Arts has escalated in spite of its recent decline in 2008. Martial Arts Insurance is mandatory! The recognition of Mixed Martial Arts (MMA) is driving the Martial Arts industry. MMA has attracted enormous amounts of adults and children to schools. Martial Arts training has the allurement of increasing fitness, discipline and self-defense ability. This rise in enrollment brings a lot more exposure, potential accidents and lawsuits. Because MMA is a combination (mixture) of the most effective techniques, from the best fighting systems, it may present a greater risk of injury while training.

Many martial artists go to great lengths to ensure the safety of their training facility, but regardless of how cautious and precise instructors may be, during training, accidents do happen. Instructors can make training sessions safer by applying mats, padded coaching equipment, security kicks, safe punches, mouth guards, groin protectors and lots of other goods. Accidents take place no matter what precautions you consider and present attainable lawsuits. A slip and fall or unintentional strike may cause a student/participant to require medical treatment. A host of possible scenarios could result in a lawsuit, therefore Martial Arts Insurance is essential for martial arts school/tournament venue owners.

Students could be instructed with Bo workers, Nunchakus, Tonfas, Sais and Swords, or just undertaking techniques. Regardless of how protected your coaching facility is, accidental injuries are unpredictable. Accidents occur and when they do, the risk of a lawsuit increases dramatically. Having the right Martial Arts Insurance policy will safeguard you in these situations.

Accidents and injuries are not confined to your studio; they also occur during tournaments. If you organize/host tournaments, you need a Martial Arts Insurance policy with tournament coverage. Activities such as fighting matches, weapons divisions, breaking or any other events, increase the risk of potential injury. Your risk of lawsuits increase with each event, included in your tournament.

Injuries are a normal way of life for martial arts practitioners, but you must be sensible about the type of insurance that you obtain. Any policy that you acquire must include "Participant Liability Coverage" provisions, which will cover all students/participating, in your school or event.

Purchasing Martial Arts Insurance

Purchasing Martial Arts Insurance is not as simple as it may seem. The cheapest Martial Arts insurance coverage may not offer the necessary level of protection for your business. You also don't want a policy which provides too much coverage. You must find a balance between an insurance policy that provides the proper legal and financial protection, at the best cost.

You should assess your Martial Arts Insurance requirements, prior to making a purchase. Your landlord will outline the amount of coverage required, in the lease agreement.

It is absolutely critical that your policy includes Participant Liability Coverage provisions. This will protect you from lawsuits, arising from students who may have been injured, while training in your facility. The vast majority of policies do not cover your students. Without participant liability coverage, any insurance policy that you get WILL NOT guard your business in these circumstances. Not only are you wasting your money, but you are risking the future of your institution. You are only 1 nasty lawsuit away from the collapse of your business.

Your policy should have some form of healthcare and accident coverage to qualify for Participant Liability coverage. If 1 of your students suffers an injury while training and they are uninsured, they will be covered by your policy.

You should also consider including Contents coverage for your school. This type of insurance will cover your business/personal property, located in your school. Your personal items, gear and inventory, and other items will be protected from fire or theft, if you have Contents coverage. A fantastic Contents policy will also cover your plate glass windows.

If you have any employees, you should also consider Workman's Compensation Coverage. This form of coverage is mandatory in many states. Most states consider any paid assistants, as well as those who receive discounted or totally free instruction, as employees. There are stiff penalties for breaking this law.

Make sure that you obtain your policy from a trusted source. Many brokers/agents will sell you a policy without Participant Liability Coverage.

Looking for a Martial Arts Insurance policy with Participant Liability provisions and Content coverage options?

Your best online source for Martial Arts Insurance: Martial Arts Liability Insurance