Thursday, September 9, 2010

How Am I Covered After Purchasing Low-Cost Martial Arts Insurance?

Purchasing low cost martial arts insurance is one of the smartest decisions a martial arts school can do. The trick is to know how to get these affordable rates for their insurance protection. Going without insurance should not be an option. It takes just one accident to lead to countless financial problems, and may even bankrupt the school. However, even with these high risks, it is possible to protect yourself from financial risks by purchasing the right amount and type of insurance.

Do You Need Martial Arts Insurance?

Most martial arts instructors and studios need insurance. This type of insurance provides protection from liability. In other words, should a student receive injury while under your instruction, you need an insurance plan to pay for his or her medical costs? Further, it becomes important to protect against any type of liability claim against you, such as a family filing a lawsuit. There is no reason to be without this type of liability protection and, therefore, it becomes very important for a school or martial arts studio to find the right policy for its needs.

Understanding Your Coverage

Once you purchase low cost martial arts insurance, you can rest assured that you are protected. This type of insurance provides protection in a number of ways:

• All youth have protection under the plan when they are participating in sponsored activities.

• All adult students have coverage while they are participating in sponsored activities.

• You staff members have protection as well, if they are the staff members of the policyholder, when they are participating in sponsored activities.

• Members also receive protection when the member is traveling, directly and without interruption to and from the activity that is sponsored by the policyholder.

• This type of coverage extends to the policyholder, when he or she is driving to the member's home, as well, but only in situations where the route it directly to or from the school or sponsored event.

When considering these factors, it is important to note that the policyholder’s instructors or employees are not covered. In situations like this, the employees have coverage by workers compensation insurance, which every martial arts studio also should have in place according to state laws in your area.

When each of these factors is taken into consideration, you may believe the cost of such insurance will be too high for you. This is not necessarily the case. There are well-respected and financially strong companies that offer low cost martial arts insurance. These products are likely just what you need to protect your business and to ensure that your students remain protected as well.

Simply, there is no reason not to have full protection for your martial arts studio when it comes to insurance protection. Low cost martial arts insurance is available from trusted companies such as Martial Arts Liability Insurance that can help you to get the coverage you need for your business while also helping you to secure the low cost you need to keep it within budget.

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