The ancient practice of martial arts continues to grow in popularity. People are enrolling in professional martial arts schools all over the world. Aspiring students have a variety of disciplines to choose from, including Judo, Aikido, and Kung-Fu. People interested in stress reduction and agility may study Tai Chi while those seeking an intense workout might select Cardio Kickboxing or Mixed Martial Arts. Training in the martial arts is also a great way for a person to acquire self defense skills.
The demand for excellent martial arts training has led to the opening of schools and studios. One question many owners and teachers of martial arts ask is why much martial arts insurance is needed to open a school.
Acquiring martial arts insurance for a school or studio is similar in many ways to obtaining insurance for any type of business. You need the right amount of coverage, and the proper they of coverage, to protect your business, your staff, and your students. Some insurance decisions are made based on the type of martial arts school you intend to open.
One choice is to open and operate a school in its own location, such as in a shopping center, strip mall, or stand alone building. In this case you will need to insure your facility and equipment from events such as fire, flooding and theft as well as any natural hazards for your climate like hurricanes, earthquakes, or tornados. This coverage is important whether you own or rent your location and is in addition to martial arts insurance, which provides coverage for liability.
Some martial arts teachers choose to meet with students in their home or at the student’s residence, or to hold classes in other places such as community centers or gyms. In these situations you will need martial arts insurance that covers you in all the locations that you will work.
The most important type of martial arts insurance that you will need for your school is insurance that covers your liability in the case of accident or injury. All martial arts disciplines are physical activities and there is always the possibility of someone getting hurt. Today lawsuits are commonplace and many people who are injured, will sue for damages, even if they were at fault. One lawsuit could wipe out a school without adequate martial arts insurance.
While most insurers can write a good policy to cover your building or equipment, they may not have the expertise to put together a policy that will cover all the needs of a martial arts school. When acquiring martial arts insurance you should work with an agent or company that has experience in covering martial arts schools and businesses. Many schools participate in off-site competitions and other events and it is important that your martial arts insurance covers all school sponsored activities.
An experienced insurer will conduct a risk assessment of your school and help you find the level of martial arts insurance that will protect your students and your business.