Sunday, October 17, 2010

Why Are Martial Arts Liability Insurance Prices So Low? What Does It Include?

When purchasing martial arts insurance, there are many factors to take into consideration, but the one that so many people focus on is the cost. When you obtain an insurance policy from Martial Arts Liability Insurance, for example, you may be shocked by just how affordable this type of insurance actually is. The fact that it is affordable is important, because it allows even smaller schools and start up organizations to obtain the necessary insurance to be protected from that one incident that could bankrupt them otherwise. However, many ask, why is it so affordable from this company?

There are several reasons why the martial arts insurance from Martial Arts Liability Insurance is so affordable as compared to similar companies and their products. The fact is, with this insurance, you do most of the work, which reduces the amount of time and money the company has to pay others. In other words, you are helping the company to keep costs lower.

In addition to this, you are responsible for your policy's management to some level. You must ensure that the policy is correct. You also are responsible for naming any additional people or locations to be insured. You are responsible for submitting all necessary paperwork for the claim and following the key guidelines provided to you at the time of obtaining the policy. In addition to this, you have to make sure that the claims are properly signed and completed in total.

Once you do your part, martial arts insurance provides you with the level of protection that you need. You are responsible for selecting a policy that works for your particular needs, of course. However, you can select medial and liability coverage that may provide:

· Coverage for accidental death and specific loss, up to a specific amount

· Accident medical expenses, up to the specific amount of your policy

· The liability policy will have limits in the following ways, per event aggregate, each occurrence, products/completed operations aggregate, participant liability each occurrence, damage to premises you rented, and medical expenses of any person or organization except for the participants.

The costs of obtaining martial arts insurance are often far less than what would be expected if you were to purchase the same policy through another company. However, consider what could happen if you did not have this necessary policy in place. Many businesses struggle when they have just one claimed filed against them without any insurance protection. In short, one lawsuit is all that it takes to close a business's doors and restrict the business's ability to perform.

The most important element in obtaining martial arts insurance is selecting a policy that fits your needs. While costs are an important part of the process, it is quite important to ensure that the policy provides the coverage needed primarily. With Martial Arts Liability Insurance, the costs are only secondary to the quality of service and coverage you obtain when you purchase a martial arts insurance policy for your organization.

What Are the Requirements for Getting Martial Arts Insurance

Martial arts insurance is one of the most important types of insurance products for companies in this business. is a company offering the necessary protections for any business or school teaching martial arts. The company's policies may provide the right type of insurance for your needs. Before you elect to purchase this insurance, though, it is important to ensure you can meet the requirements of the company. In most cases, getting martial arts insurance is possible.

Understanding Potential Requirements

Each situation is unique, which is why every school must fill out an application to obtain the necessary insurance. Below are some of the most important parts of such an application for martial arts insurance.

· You will need to state what type of instruction you provide. This may include a description of the type of martial arts you perform such as kickboxing, karate, jujitsu, judo, shotokan, cardio, tai chi and so on.

· You will need to discuss any potential liability claims you have had, particularly in the last five years.

· You will need to meet any requirements for the number of students you have.

· You will need to have a release waiver on file for each of the students you are working with. This release waiver will protect your business from any liability claims.

· You will need to state if you offer contact boxing.

· You will need to list the types of sparing gear you use, including mouthpieces, headgear, groin protectors, boots, breast and chest protectors, and other items. You will also need to explain the rules of using this gear as well as the sparring rules in place.

· Do you use any weapons? If so, how are they used, what types and what are the rules in place for using them?

· You will need to state if you have additional insured or any additional locations that need to be covered or are covered.

· You will need to consider the value and importance of having some type of contents and equipment coverage.

· You will need to determine if you need tournament coverage. If so, this can be added to your policy as it is need.

In addition to these factors, it is also important to take into consideration the rules and regulations surrounding the martial arts insurance. Most applications provide you with a variety of details and terms to read. Read them and understand them. If you are not sure how they work or what they include, ask for an explanation or contact your attorney to read through the application and the policy.

In many cases, trustworthy companies such as Martial Arts Liability Insurance will provide you with all of the information you need to make a decision about obtaining martial arts insurance and what regulations you need to meet. If you have questions about these policies, simply take the time to ask questions and to investigate further. The key is to be honest in your application so that you receive an accurate quote.