How Does Insurance Work for Dance Studio?

Are you wondering how insurance works for dance studios? If YES, here is everything you need to know about insurance for dance studios.

Dance studios serve as places to teach the art of dance. A studio may choose to specialize in one specific type of dance or offer all types. Some studios also offer instruction in cheerleading and gymnastics. Dance studios are known to have smooth floors, generally hardwood, with the flexibility to absorb the impact of various dance steps.

As the owner and operator of a dance studio, have it in mind that you may encounter many of the same risks that business owners in other industries meet.

For instance, your business space could be damaged in a fire, a storm, or by an act of vandalism; a vendor could trip, fall, and suffer an injury while dropping something off at your studio or an employee could even meet a work-related injury.

You also face some unique risks; for instance, a student could get hurt while participating in one of the dance classes that you sponsor. Different types of dance studios have different risks to address when it comes to dance studio insurance.

While you may be able to cover all of your dance studio’s insurance needs through national carriers, there may be some special circumstances where you need a smaller boutique insurance provider.

If any of the above-mentioned incidents happen, as the owner of your dance studio, you may be held liable and will be tasked with paying the related expenses. The cost of medical bills, property damage and legal fees can be very expensive. If you aren’t properly insured, then you will be expected to pay for these expenses out of your own pocket.

However, having the right dance studio insurance coverage in place can help you avoid serious financial issues because if something does go wrong, instead of paying the related expenses yourself, your carrier will cover them for you.

Best Insurance Policy for Dance Studio

In the United States, there is no single policy that covers all of the insurance needs of dance studios. Therefore, you will have to either acquire individual policies or a business owners’ policy that covers the basics. Examples of the type of coverage you will need include:

1. Business Owner’s Policy

A business owner’s policy is a policy every dance studio should have. Note that this policy groups two of the most vital types of coverage: general liability and property coverage. A dance studio owner needs a general liability policy in case a non-employee gets hurt in the studio.

While the property coverage in a BOP pays to repair or replace damaged buildings or equipment, Bops also cover losses, such as when a student sues after slipping in the changing room. These policies may also pay for your legal fees.

2. Professional Liability Policy

Note that dance instructors in a dance studio can be sued for advice to clients if the client sustains an injury. If an instructor advises a student to go on a diet that puts the student in the hospital, a professional liability policy will have to take care of associated claims. An instructor sued for bad advice on nutrition or dangerous instruction needs professional liability coverage.

3. Commercial Auto Insurance

If you always travel to different locations to provide instruction or transport students in company vehicles, it’s very crucial that you have commercial auto insurance. Note that your policy also covers lawsuits if you cause an accident and you can add coverage for damage that occurs to your vehicle while driving for work.

4. Workers’ Compensation Insurance

Indeed, dance studios are known to employ multiple instructors or support staff such as receptionists or cleaners. Everywhere in the United States, companies that employ others are mandated by law to acquire workers’ compensation coverage in case employees are hurt on the job.

Although the rules differ by state—for instance, Texas doesn’t require coverage and some other states don’t require you to acquire a policy until you have several employees. Nonetheless, having a policy ensures medical costs and disability benefits are paid to injured workers.

5. Accident Insurance & Medical Payments

Accident insurance and medical payments most times are excluded from dance studio insurance unless elected as an additional rider. Note that this coverage sees to the medical expenses of someone injured while performing the physical activity in non-negligent incidents.

For instance, a dancer coming down from a jump and twisting her ankle and since the instructor didn’t give incorrect advice, this isn’t a professional liability claim nor is it a slip-and-fall that would be a general liability. Therefore, without medical payments coverage, the student may need to sue the studio if she can’t afford her health insurance deductible.

Best Dance Studio Insurance Providers

Whether you own a dance studio or are an individual dance instructor, acquiring coverage that protects your interests is very critical. A good insurance company will help you decipher the right coverage for your business with a quick, no obligation application. Here are the top dance studio Insurance providers.

1. Nationwide

Nationwide is a national insurance carrier that provides personal insurance lines such as auto and home insurance as well as extensive options for small business insurance. Nationwide can extensively help business owners protect their business property, including the actual building, assets, and supplies as well as protect companies with general liability and business interruption insurance.

Nationwide is a wonderful option for studio owners who offer children’s programs in a primary studio or third-party location, like a school. Notably, if you want an adequate policy covering many of the risks faced as a studio owner—including protection for accidents on your premises coupled with those at an off-site location—Nationwide is the ideal choice for you.

2. The Hartford

This is a small business insurance leader that provides extensive policies across the country. The Hartford’s reputation for innovation with insurance starts with how it has established a business owner’s policy (BOP) that is both affordable and also has more coverage options than its competitors.

The Hartford is the ideal choice for dance studios where dance lessons include exhibitions at local events such as schools and local fairs. Dance instructors can also get comprehensive coverage that include medical payments for student injuries during dance lessons.

3. Hiscox

As a small business insurance specialist, Hiscox is renowned for understanding the unique risks faced by specific industries. Note that this knowledge allows Hiscox to offer customized coverage to its clients in the dance studio industry. In addition, dance instructors or studio owners can pay their annual premiums in monthly installments at no extra charge.

Hiscox is the ideal choice for individual dance instructors who are eager to protect their personal business interests or who need to show certificates of insurance to studios they contract with. Hiscox’s ability to price sole proprietor policies in a range that is affordable for many budgets has made them the one of the best for independent contractor insurance

4. CoverWallet

CoverWallet is an online insurance broker that shops and places business insurance for companies across the country. Have it in mind that this provider partners with more than two dozen top-tiered insurance carriers to ensure every small business owner can locate the right coverage for the right price.

CoverWallet is the ideal choice for dance studios that offers a varying range of dance classes in the studio and at external locations while also using their studio for art, drama, and exercise programs. Since CoverWallet has access to so many carriers, it has the ability to get a perfectly tailored policy for its clients

5. Sadler Sports & Recreation Insurance

Sadler Sports & Recreation Insurance is a specialty insurance broker that sees to higher-risk types of businesses where injuries are more likely. Note that they offer bundled programs that often include general liability, business property, and special industry-specific inclusions such as medical payments.

Sadler Sports & Recreation Insurance is the perfect choice for studios that do more than just dance lessons and require a policy that won’t exclude programs such as yoga, tumbling, or drama lessons. As a specialty provider, Sadler Sports & Recreation creates policies primarily with the unique needs of any dance, fitness, or sports operation

Conclusion

Dance studio owners need to protect themselves against all possible sources of loss with comprehensive dance studio insurance.

With the right policies, you’ll be protected if employees are hurt, the property is damaged, or if you are sued. It is best to apply for dance insurance coverage before you begin teaching dance or open the doors to your studio. This allows you to be protected from day one.