Just wondering... Your yearly insurance cost

kitkatninja

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Hi All,

Just wondering, how much do you pay for your instructor insurance (including public liability)?

This years insurance cost just under £90, which to some isn't that expensive (but we're a non-profit club), but if you consider that it's gone up by £20 and we haven't made a claim...
 

pdg

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I have no frame of reference, but that's a surprisingly small amount imo. That amount of increase isn't out of the ordinary if my business insurance is any indication...

If you don't mind me asking, what sort of level of cover is that for and what company?

I'm actually considering starting something up (not MA, but physical activity) and don't know what companies to start with.

(Private message reply is perfectly acceptable if you want to answer, but not publicly.)
 

gpseymour

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Hi All,

Just wondering, how much do you pay for your instructor insurance (including public liability)?

This years insurance cost just under £90, which to some isn't that expensive (but we're a non-profit club), but if you consider that it's gone up by £20 and we haven't made a claim...
Very different in the US, I think. The lowest price I found for a small program is about $500 for the year, which covers up to something like 25 active students and small seminars.
 
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kitkatninja

kitkatninja

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If you don't mind me asking, what sort of level of cover is that for...?

That's for instructors insurance only with a public & product liability cover of £5m. That is based on my martial arts qualifications (my Dan ranks as well as having instructors qualifications), the art taught and the use of weapons for demonstration purposes; weapons include Bo, Bokken, Dagger, Escrima Sticks and Jo.

A hundred bucks a year.

What does that cover?

Very different in the US, I think. The lowest price I found for a small program is about $500 for the year, which covers up to something like 25 active students and small seminars.

Ok, so your instructor and club insurance is under one policy? Our club insurance covers our members and that is taken out separately.

Nothing at all. We're covered by the YMCA. :)

Lucky you :)
 
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kitkatninja

kitkatninja

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...(Private message reply is perfectly acceptable if you want to answer, but not publicly.)

Hi Mate, was going to PM you with the rest of my answer, but for the life of me, I can't find the PM button...
 

gpseymour

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Ok, so your instructor and club insurance is under one policy? Our club insurance covers our members and that is taken out separately.
I've never had insurance for a single instructor (like when I taught at my instructor's school as a volunteer, or when I taught my program under the auspices of the YMCA). The only insurance I've ever seen was for the program (club/school).
 

gpseymour

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Oh yeah. Especially when you consider the salary I get for teaching. It is, coincidentally, exactly as much as I get paid here!
That was the deal I originally had with the YMCA I started at. Unfortunately, they don't really like handling the registration, so they tossed the program back to me to own.
 

Dirty Dog

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That was the deal I originally had with the YMCA I started at. Unfortunately, they don't really like handling the registration, so they tossed the program back to me to own.

They've been doing it for like 25 years at this YMCA. I figure we're volunteering our time to teach. If they want to charge for it, they can deal with the paperwork. If they decide to stop dealing with the paperwork, the program will be free. :)
 

gpseymour

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They've been doing it for like 25 years at this YMCA. I figure we're volunteering our time to teach. If they want to charge for it, they can deal with the paperwork. If they decide to stop dealing with the paperwork, the program will be free. :)
At this one, if they don't do the registration (paid or free) for limited-space classes, then they stop advertising it as their program and start charging for the room. I'd have kept teaching there pretty much forever if they'd let me keep the space for free.
 

pdg

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Oh yeah. Especially when you consider the salary I get for teaching. It is, coincidentally, exactly as much as I get paid here!

So that's how you manage to afford both yachts and all those sports cars...
 

Dirty Dog

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So that's how you manage to afford both yachts and all those sports cars...

Both yachts? BOTH???
Silly boy. I have one in six of the seven seas!
OH, wait. I'm awake now. Never mind.
 

geezer

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Very different in the US, I think. The lowest price I found for a small program is about $500 for the year, which covers up to something like 25 active students and small seminars.

Yeah, that sounds like the policy I've got, suitable for a small club.
 

dvcochran

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I have used Next Insurance for over 20 years. Have had two claim and zero payment problems.
Policyholder: State National Insurance Company
Cost: 350/yr
Each Occurrence Limit: $1,000,000
Damages to Premises Rented: $100,000
Medical Expense Limit: $10,000 per person up 5 per year - person unspecified
Person & Advertising Injury Limit: $1,000,000
General Aggregate Limit: $2,000,000
Products/Completed Operations Aggregate Limit: $2,000,000

@kitkatninja, how do your coverage limits compare? If I converted right you are at about $117 USD (is this per year?) which is very low by comparison. I shop all my insurance coverages every two and have never found a carrier cheaper than Next. They have lower coverage limits but $2,000,000 is the common coverage requirements for a lot of my work outside the dojang so I just keep it at that level.
 

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