I got a quote for Public Liability Insurance ($10M) and Professional Indemnity ($5M) insurance for a school up to 25 students, includes student to student cover and off premises events and seminar cover etc. The insurance is AUD$495 plus membership of the Martial Arts Industry something or other (I get a certificate and a badge and lots of other stuff) at AUD$175. So for AUD$670 or US$600 I have very good insurance cover. I have priced PL/PI cover for a seminar presenter of non-physical material and the cheapest so far has been US$850. It limits what I might wish to do and costs US$250 more.
So my question is this: How much does it cost to insure your school or business in the USA and elsewhere?
I had similar cover for years when teaching full-contact and full time, mostly in a back alley. We never had a claim yet non-contact Karate schools were claiming monthly. I have also taught for years without coverage but I think the luck might run out one day and to hire venues nowadays you need the insurance for OH&S reasons. Comments?
Redcap
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Topic: Insurance (Read 277 times)