Dance studios face their own unique set of risks, just as any other type of business does. From accidents and injuries to property damage and lawsuits, dance studios must be protected by the right coverage. That's why having enough dance studio insurance is critical.
Luckily, an independent insurance agent can help you get set up with the right insurance for dance studios. They'll get you matched to the ideal amount of dance school insurance coverage for your unique business. But first, here's a closer look at what dance studio insurance covers and why it's necessary.
Key Takeaways - Dance Studio Insurance
- Dance studios need insurance to protect against losses due to client injuries, commercial property damage, and other possible disasters.
- It's important for dance studios to have professional liability insurance in case an instructor causes injury or other harm to their clients due to negligence.
- The cost of dance studio general liability insurance is about $55 per month or $654 annually, but the cost of your full policy will vary depending on your coverage needs and other factors.
- Dance studios that travel for competitions or performances may need additional coverage.
- It's strongly recommended to work with an independent insurance agent, as they can tailor coverage to your unique dance studio.
What Is Dance Studio Insurance?
Dance insurance is simply business insurance with additional liability insurance to help cover the unique risks you may face as a dance studio owner. This includes physical injury, property, and equipment protection. This coverage is needed by all of the following businesses and professionals:
- Dance studio owners
- Independent instructors
- Dance schools
You might also hear this coverage referred to as dance instructor insurance, dance academy insurance, dance class insurance, or insurance for dance schools. Regardless of what your insurance policy is called, it must include protection for your commercial property, employees, and customers. An independent insurance agent can help you build a complete dance studio insurance policy.
Why Do Dance Studios Need Insurance?
Dance studios need insurance to protect them against various disasters that can lead to losses, such as accidents and property damage. Additionally, if you rent the space for your dance studio, your landlord may require you to have insurance. Further, most clients prefer working with businesses that are properly insured.
Here are just a few common risks that dance studios need to be insured against:
- Student injuries during classes or performances
- Property damage (such as to mirrors, sound equipment, or flooring)
- Liability from customer parents or guardians
- Employee injuries
When it comes to dancing, clients are at risk of injury. And whether you’re instructing the class or own the space, you’re liable if someone is injured while under your supervision and instruction.
Having the proper liability insurance for dance studios will protect not only any equipment you’re using but also you in case a client sues you. An independent insurance agent can help you get equipped with all the right small business insurance for dance studios.
What Does Dance Studio Insurance Cover?
Dance studio insurance is tailored to the particular risks of your business and can cover many aspects, such as your property, equipment, employees, and liability.
Here is what a dance studio insurance policy may include:
- Business property insurance: This covers expenses if your buildings, commercial property, and equipment are damaged by fire, theft, natural disasters, and other listed perils.
- General liability insurance: This covers third-party claims of bodily injury or personal property damage caused by your business.
- Professional liability insurance: This covers third-party claims of harm caused by professional errors and omissions, such as a command given by a dance instructor that led to a client injury.
- Workers' compensation insurance: This covers incidents of work-related employee injuries, illnesses, and fatalities.
- Business interruption insurance: This covers ongoing operating expenses during temporary business closures due to covered causes, such as fire damage.
- Equipment insurance: This covers your specialized dance and sound equipment.
There are also a number of stand-alone policies available. Coverage options can include protection for vehicles and equipment if your studio travels for competitions. If you’re teaching swing dancing, you may opt for more protection against injuries and professional liability than in a ballet studio.
What's Not Covered by Dance Studio Insurance?
Dance studio insurance comes with its own set of exclusions that are also important to be aware of, such as those related to certain types of natural disaster damage. Here are some common scenarios that may not be covered under dance studio insurance:
- Offering special services and classes like yoga, Pilates, and silks (these may require an add-on policy)
- Selling products or clothing
- Property damage caused by flooding or earthquakes
Your independent insurance agent can help you complete your dance studio insurance policy with any additional types of coverage you need.
How Much Does Dance Studio Insurance Cost?
The cost of general liability insurance for a dance studio is about $55 per month, or $654 annually. However, the cost of your full policy can vary depending on many different factors, such as:
- The number of years you’ve been teaching dance
- Past insurance claims
- The number of employees you have
- The type of equipment you use in your studio
- Any additional services you offer
- The size and annual revenue of your studio
- How many students you have
- Location
- The types of classes offered (e.g., ballet, hip hop, aerial, etc.)
Here are some average costs for insurance needed by dance studios:
- General liability insurance: $55 per month
- Professional liability insurance: $42 per month
- Workers' compensation insurance: $42 per month
An independent insurance agent can help you find affordable dance studio insurance near you.
How to Choose the Right Dance Studio Insurance
When choosing your dance studio insurance coverage, it's important to first evaluate the risks specific to your studio. Next, you'll want to compare insurance providers to find the best insurance for dance studios.
An independent insurance agent can help do this for you, as they have access to several insurance companies for dance studios. They can also help you find bundled coverage to save as much money on your premiums as possible.
Additional Coverage Considerations for Dance Studios
Your dance studio insurance policy may not cover all of your business's risks, depending on all the services you offer. If any of your instructors travel off-site for performances, you might need special off-site dance insurance coverage to protect against incidents that may occur. It's also crucial to protect your business by requiring customers to sign waivers and implementing risk management practices to avoid disasters in the first place.
Having certificates of insurance can be greatly beneficial for your business as well. You might need these certificates before hosting performances or when using a rented space. An independent insurance agent can help you find a certificate of insurance (COI) for your dance studio business.
The Benefits of an Independent Insurance Agent
Dance studio insurance is critical for protecting your business, its staff, and its customers. Thankfully, a local independent insurance agent is ready to help you find all the coverage your business needs. They can shop and compare policies from the best dance studio insurance companies to find a great deal. And down the road, your agent can help you update your coverage when necessary.
FAQs About Dance Studio Insurance
What type of insurance do dance studios need most?
Dance studios need general liability insurance and professional liability insurance to protect them against the cost of lawsuits and claims from third parties, including clients, for injuries and personal property damage.
Is general liability insurance enough for a dance studio?
No, general liability insurance typically isn't enough coverage for a dance studio on its own. Dance studios also need professional liability insurance in case of an injury or other harm to a student caused by an instructor.
How much does dance studio insurance cost per year?
The general liability insurance alone for a dance studio costs about $654 annually. The cost of your full policy will depend on the types of coverage you choose and other factors, such as your location.
Do independent dance instructors need their own insurance?
Yes, independent dance instructors need their own insurance to protect against liability claims and other possible disasters.
Does dance studio insurance cover student injuries?
Yes, dance studio insurance can cover student injuries under its professional liability or general liability sections, depending on the exact cause of the injury.
Can I get short-term insurance for dance recitals or events?
Yes, short-term event insurance is available for dance recitals and other performances. An independent insurance agent can help you find the right coverage.
Do I need workers’ comp if I only hire part-time instructors?
Yes, workers' comp is often still required for part-time staff. You'll need to check your state's laws and regulations for workers' comp to be certain.
Will my homeowner’s insurance cover a home-based dance studio?
The answer depends on your specific home insurance policy. You can often add business coverage endorsements to a homeowners policy for home-based businesses. Work with an independent insurance agent to get all the protection you need.
What’s the difference between professional liability and general liability for dance studios?
Professional liability insurance will protect your dance studio from client and other third-party claims of professional errors or negligence that led to harm, while general liability insurance will protect against claims of bodily injury or personal property damage, such as from slip-and-fall accidents on a slick floor.
Sources
https://www.insureon.com/sports-fitness-business-insurance/dance-studios/cost
