A pilates studio is a place for pilates instructors to teach pilates, which is a form of physical fitness through stretching and abdominal exercises. Pilates uses many exercise techniques to improve a person’s flexibility, strength, and coordination starting with the abdomen, known as the core muscles. Pilates instructors often work at pilates studios to teach pilates classes of varied skill levels.
The pilates studio business owner is responsible for the business operations of the studio, and may also be an instructor themselves. A pilates studio is a great place for people to work these important muscles and improve their strength and flexibility, but it also comes with a variety of risks. As the business owner, you should be concerned with possible bodily injury or accidents during workouts, liabilities from the building and equipment, and legal liabilities. Pilates studio insurance is an important part of the business owner’s responsibilities, as it protects you and your business against a variety of risks.
General liability is the most basic type of pilates studio insurance, and typically the first insurance policy a studio owner will choose. General liability insurance protects against various types of liabilities, including those related to the products of the studio, the studio premises, and liabilities that may occur after the members have left the pilates studio.
- Products Liability – Any time your pilates studio sells products, such as clothing items, mats, water bottles, towels, or vitamins, you should protect your business with products liability insurance. If a member gets an illness or has an accident due to a product, such as getting sick after taking vitamins you sold them, you could be responsible for the damages.
- Premises Liability – If you have a member that has an accident on the premises of your studio, perhaps tripping over a machine and spraining an ankle, or having another type of accident in the building or the parking lot of your studio, premises liability will offer coverage.
- Completed Operations – Any type of bodily injury, harm, or illness that a member gets after leaving your studio and claims it is from services or products you provided, can lead to you being charged for the damages. Completed operations as part of the general liability insurance will covers these damages..
Business Owners Policy
A business owner’s policy, also called a BOP, is a comprehensive package policy that combines different coverages into one package. You can personalize the BOP to include coverages for risks you feel that your pilates studio may have, such as coverage for the building and contents, electronic data, employee dishonesty, or valuable paperwork. For example, if you have employee dishonesty coverage and an employee steals from your studio, the damages are covered by the BOP.
If you have at least one employee working at your pilates studio, you should have worker’s compensation insurance. Worker’s comp is required by most US states, and will offer coverage for employees in the case of an occupational illness or injury. For example, if one of your pilates instructors gets injured while performing an exercise during class, their medical expenses will be covered by worker’s comp.
Pilate’s studio insurance provides your hard-earned studio with the protection it needs from a multitude of risks. Since these risk exposures can lead to expensive lawsuits and litigation, you will have more business and financial security with adequate business insurance.