I think insurance is a pretty good racket. If I’d been smarter I would have become an insurance agent when I was younger. I’d be rolling in it by now.
So, yep, I bought insurance as a Yoga Trainer. I have a good ol’ General and Professional Liability Insurance policy. I could afford it, so I bought it. What I bought was peace of mind. I don’t ever expect anyone to contact me to file a claim. The amount insured per occurrence should keep any attorney happy enough s/he won’t need to sue me directly. They can go through my insurance company lawyers. I think that is what I am paying for anyway.
I teach less than six hours per week right now. I expect that will continue for the next year. I expect that in this next year my student base will double. I’m hoping so. That expectation is based on my idea, my hope that I will be getting better as an instructor and more people will want to come see me. Even as my student base grows I will still be teaching less than six hours per week. This makes for a lower premium price on my liability coverage.
The other reason my premium is so low is that I do request a Liability Waiver from my students. I found one online and edited it for my purposes. I may never need these things. But I like having a folder of waivers available. I numbered them so I can go in sometime and see how many people I have guided along the way. It’s a pitiful number right now.
I bought peace of mind. I expect I’ll buy it again for next year.