Lorelei

Added Insured Certification?

4 posts in this topic

I just was offered a position as an independent contractor to teach a few yoga classes each week at a small studio.  It's a nice place that provides yoga, massage, pilates, and it's also a full service salon.  Good vibes and lovely.

I carry insurance to teach yoga through HPSO.  It's a regular policy for yoga teachers.  The new studio owner wants me to add the studio as an "added insured."  The studio carries its own insurance, but the owner said that at the start of this year, her lawyer recommended the "added Insured" for all of her independent contractors.  So.....this addition will cost me $165 every year.  Um.  I don't know about you, but that's a lot of yoga teaching for a part time person like me in a small studio.  

I really like this studio, and I get the feeling that the owner doesn't really understand why her people need the extra insurance.  Has anyone had an experience like this?  

In addition, the insurance rep thinks that maybe I'm carrying the wrong insurance since I am a "yoga company" of one.  My company's name does not include my given name, so it's a Doing Business As sort of situation.  I know others who work around registering their own company by only taking payment made out to them personally.  I'm more concerned that my insurance is adequate.  Of course, I'm planning to sit down with my lawyer (another expense), but I'm wondering if anyone out there has been through these situations and care share their experience with me.

 

Thanks!

YogaByCandace likes this

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Dang! I have had studios ask me to add them on my policy and I've done it for the workshop and then had them removed, but it sounds like this is a longterm thing. Frustrating. I am wondering if you're covered under the wrong insurance... I use PHLY insurance and it is pretty reasonable...but then again, my situation is different because I don't teach weekly classes. I'm sorry I can't offer better advice. 

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On 11/29/2016 at 11:27 AM, YogaByCandace said:

Dang! I have had studios ask me to add them on my policy and I've done it for the workshop and then had them removed, but it sounds like this is a longterm thing. Frustrating. I am wondering if you're covered under the wrong insurance... I use PHLY insurance and it is pretty reasonable...but then again, my situation is different because I don't teach weekly classes. I'm sorry I can't offer better advice. 

Thanks, Candace.  Actually, the studio owner back off that when I just flat out said that my insurance should be enough and that I wouldn't be able to work at her studio if i had to buy more.  I truly think she is following the advice of someone who doesn't understand the ins and outs in addition to herself not understanding the ins and outs.  Anyway, time will tell if this is a good place for me or not.

YogaByCandace likes this

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Hey there friend! Your instincts seem to be right. I have my instructor insurance through Hays Affinity and it only costs me about $120/yeah with the option to add up to 4 names as additional insured. This covers my teaching in a studio - I know the price goes up if you plan to teach other places - your home, schools, public parks, etc. But still - $165 just to add one additional insured?! That's bananas.

I do run my business under my own name though, so I suppose that could be part of it? But really you're just a sole proprietorship running a DBA. Can't imagine that would shake things up THAT much.

Good luck sorting this out!

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