Martial Arts: Industry-specific Insurance

 

From Karate to Kung Fu, Taekwondo, Kickboxing, Judo and many other disciplines the martial arts industry is filled with unpredictability.

From accidents requiring medical attention to property theft and unfortunate travel disasters, we take a look at some of the reasons why industry-specific insurance is so important in the martial arts arena:

Why you need industry-specific insurance

Choosing a ‘one size fits all’ insurance policy for your martial arts business is a risky decision because every business has unique needs, clients, and risks that other businesses may not have. To avoid critical gaps in your insurance cover, it’s a smart idea to choose a policy that is tailored to your industry. A good insurance broker can help you build a policy that is customised to match your specific business needs and meet your martial arts requirements.

The benefits of using a broker to build your martial-arts-specific insurance cover include:

  • Having a broker that knows the martial arts industry ‘inside and out’
  • Working with a broker that will ensure the policy wording has the right clauses and inclusions to cover all of your martial arts insurance exposures
  • Access to flexible and extensive policies all under one roof
  • Competitive pricing and friendly support (especially if you ever need to make a claim)
  • A broker that can help you with martial arts risk management strategies

Different types of martial arts insurance

Martial arts businesses are complex. From your training operators to your chief instructors, administration staff, sales team, students, members, and injury recovery specialists, there are many people who are impacted by the events that can occur at your place of business. In fact, they can happen anywhere you might hold training classes, and even at tournaments and competitions. Your insurance cover may also be impacted by whether you teach at your home, hire a space at your local community centre, or lease / own your facility.

Some of the most common types of insurance for martial arts school owners include:

  • Public Liability
  • Professional Indemnity
  • Personal Accident / Player Accident
  • Income Protection (for you and your staff)
  • Property Protection
  • Business Interruption
  • Travel Insurance (for tournaments, training camps, etc.)

Questions to ask your insurance broker

Before you buy martial arts insurance there are many questions that you should ask your insurance broker. These include:

  • Does my cover include short-term courses, seminars, demos, workshops, weekend camps, and tournaments?
  • Are all styles of martial arts covered and what if I add a new one at my club? Are there restrictions on how many styles I can teach at my school?
  • Are there restrictions about who can actually instruct my students and what sort of qualifications need to be held in order to be covered by certain policies?

For more advice on finding the right martial arts insurance policy for your business, call Allsafe on 1300 908 404, or send us an online enquiry today to find out how we can help you.


General Advice Disclaimer
The information in this article is to be regarded as general advice. Your personal objectives, needs and financial circumstances were not taken into account when preparing this content. We recommend that you consider the suitability of this general advice, in respect of your objectives, financial situation and needs before acting on it. You should obtain and consider the relevant product disclosure statement and Financial Services Guide from Allsafe Insurance Brokers before making any decision to purchase a financial product.

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