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DT: What needs to be considered when insuring your dance studio?
Helen Stephens: Policy Coverage, Claims Service & the ability to customise your insurance portfolio to suit your needs are amongst the most important factors for Dance Studio Owners.
Some of the musts you need to have:
– Cover for contract teachers
– Member to member Cover
– Participation Cover
– covers all forms of dance including Aerial.
When considering insurance it is vital to make sure the policy coverage is appropriate for your specific dance school. Not all schools are the same and not all insurance policies are either.
Your Dance Studio is a business and as such, it’s not just the liability side of things you need to consider. Many studios have a significant amount invested in their studio fit outs, costumes, equipment, audio equipment & computing equipment. Ensure that your insurance is adequately covering you for any loss or damage to these items and that you are updating your sums insured each year. Don’t forget about the insurance for things you can’t see too! Cyber Crime is unfortunately alive and well and if you rely on your internal program to keep your studio running, consider the impact if this were to be hacked. Seek clarification on each part of your insurance portfolio and always use a qualified & experienced insurance broker.