The Garage-Based Martial Arts Teacher's Guide To Extra Liability And Home Insurance Considerations
Homeowner's insurance may very well be the one and only thing capable of saving a property owner's financial well-being in the event someone is seriously injured on the premises. The possible scenarios in which a person may be injured certainly vary and it would be a mistake to assume all situations are automatically covered under a policy. A homeowner who loves the martial arts and chooses to teach and train friends in his/her garage for fun should avoid making assumptions about liability coverage. Just because the activity is not part of an official, for-profit home based business does not mean a homeowner's policy automatically provides full insurance coverage.
Measures Worth Considering
There are actions that may keep a martial arts enthusiast from being hit with the full financial brunt of liabilities. No one knows what the end result of a claim filing will be, but there are proactive, preventive steps that can work in the favor of the homeowner.
Do Not Accept Any Money
To avoid any problems with being deemed a business, never accept any money for any instruction or training performed with friends. Once money, or anything else is accepted, for training and instruction, commerce is being engaged in. This could nullify homeowners insurance coverage for any harm or injury that occurs on the premises. If the classes are being performed on a "for fun and hobby" basis, then the events must never be connected with the acceptance of funds.
Discuss Things with the Insurance Company
The insurance company may fully cover liabilities for hobbies taken part on the property, but there may be exclusions. If the sessions occur regularly with more than a set number of guests, then the policy might not offer coverage. Three people may be the cutoff for a basic policy. Paying extra on the premiums might be required to include others. The insurance company is always going to be very forthcoming about what is and what is not covered. Double-checking avoids making any improper and - possibly - financially devastating assumptions.
Purchase Additional Liability Coverage
Insurance providers who cater to martial artists do exist. Mainly, they deal with people who are running for-profit endeavors, but no one said a liability policy for hobby sessions cannot be purchased. For a nominal fee, extra insurance can be acquired and protections put in place. The homeowner's insurance provider probably even offers such a policy.
Avoid the Friend Trap
Not everyone may think it is necessary to procure extra insurance since all those taking part in the sessions are good friends. Assumptions such as that could be very costly. A friend is who breaks a leg during a training session may decide to rescind any promises about not suing anyone. Have the right homeowner's insurance policy, such as Reinhardt's Insurance Agency, definitely becomes more than helpful in this situation.