Frequently Asked Questions About
Commercial General Liability Insurance
How much does small business insurance cost?
Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number. (read more)
What kind of business insurance do I need?
Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.
What is a Certificate of Insurance?
A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it. (read more)
Is business insurance tax deductible?
Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.
Martial Arts Insurance Pennsylvania
Martial Arts Insurance Pennsylvania. Physical injuries are always a possibility in any discipline or sport where there is aggressive contact between players and participants. Oftentimes, martial arts students are just kids, and they are even more prone to become injured than adults, sometimes with such devastating injuries that they have long-term effects for their rest of their lives.
Martial arts instructors and businesses have very concise needs for insurance, due to the inherent perils of the business. Protecting your martial arts business means buying insurance in sufficient amounts of martial arts insurance Pennsylvania to put up a safeguard against potential claims and liabilities as well as general perils, such as fire and theft.
Martial arts insurance Pennsylvania protects your business from lawsuits with rates as low as $57/mo. Get a fast quote and your certificate of insurance now.
The Most Injurious Disciplines
Due to the high number of injuries in martial arts training, it makes a lot of sense for any dojo to look into protection with proper martial arts insurance Pennsylvania. Individual instructors who work in martial arts facilities but do not own them should also make sure they are protected, since they can be named individually in a suit if they are responsible for injury.
Of all martial arts disciplines, some stick out as the worst offenders when it comes to the number of injuries experienced by participants. A British study compared five different martial arts disciplines to determine which of them had the highest rates of participants requiring time off due to injuries. If you operate a martial arts studio that engages in any of these particular disciplines, you definitely need to consider martial arts insurance Pennsylvania to protect your business from liability if the unexpected happens.
The study found that among the various disciplines, these were the most likely to result in injuries and time off due to injuries: tae kwon do (injury rate of 59 percent), Aikido (injury rate of 51 percent), Kung Fu (injury rate of 38 percent), karate (injury rate of 30 percent), and Tai chi (injury rate of 14 percent). Just one injury can be enough for an uninsured studio to find itself shutting the doors and closing up shop due to litigation and financial awards paid to the injured.
As you can see from the study, even with martial arts that involve very little physical contact, such as Tai Chi, there is still a significant number of injuries. According to the study, students also tend to be at a higher rate of injury as their martial arts training progresses.
Martial Arts Insurance Types
If you own a martial arts studio in PA or have plans to expand by opening a new one, protecting your business' interests and your employees and equipment is an essential part of the process. Most studios should look for martial arts insurance Pennsylvania:
General liability insurance. This sort of martial arts insurance Pennsylvania provides coverage for claims that result from accidental injury on the premises. Liability lawsuits can be quite excessive, so you should choose the limits of your policy based on how many people you normally train and the number of staff you employ, among other factors
Worker's compensation insurance. This is a necessary insurance that you must provide if you have any employees working for you. Check with your licensed PA agent to make sure that you are compliant with the laws in your area and that you are fully protected against injuries or illnesses caused by work-related activities.
Umbrella insurance. This is an additional type of liability insurance that protects your studio against claims that exceed the limits of your normal policy. It is usually quite budget-friendly and provides an additional reduction in your risk exposure.
Property insurance. Cover the contents of your dojo and the building in which your business is lodged with property insurance. Check to see that you're covered in the events of severe weather, fire, and other perils. You may need a separate flood insurance policy, since most property insurance policies do not cover flooding.
Coverage for tournament action. If you take your students to another facility or host tournaments at your studio, then check out separate martial arts insurance Pennsylvania coverage for the possible accidents and injuries that may result.
Common Injuries That Occur Among Martial Arts Students
Students undergoing martial arts training can become severely injured, leaving your business liable. Concussions and injuries to the nose, ears, eyes, and head are common. Neck injuries, injuries to the skin, and broken extremities are also possible.
Oftentimes these types of injuries heal up without causing a lasting effect, but others cause lifelong problems and necessitate the martial art student taking therapy and rehab for long periods of time to regain their full functioning. Get martial arts insurance Pennsylvania coverage to protect your business from financial claims and lawsuits is essential to ensuring your business' ongoing health and success.
Pennsylvania Economic Business Outlook & Commercial Insurance Requirements
While you might have a fantastic idea for a business, if you aren't setting up shop in the right PA location, there's a good chance that you won't see the success that you hope to achieve. With that said, it's important that you have an understanding of the economic status of the state that you are thinking about doing business in. It's also important for you to know what type of rules and regulations regarding insurance are in place in that state.
If you are thinking about doing business in the Commonwealth of Pennsylvania, keep on reading to find out some valuable information that you can use to make the best choices for your operation.
Pennsylvania's Economy Now And Into The Future
In terms of the economy, Pennsylvania's future looks pretty bright. It boasts the sixth largest economy in the United States. It is also home to some of the largest private and public organizations in the nation, as per sales.
The job market is expected to see steady growth in Pennsylvania during the 2019 calendar year. That rate is expected to be 1 percent, which is a marked increase from previous years. This is largely due to the high pool of educated laborers that reside in the state. Currently the unemployment rate is 4.9 percent, which is on-par with the rest of the nation. It is believed that the unemployment rate will continue to drop as more jobs are added.
For business owners, there are several industries that will afford success. The food products industry, particularly related to agriculture, contributes largely to the state's economy. This is expected to continue moving forward throughout the 2019 calendar year. Other industries that are forecasted to see growth include:
- Printing & Publishing
If you are thinking about doing business in PA, working in one of these industries will likely afford you success.
Insurance Requirements For Businesses In Pennsylvania
The Pennsylvania Insurance Department regulates insurance in PA. Business owners are legally required to carry workers compensation insurance. This type of coverage is a must for any business that employs any W2 part-time or full-time employees, and for employees that are either hourly or salaried. You must also carry PA commercial auto insurance if you plan on using a vehicle to conduct anything related to your business.
While commercial liability insurance is not required in Pennsylvania, it is still a wise idea to invest in. This type of coverage will protect you from the cost of any lawsuits that could potentially arise.
Additional Resources For Sports & Fitness Insurance
Learn about small business sports & fitness insurance policies and what they cover so that your customers, employees, and equipment are protected.
- Golf Course & Country Club
- Gym Fitness
- Hole-In-One Insurance
- Martial Arts
- Sports Team
- Yoga Teacher
Sorts and recreation includes a wide variety of operations, from individual theater owners to theater chains to corporations that operate properties with recreational facilities spread over many acres. It also includes publicly and privately owned athletic fields, stadiums, golf courses and other athletic facilities.
The risks in this classification are similar in that all involve the admission of large numbers of people combined with significant public access. These shared characteristics mean that all share the potential for catastrophic loss. For this reason, liability coverage with high limits of liability is critical.
Property, workers compensation, crime and inland marine coverages are also important but their necessity varies by type of risk.
This insurance can cover Amusement Parks, Archery Ranges, Athletic Fields, Ballparks, Ballrooms, Billiard Parlors, Bowling Alleys, Carnivals, Country Clubs, Drive-In Theaters, Golf Courses, Outfitters and Guides, Handball and Racquetball Courts, Ice Skating Rinks, Indoor Sports Complexes, Professional Sports, Racetracks-Horse or Dog, Racetracks-Motorized, Recreation Centers, Riding Stables, Roller Skating Rinks, Shooting Ranges, Skatepark, Skeet or Trap Shooting Ranges, Skiing Operations, Stadiums, Swimming Clubs, Tennis Centers, Theaters & Video Arcades.
Sports and fitness facilities have a way of bringing susceptible groups of individuals and situations together that can be potentially dangerous if not properly monitored. The joy and happiness of the moment can quickly change because of a calamity and those calamities can then lead to lawsuits.
Many of these risks have large money exposures every day they operate. Because of this, losses involving cash are the single biggest concern for most recreational facilities. This includes not only holdups and robberies but incidents involving counterfeit currency, computer fraud and forgery as well.
Employee theft is also a major concern in some operations because of attractive types of property or merchandise coupled with high rates of employee turnover.
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Quotes from leading small business insurance carriers including: ACE, AmTrust, Chubb, Cincinnati, CNA, Colony, Employers, Evanston, Fireman's, Foremost, Guard, Hanover, Hiscox, Liberty Mutual, LLoyd's of London, Markel, MSA, Nationwide, Penn America, Philadelphia, Prime, Progressive, Scottsdale, The Hartford, Travelers, USLI, Utica First, Western World, Zurich & others.