Meditation Teacher Insurance Cost
Is trying to understand meditation teacher insurance costs stealing your zen? Transcend the struggle — and get affordable coverage for your practice with Insurance Canopy.
How Much Does Meditation Teacher Insurance Cost?
Meditation teacher insurance costs as little as $21.08/month or $229/year with Insurance Canopy for a base policy. On average, our customers pay between $20 and $25 per month.
Interested in how our prices compare to competitors? We did the research! See our cost comparison chart for a detailed breakdown.
A meditation teacher policy from Insurance Canopy bundles multiple essential coverages for peace of mind in your practice:
- General Liability
- Professional Liability (aka Errors and Omissions)
- Products-Completed Operations
- Damage to Premises Rented to You
- Personal and Advertising Injury
- Free and Unlimited Additional Insureds
While our base policy includes the coverages every meditation teacher needs, we also offer add-ons to protect what makes your practice unique. Over 83% of meditation teachers customize their policy with one or more of these coverages:
- Cyber Liability (Data Theft Coverage) for $8.25 a month
- Equipment and Materials (Inland Marine Coverage) for $2.17 a month— our most popular add-on coverage!
Note: This data is based on customer payments for both monthly and annual payment plans.
What Payment Plans Are Available?
Keep your options open with flexible monthly or annual payments when you choose Insurance Canopy.
- Monthly payments mean lower prices now. You help students make incremental changes toward wellness. Paying in installments works the same way to keep your insurance payments manageable. There is a recurring $2 fee if you opt for monthly payments.
- Annual payments mean savings over time. You save about 10% per year by choosing annual payments. That’s around $24 you could put towards software subscriptions for your business, streaming equipment, or your favorite mindfulness apps.
How Much Does Each Type of Coverage Cost?
General & Professional Liability: $21.08/Month or $229/Year
This coverage can shield you from paying out of pocket for bodily injury or property damage to students, landlords, and other third parties.
General liability coverage from Insurance Canopy also includes protection for your professional liability, products and completed operations, fire damage to rental properties, and personal and advertising injuries.
Equipment & Materials: $2.17/Month
This optional coverage is designed to pay for damaged or stolen business equipment and supplies. If you experience a home or office break-in, equipment and materials insurance can handle the cost of replacements for essentials like your work computer, phone, or streaming equipment to get you back in business.
Cyber Liability: $8.25/Month
Did you know you’re legally responsible for protecting the personal data of others you collect or store online from cyberattacks? That includes students’ credit card numbers, phone numbers, and other info you need to run your business, keep records, process payments, and so on.
Small businesses account for 43% of cyber attacks every year, and the percentage keeps growing. Cyber liability insurance is a safety net to keep you from paying out of pocket to settle data breach lawsuits or recover stolen information.
Additional Insureds: FREE
A landlord or business that contracts with you may request to be added to your policy as an additional insured. This extends your policy to cover them if they are named in a lawsuit against you. Insurance Canopy lets you add unlimited additional insureds at no extra cost.
What Factors Affect the Cost of Meditation Teacher Insurance?
Gross Annual Income
Higher-income businesses need higher limits to make sure they’re covered, which can raise your insurance costs.
Optional Coverages
Customizing your policy with protection for your data or equipment adds to your total payment.
Claims History
Past insurance claims can translate into higher insurance costs.
Here’s a breakdown of how your gross annual income affects your insurance costs:
Meditation Teacher Insurance Cost by Income
| Gross Annual Income | General Liability Premium | ||
|---|---|---|---|
|
Individual Meditation Teacher |
|||
|
$0 – $50,000 |
$27.71
|
||
|
$50,001 – $100,000
|
$32.71
|
||
|
$100,001 – $150,000
|
$37.71
|
||
|
Meditation Teaching Small Business Owner |
|||
|
$0 – $50,000
|
$33.96
|
||
|
$50,001 – $100,000
|
$40.21
|
||
|
$100,001 – $150,000
|
$46.46
|
||
Can I Reduce the Cost of My Insurance?
Choosing an annual payment plan reduces the cost of meditation teacher insurance compared to making monthly payments. Another way to minimize insurance costs is to know your risks and practice good risk management with strategies like these:
- Protect online data against cyberattacks with secure data storage and strong passwords.
- Document communication like emails, calls, and sessions with your students.
- Use a written contract to set clear expectations for services, payment terms, cancellations, and potential risks.
- Maintain a safe meditation environment free of hazards that could cause trips and falls.
- Collect and review student feedback regularly, and address concerns before they become legal issues.
Why Insurance Canopy for Life Coach Insurance?
Insurance Canopy balances comprehensive coverage for meditation teachers with some of the most affordable prices on the market. Download our price comparison chart to see how our coverages and costs compare to other insurance companies.
- Affordable Monthly Payment Options
- Instance Certificate of Insurance (COI)
- 24/7 Policy Management Online
- Covered Anywhere You Teach
- U.S.-Based, Licensed Agents Ready to Help
Meditation Teacher Liability Insurance Coverage
Insurance coverage types and policy limits:
The most your policy will pay for bodily injury and property damage claims occurring in the policies term that you become legally obligated to pay due to your business services.
$2,000,000
The maximum amount your policy will pay in a 12-month period for bodily injury and property damage claims that result from the products you use to perform your services. However, it does not cover your products that are sold or distributed.
$1,000,000
The amount that your policy will pay for claims arising out of one or more of the following offenses:
– False Arrest, detention or imprisonment
– Malicious prosecution
– Wrongful Eviction or Wrongful Entry
– Oral or written publications that slander or libels a person or organization
– Oral or written publication or material that violates a person’s right of privacy
– The use of another’s advertising idea in your advertisement
Included
The maximum amount paid per incident during the term of the policy.
$1,000,000
Applies to damage by fire to premises rented to the insured and to damage regardless of cause to premises (including contents) occupied by the insured for 7 days or less.
$300,000
Included
Optional Add-Ons
How Do I Get a Quote?
Get your free quote online in less time than it takes to say your favorite mantra (well, almost). Just tell us a little about your meditation teaching business, select the coverages you want, and receive a quote in 10 minutes or less.
Meditation Teacher Insurance Cost FAQs
What Is Covered Under a Typical Meditation Teacher Insurance Policy?
Meditation teacher insurance is tailored to cover harm caused to third parties by your business or advice. You meet clients at turbulent moments seeking stress relief, self-discovery, and renewal. When expectations aren’t met, students might blame your teaching.
Insurance is designed to protect your career and finances in risky situations like these:
- A student claims their meditation session caused unexpected emotional distress that required further treatment.
- A student has an allergic reaction to the incense you burn in your studio.
- A student says you didn’t keep sensitive information they shared during a session private, and sues you for breach of confidentiality.
- A student trips over mats left out from your last session and breaks their ankle, then sues you to cover their medical costs.
What Are the Coverage Limits?
Meditation teacher insurance from Insurance Canopy has a $1 million per occurrence limit and a $2 million yearly aggregate limit for general and professional liability claims. Cultivate peace of mind in your practice with comprehensive insurance for as little as $21.08/month.
JoAnne Hammer | Program Manager
JoAnne Hammer is the Program Manager for Insurance Canopy. She has held the prestigious Certified Insurance Counselor (CIC) designation since July 2004.
JoAnne understands that starting and operating a business takes a tremendous amount of time, dedication, and financial resources. She believes that insurance is the single best way to protect your investment, business, and personal assets.
JoAnne Hammer is the Program Manager for Insurance Canopy. She has held the prestigious Certified Insurance Counselor (CIC) designation since July 2004.
JoAnne understands that starting and operating a business takes a tremendous amount of time, dedication, and financial resources. She believes that insurance is the single best way to protect your investment, business, and personal assets.
