Dance studio insurance
At The Shepherd Group, we do a lot of work with dance studio owners and dance teachers.
Over time, we have become well acquainted with the needs of this group. In the coming weeks, we will examine the dance community’s various insurance needs. Today, we’ll look at their health coverage.
Teachers face a high risk of injury. This makes some insurance companies reluctant to insure them. It’s harder for dance teachers to be approved for health insurance as a result.
Making the situation worse is that teachers are often under the impression that they have no options for health coverage. Many teachers are independent contractors and think they don’t qualify because they are not part of a group or association.
And yet, there’s always a solution: dancers and teachers can get individual health benefits and individual disability insurance, or DI. Disability coverage helps replace a dance teacher’s income while he or she recovers.
DI is especially important for studio owners who also teach. Most owners are also teachers and operators in their studios.
There are a few larger studios where the owners don’t teach anymore. So if they became ill or injured, the studio would continue operations.
But the smaller outfits would benefit greatly from DI.
There is also the option to create a DI policy that is oriented toward keeping a business afloat while the owner restores their health. Such a policy would cover all business expenses for 1-2 years.
One advantage about DI is that it provides coverage for continuous health challenges and expenses. While life insurance involves a one time event and a single payout, disability covers the ongoing expenses that accompany injuries.
DI can also cover a prolonged absence from work due to injury or illness.
If you own a dance studio, or you are a dancer or teacher yourself, contact us today to protect your health.