What are the Different Types of Insurance and What Do They Cover?

What are the Different Types of Insurance and What Do They Cover?

by Katasure Mar 27, 2017


The insurance industry is a complex industry full of unique, industry-specific terms only understood by those knowledgeable about insurance, making shopping for insurance for their karate club an activity which most may dread.

As with anything you need to do but don’t really want to do, this naturally means that customers want the process of arranging insurance to be as fast as possible. This often results in club owners searching for the cheapest cover, buying that, and then forgetting about it.

However, all insurance packages are not made equal, and choosing purely based on price can lead to some nasty surprises when the time comes that you need to make a claim, only to discover that you’re not covered for that specific issue or have to meet specific criteria you were unaware of.

To avoid this, it is important for you to have a basic understanding of the different aspects of your cover, what they mean, and why they are important to you – this blog will help you with that.

What is public liability insurance?

Public liability insurance protects you if your customers or members of the public suffer personal injury or property damage because of your business, supporting you with all legal fees and compensation requirements. Public liability insurance is absolutely vital for karate clubs where suffering personal injury is unfortunately an ever-present risk for your customers.

What is employer’s liability insurance?

Employers’ liability insurance is a legal requirement for any business with employees, with a fine of £2,500 per day being the punishment for not having employer’s liability insurance whilst having even a single employee. The insurance protects you against the cost of compensation claims arising from employee illness or injury sustained during their work with you, something which again is more likely for your martial arts and karate clubs than other businesses.

What is professional indemnity insurance?

Naturally, you work hard to provide the best service possible for your students and typically succeed with this. Professional indemnity insurance covers you for those rare occasions you do make mistakes or if you’re unfairly accused of providing inadequate service. Professional indemnity insurance will cover any legal costs obtained defending yourself from these accusations plus the cost of any compensation you may be forced to pay to rectify a mistake.

What is personal accident insurance?

Another vital component of a comprehensive insurance policy for martial arts and karate clubs is personal accident insurance, which covers you in the event of you or an employee being unable to work as a result of an accident. As we’re in an industry where there is a high risk of accidents occurring, in addition to the usual risks, personal accident insurance is required to keep you covered.

What is Directors and Officers liability insurance?

Directors and Officers insurance is designed specifically to offer financial protection for directors, partners and officers of businesses. Also known as management liability insurance, it protects your personal income for any claims made against you in regards to the business.

These are just a few of the different types of insurance available to you when taking out your cover. In the future, we will cover other types of insurance and also educate you on commonly-used terms within the industry.

The Katasure Difference

Take out your karate club insurance policy with Katasure to make sure anything that could happen at your karate club is covered.

Read our policy to discover why our karate club insurance is the best on the market and request a quote today.


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Useful Links to Karate Organisations

Wado Aiwakai Karate-Do Federation English Karate Federation World Karate Federation British Karate Federation European Karate Association Wadokai England