Content coverage is an additional provision, which can be added to a Martial Arts Insurance policy (for an additional cost). Depending on several factors, it may be necessary or optional for martial arts school owners.
The most important factor is your landlord’s lease requirements. Some landlords state in their lease agreements that your insurance policy must provide coverage for property contained in your business, in addition to plate glass replacement coverage. Other leases are silent relating to any specific types of additional coverage. The best source for insurance policies with content coverage is Martial Arts Liability Insurance.
Typically, content coverage for martial arts insurance covers theft of business equipment/supplies, such as: computers, products (uniforms, weapons, and sundries), mats, mirrors, office equipment, etc. Some policies also have coverage for plate glass window(s). If you have a basic school (with just mats and mirrors) and there are no lease requirements to carry this type of coverage, you may not need content coverage. If your school has computer equipment or products, it would be within your best interests to protect your business with content coverage.
Be careful when determining the exclusions for content coverage, in your insurance policy.
Content coverage provisions rarely cover water damage other than the kind caused by interior water line breaks. Insurance coverage also rarely includes fire damage, occurring at a location, outside of your school’s walls. This means that if a business, adjacent to yours, in a strip mall or similar location, catches fire, you may have little or no coverage for any damages sustained by your business. Landlords typically have policies for their entire complex, with coverage for those types of occurrences.
Martial arts school owners must make the following assessments, regarding content coverage:
- Is content coverage necessary to satisfy lease agreement requirements?
- Do you have enough valuables, in your business to justify the additional protection and associated cost?
- Are you able to afford the additional premium amount, assessment, or combination of all three?
Once you read the policy provisions and costs associated with this additional insurance coverage, you will be able to make an informed decision as to whether or not to purchase this insurance. It’s very helpful; particularly if you already know that you would be unable to sustain any type of financial loss due to breakage or theft. If this is your circumstance, we strongly suggest that you purchase Content Coverage, which will become an integral part of your overall liability policy. The best source for content and plate glass coverage is Martial Arts Insurance.
