Frequently Asked Questions

Our FAQ’s are here to answer some of the most common questions we hear about Health and Wellness Insurance. If you have a different concern, you can always chat online or contact us by phone or email. We are here to help.

We strive to know your industry and keep your Professional Liability insurance as inexpensive as possible.  For example, a Professional Liability Policy for a yoga teacher starts at $175 per year.  For an RMT, it starts at $125 per year.  Plus, we now offer monthly policies. The policy includes both professional liability insurance and general liability insurance.

Absolutely. You can provide services anywhere in Canada. Our policy automatically includes Commercial General Liability to protect you for claims your homeowner’s policy will not look after.

We specialize in professional liability insurance (both basic and advanced) for the Health and Wellness industry, and our insurance companies do as well. Our clients often tell us that when they call their broker that does their home or renters insurance, they receive a high premium quote for a professional insurance policy. Our Health and Wellness Insurance is generally under $500 but starts typically much lower. Why such a difference? When you sell thousands of plans a year, with insurance companies that understand what they are insuring, you can do it for less and insurance; your business has an advantage!

YES! Our professional insurance policy has no limitation as to where you work or from how many studios you offer classes or treatments. We have found a lot of Health and Wellness professionals work at more than one location.

Certificates of insurance are free! Just send us the name and address of the clinic, and we can send you one right away.  Or Click here to go to our Manage My Policy link.  The Certificate will show proof of insurance (PLI).

Yes! As a small business owner, you will have additional exposures you will need to insure.  Contents, equipment, stock, crime and liability insurance are essential to cover your space, to name a few. You may also want to add coverage to protect your staff or subcontractors working for you.  Policy’s start at $79 a month.  We will work with you to meet your specialized needs.  Talk to your healthy broker today. You can check our our Medi-spa Insurance website as well.

Yes (unfortunately). In Ontario, we must add 8% tax to each policy. Every province is different.

“A business or person that carries out work for a company.” Most health and wellness professionals that work at a Clinic, Studio or Spa are subcontractors. A subcontractor will have a contract with the business owner to provide specific services at an agreed rate (or percentage). A subcontractor will be responsible for paying their taxes, CPP, etc.  A sub-contractor also must carry their own professional and general liability insurance.

We are one of only a few brokers in Canada to offer instant certificates. You can apply online today for an instant certificate that will be effective the day after you apply. If you have any questions, feel free to give us a call at 226-641-0777 or look for our online chat icon.We are one of only a few brokers in Canada to offer instant certificates. You can apply online today for an instant certificate that will be effective the day after you apply. If you know of an Esthenitician, Hairstylist or Barber, we can help them out too and issue a policy within a day or two. Check us out at www.beauty-insurance.com. If you have any questions, feel free to give us a call at 226-641-0777 or look for our online chat icon.

 

YES! We know you may provide more than one type of service.  Add advanced services to your Health and Wellness policy for an additional fee, usually small.  Talk to your Healthy Broker Insurance Expert.

If your policy only lists the main Health and Wellness services you provide, you can add additional services by calling us at 1-226-641-0777 or email chriss@ivesinsurance.com.  Not sure what your policy covers.  Always check with your Insurance Expert.

No. Virtually all homeowners’ policies exclude “business pursuits on-premises.” It is not uncommon for some carriers to cancel your homeowner (tenants or condo) policy if they find out you have a health and wellness business in your home and don’t have coverage. You should always advise your insurance company that you have a business in your home. If you have any problems, call us, and we can help!

CGL stands for Commercial General Liability. It is the most common form of liability coverage. It protects you and your business from claims such as “slip and fall” and property damage you cause to a third party, for example, leaving a tap running and flooding out your neighbour’s unit. Over 90% of all Health and Wellness claims we receive are for CGL claims.

Yes. We are currently working on an online credit card option.  Until the online payment option is fully functional, you can contact us by phone to give us the credit card information. Contact us directly for all our payment options.

Yes and No?!? Your policy is like your car insurance policy that you may pay monthly. There is an industry-standard that must be followed by insurance brokers. Your yoga insurance policy is an annual policy with monthly payments.  If you cancel, you must pay the prorated portion of your premium for all fees and taxes. So the answer is yes,  you can cancel a monthly policy. However, there will be penalties for cancelling before paying for one full year. Talk to your healthy broker today if you still have questions.

You can cancel midterm, but there is a 25 to 50% minimum retained premium (depending on the policy). After that premium is determined, you will get a refund of the remaining amount.

We are currently working on an online credit card option.  Should your credit card be declined, we will keep trying three additional times over ten days without cancelling your policy.  After that point, we will contact you with the information you provided on file. Until the online payment option is fully functional, you can contact us by phone to give us the credit card information.

Have more specific questions about a type of business?