If you run a home tutoring business, it is extremely important for you to have business insurance. Business insurance protects your business against unexpected risks and provides a solid basis for you to grow your business. Here are some of the insurances you should contemplate.

Public liability

If you are tutoring in your student's home, then their homeowner's public liability doesn't cover you while you are in the course of your business. This means that if there is someone injured in the course of work (such as a student or parent slipping on paper or a bag), this liability for this incidents needs to be covered by your business. Equally if you plug in any electrical equipment such as a computer or AV equipment that has not been recently tested by an electrician and this causes damage to the household electrics, you are also responsible for this damage.

Having public liability insurance is also a requirement of tutoring in many boarding schools and community centres. Having this insurance broadens the venues that you can tutor, strengthening your business model.

Workers compensation

While tutoring may seem like a low risk career for worker's injuries, for home tutors who drive to each appointment there is a significant risk around car accidents while travelling between appointments. There are also continued risks around slips and falls, which can happen in any environment but are more common if you are visiting homes where you are not as familiar with the environment. This means that you can both receive payments and get recompensed for medical expenses if you are temporarily incapacitated on the job.

Professional indemnity

When parents hire tutors for their children they are expecting a significant improvement in their child's academic results. Unfortunately, tutors can only do so much as the results also depend on the child's natural abilities and how much work they are putting in outside of the tutoring sessions. Professional indemnity insurance can protect you against claims from parents that you have not provided adequate services if their child does not get the results that the parents have been hoping for.

Having adequate business insurance for your home tutoring business is very important to help you manage the risks built into this business model. If you are interested in working out the best insurance for your home tutoring business but are not sure where to start, then contact a business insurance broker for advice specific to your situation. 

For more information about business insurance, contact a company like National Corporate Broking Pty Ltd.