While teaching music may not, on first consideration, appear to be the sort of enterprise that needs to have small business insurance, there are several factors that contradict this assumption. These include professional liability, possible charges of abuse, general liability for instruction carried out in others' homes and the cost of replacing musical instruments.
Professional liability is essential for any endeavor wherein someone may be injured, but music instructors need to consider it for several other reasons. In cases where students feel that they have not been promoted properly or their instruction has been lacking, music instructors may be held liable and can end up being sued by the students or their families. In this scenario, professional liability insurance can aid with court costs and retaining an attorney.
Music instructors may also face unfounded charges of abuse by students, especially since they are often required to spend time alone with them during instruction. In this case, as well, professional liability insurance can help in dealing with court costs. This is especially important in a business wherein the instructor's reputation may be the business' most valuable asset.
Business insurance will also cover expenses that may arise when the instructor is teaching off-site. If an accident occurs, or some sort of damage is sustained in the area where the instruction is taking place (such as the student's home), general liability insurance can help to cover costs.
One final very important point to take into account is the expense of replacing musical instruments. A violin of simply average quality can cost as much as $1,000, and very few instruments of the level required for professional instruction come with a low price tag. In case of a fire, accident or even deliberate destruction, covering such valuable items can mean the difference between a musical instruction business continuing to be solvent and closing down.
The only false chords music instructors should have to worry about are those caused by lack of practice! For more information on the right small business insurance for your music instruction business, contact us.
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