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Opening an In-Home Studio
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Thanks Charley! So if I provide lesson or parties at their home or location, my personal assets are safe?
I feel the need to share this information with the ladies that are still teaching at the studio. We were all independent contractors, but she told us we were covered under her insurance!
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She may have been misinformed. It’s a misconception that contractors are covered. I was told that for many years too working at studios. Nobody was trying to,spread bad info just they don’t know all the ins and outs of contractors vs employees. Usually pole instructors are technically employees according the IRS list of 16 questions. So,if the insurance company said employees are covered I’m betting that the owner assumed you were not thinking through the contractor vs employee and j defeat ding any difference,
Do share though. It’s really important information to have. If taxes are not taken out of your check then you need insurance is the basic rule.
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And yes as far as I understand, but please ask, your home is safe so long as you are a legal business entity Llc or inc. for home owners if your mailman slips and falls on ice in your driveway, your liable, so any injury incurring on your property could be against your homeowners or renters and of course personal assets. I work like personal trainers who offer in home private care as opposed to having them at my house. And yep, parties are covered under basic instructor insurance last I heard. Now, keep in mind insurance changes all the time so do write down and ask all of these questions, to be sure you are getting the right product.
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As far as home studios, some insurance for studios will not cover home operations. Be sure to ask your agent prior to purchasing your policy.
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I want to add, some cities, like mine, only allow at home businesses to cater to one client at a time. So no multi person classes.
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