As a Canadian teacher, you will agree that your duties are well worth it. You can make a lot of money while helping Canadians improve their knowledge, careers, and future prospects. Still, you need to protect your tutor business by acquiring appropriate insurance. Teacher insurance in Canada is costly but well worth it in the long run.
What Is Teacher/Tutor Insurance?
Teacher insurance is professional liability insurance aimed at protecting your business from professional liability negligence allegations. As a teacher, you risk making a mistake every day of your life. You may protect your pupil with inaccurate information. Or, you may send their scores to the wrong address and that might be embarrassing. If you expect a lawsuit, you better hope you have professional liability insurance.
What Teacher Insurance Does For You
Having teacher insurance is an effective way to protect your Canadian business. By adding professional liability insurance to your policy, you’ll be able to prepare for upcoming professional liability lawsuits. This insurance will help you cover the costs of lawsuits and attorneys. Your insurance provider will help you pay your attorney’s fees so you can defend yourself in the courtroom. You’ll also be able to use this insurance to cover the court reporter fees, filing fees, and administrative expenses. If a settlement or judgment is ordered, your teacher insurance can help you pay that too.
You biggest asset in life is your earning ability. If you are unable to work, you will need to rely on either your savings or borrow money to sustain your lifestyle. When these unfortunate circumstances occur, dependents and spouses are also impacted financially and emotionally.
Disability insurance coverage will provide you a monthly income benefit, usually totaling 70% to 80% of your income, when you are unable to work for a period of time due to injury or illness.
Types of disability insurance
- Long-Term Disability Insurance (LTD)
- Short-Term Disability Insurance
- Key Person Disability Insurance
- Self Employed Disability Insurance
- Mortgage Disability Insurance
- Temporary Disability Insurance
- Supplemental Disability Insurance
Need coverage in effect? Compare the market!
FAQ before purchasing liability insurance
- How much professional liability insurance do I need?
- How do I get a liability insurance policy?
- What does professional liability insurance cover?
- What is the difference between claims made & occurrence form of coverage?
- When will I need to be insured?
- What other professions need this type of insurance?
Other useful posts you should also read
- Canadian insurance companies that provide professional liability insurance
- How does the claims process work if I get sued because of my professional services?
- What is the cost of professional liability insurance?
- How do I apply for a professional liability insurance policy?
- How do I qualify for coverage as a professional service provider?
- What is the purpose of getting insured as a professional?
- How long will it take to get an insurance quote for my business?