Tenants' contents insurance broker (home-based)

Renters, such as students, young professionals and share-house tenants, pay the premiums. You are paid commission by the insurer or your licensee, not directly by the client.

Commission on each policy sold, and usually on renewals, shared with your licensee. Income builds slowly as your book of clients grows, and referral partners such as property managers can speed it up.

• Explaining insurance in plain language
• Sales and follow-up
• Careful record keeping and compliance
• Building relationships with property managers and student housing providers

• You generally need an Australian Financial Services Licence or to be authorised under someone else's. Check with ASIC before giving any advice or selling anything
• Check the current training and qualification requirements for advising on general insurance
• Check rules on disclosing commissions, handling client money and giving advice that suits the client
• Professional indemnity insurance is normally required. Ask your licensee what it covers
• Per-policy commissions are modest, so income can be slow to build
• Protect clients' personal information, and check your obligations under privacy law
• Check whether your council needs approval for a home-based business

Estimates suggest startup costs typically around $1,500 to $6,000, depending on your setup and what your licensee requires. Ask your licensee what professional indemnity insurance covers, and check whether your council needs approval for a home-based business.

You generally need an Australian Financial Services Licence or to be authorised under someone else's, so check with ASIC before giving advice or selling anything. Also check current training and qualification requirements, and rules on disclosing commissions.

Estimates suggest monthly revenue typically around $500 to $3,500, depending on how many policies you arrange. Per-policy commissions are modest, so income can be slow to build. You could start with about 10 hours a week.