Insuring your freelance business
Working from home, or wherever you feel like setting up for the day, is great, but it doesn’t mean you’re exempt from the risks faced by other professionals. From a client claiming you provided bad advice, to your computer equipment being damaged, or even finding yourself needing to take time off that’s both unscheduled and unpaid. Hiscox business insurance for freelancers sees to it that nasty surprises are manageable. Ensure your venture is protected by understanding what insurance you need as a freelancer.
Why you need business insurance for freelancers
Personal injury
A broken arm caused by a rush-hour traffic incident results in several days in hospital. As a freelancer, being unable to work means lost income, but the bills and the mortgage still need to be paid. Adding personal accident insurance to your freelance work cover can provides a weekly pay-out to help with expenses and can also help with the costs of support staff or retraining.
Unhappy clients
A client is unhappy after a piece of unapproved work with information about one of their customers is published. It causes contractual issues between the freelance creative and their clients resulting in the loss of valuable future work. They take legal action but with professional indemnity insurance the costs of legal action and settling a claim are covered.
Technical problems
A hi-spec computer monitor falls from a table in the office, damaging it beyond repair and temporarily preventing a freelance web designer from getting any work done. With office contents insurance the cost of a new laptop is covered, allowing work to carry on without impacting clients or endangering income.
If you’re not sure what you need, tell us a little more about your freelance business. We’ll help you to build your quote and explore any other insurance needs.
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Key types of insurance for freelance workers
Public liability insurance
Public liability insurance is there to help protect you and your business if a member of the public claims they were injured or their property was damaged as a result of the work you’ve carried out or the products you’ve used. Public liability cover as part of your freelancer insurance will pay compensation on your behalf as well as the legal costs of defending yourself against a claim. Both public liability and product liability insurance will help you with the costs of compensation and the legal expenses of the claims process.
Personal accident insurance
What would you do if you couldn’t work as a result of an injury? It might mean lost earnings, but it may also lead to missed deadlines and it could jeopardise future work. Personal accident insurance for freelancers protects you when the unexpected happens, so whether you need to stay in hospital or you just can’t work at your normal pace, it provides a weekly pay-out and can also cover the cost of bringing in support staff.
Portable equipment insurance
While your most important assets as a freelance professional are your particular skills and experience, you also rely on the tangible tools of your trade from day to day – your laptop, your smartphone and your other important devices. But what if they’re damaged or stolen? Whether they’re owned or hired they can be covered for replacement or repair with portable equipment insurance cover as part of your business insurance for freelancers policy.
These are just some of the types of business insurance for freelancers that we can offer. We can provide other specific types of cover and build them into a policy that’s tailored to the exact needs of your business.
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