Freelance insurance

Business insurance for freelancers

No more clocking in and out. Freelancing means you can choose who you work for and when you do it. There’s a down side though. With no employer to support you, if something goes wrong, you’re on your own.

It could be an unhappy client claiming you made a mistake and slapping you with a lawsuit. A customer demanding you pay their medical bills after a slip and fall on your premises. Or cyber thieves stealing your customers’ data.

Any one of these scenarios could turn your freelance dream into an expensive nightmare.

Safeguard your work, your reputation and your livelihood with freelance business insurance. If you find yourself facing a legal claim, it gives you the resources to defend yourself, pays medical bills and damages too.

Go for that next gig with confidence. Freelancers’ insurance has your back.

• Who needs freelance insurance?

  Do clients pay you for your advice or services?

  If the answer’s yes, then you’re a professional. And as a professional, you can be sued for negligence. Even if there are no grounds for the claim.

  For freelancers, professional liability insurance (or errors and omissions as it’s also known) is therefore essential. If you find yourself in a legal dispute with a client, you’ll get an attorney to defend you, your defense costs paid and any damages due too.

  Do clients come visit you? Do you go to their offices or work on-site?

  If the answer’s yes to either, or both, of those questions, you need general liability insurance.

  That’s because if a customer trips and hurts themselves, or you damage their property, they can sue you. And without insurance you’ll have to pay for medical bills, legal fees and damages.

  General liability insurance can cover the costs of these kinds of claims. Including your legal defense fees, the cost of medical treatment and repairs or replacement of damaged property.

  Add equipment cover to your general liability policy, and the tools of your trade are protected from loss or damage, too.

  Do you use email? Own a website? Store sensitive client data?

  If the answer’s yes to any of those questions, you need cyber liability insurance. With cyber-crime on the up it’s more a case of when, not if, you’ll be hacked. And with less cash to spare for tough cyber defenses, freelancers are, unfortunately, easy targets.

  Cyber insurance can’t prevent an attack. But it means you’ll get the technical and financial support to recover from an attack and stay in business.

• What does freelance insurance cover?

  There’s a policy to cover pretty much everything a freelancer needs. Whatever industry you’re in.

  General liability insurance covers damage to another person or their property. You can add cover for loss or damage to your equipment, too.

  Professional liability insurance covers the cost of claims you made a mistake, or failed to deliver what you promised. If clients pay you for advice or a service, this policy is essential. Because you can be sued even if the claim is groundless.

  Cyber liability insurance covers the costs of recovering from a hack or data breach. It’ll also give you the technical support and tools you need to recover from one. So you’re back on your feet fast and doing business again.

  Workers’ compensation insurance is required in most states if you anyone works for you. But it’s a good policy to have anyway. It protects your income and pays your medical bills if you’re injured on the job.

  If you’re not sure what freelance liability insurance you need, chat with one of our advisors. We’re always happy to help and we can get you the right coverage, fast.

• Do freelancers need workers’ compensation insurance?

  In most states, workers’ compensation insurance is only required if you have employees.

  But as penalties for breaking the rules can be severe, it’s better to check with your state’s Department of Labor.

  If you work in a high-risk industry, like construction, you may want to buy a workers’ comp policy. That way your medical bills are paid and your income is protected if you get hurt on the job and can’t work for a time.

  Even freelance writers, for example, may be asked by clients to carry workers’ comp insurance as a condition of the contract.

  For more information, read our blog post on workers’ comp insurance for self-employed people.

• How much does freelance insurance cost?

  Freelance business insurance costs vary. The price you’ll pay will depend on things like the industry you’re in, your annual income and the amount of coverage you need.

  But you can pay in monthly, or quarterly installments, or in one lump sum. Whatever suits your budget best.