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Thursday 17th May 2012

What types of insurances should be considered while working as a freelancer or a contractor?

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What types of insurances should be considered while working as a freelancer or a contractor?

Posted by Guest Blogger 10 November 2011 Business |  Careers |  Guest blogger |  Miscellaneous |  Women in business Many individuals are choosing to work for themselves either buy setting up a limited company or working as a sole trader. When working as a freelancer or a contractor it is recommended that certain insurances are taken out to protect you and your company against any exposures that may exist.

So what types of insurances should be considered while working as a freelancer or a contractor? The main insurances are

Professional Indemnity
Covers you against any errors you make or bad advice which you give leading to financial loss from those relying on your advice. It provides protection for claims made against you as a result of allegations of professional negligence. Cover includes legal defence costs and any damages awarded. Claims for negligence can be made against any company providing professional services.

Public Liability & Employer’s Liability
Provides protection against claims for legal liability in respect of accidental bodily injury to third parties or damage to third party property arising in the course of your normal business activities.  Whether you are on your own premises or at a clients' site, you have a duty to protect anyone who might be affected by your activities. If you fail in this duty and someone is injured, or property is damaged as a result of your actions then you could become legally liable to them for compensation.

Employers' liability provides protection against claims from employees for legal liability in respect of injury or disease which arise in the course of their work and for which you are deemed to be responsible.

It is not usually required by law to have this in place but it is often a contractual requirement to have this cover.

Other insurances worth considering are Directors & Officers Liability and Personal Accident.

Kingsbridge Professional Solutions have created a package of business insurance designed to cater for freelancers and contractors that is very comprehensive yet very competitively priced.

For further information please visit www.womenin.kpsol.co.uk or contact them on 01242 808 740.
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