Something that most freelancers don’t consider is insurance, especially if you’re just starting out in the freelance world. You’ve decided to start out on your own because you want to be your own boss, work with the clients you want to work with, or want to have more control in your life. Regardless of the reason, insurance is something you should consider. Here are the three most common for freelancers
Indemnity Insurance (Errors and Omissions Insurance)
Indemnity Insurance is the most common insurance for freelancers because it’s your primary coverage. It is the beginning of protecting your work or products due to an error or accidental omission. While it doesn’t cover the cost of criminal cases, it can help cover costs of some civil cases. If you’re working as an independent contractor or consultant, this is an excellent option for you.
Sometimes called “slip and fall” insurance, liability insurance covers you in the event of an accident on your property. Whether it’s in your home office or as a result of dog bites in some situation, you can cover your business and yourself with this kind of insurance. If you don’t do your business out of your house, this may be a non-issue for you, but it is something to consider if you have clients coming to your home office.
If you’re a writer, designer, video editor or spend the majority of your time on your computer for work, contents insurance is something we highly recommend. As it sounds, this is insurance that covers your business contents — computers, printers, equipment, etc. If you have spent the time investing in your equipment, you should make sure it’s protected in the event of a fire or theft. Contents Insurance is perfect should those situations arise.
It should be noted if you haven’t recognized it already, you are now a business. Even if it’s just you and your laptop at a coffee shop or co-working space, you’re a business, and that makes you liable with the potential to be at risk. If you’re considering business insurance in Springfield, Ohio, give us a call at Link-Hellmuth Insurance for a free quote. Let’s us be a part of your business insurance planning!