Two Types of Business Insurance for Freelancers

Nowadays, many working professionals leave behind the security of their 9-to-5 job to gain the flexibility brought by freelancing. The world has witnessed the rising numbers of people joining the freelance workforce in the last ten years. Working anywhere at your preferred time and pace entices many people to turn themselves into freelancers.

If you are freelancing, you are considered a type of self-employment. And like other types of business, freelancers also face risks connected with their regular business operations. Hence, freelancers need protection from these risks. Good news for freelancers because there are insurance policies that are tailored to their needs.
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Freelancers should consider these three types of business insurance to protect themselves and their freelancing business:

General Liability Insurance
General liability insurance is the kind of business insurance that offers financial protection from claims that your business has caused bodily injury or property damage. Even freelancers who are mostly working from home can benefit from this liability insurance.

For example, your printer is broken, and you hired a technician to fix it in your home office. While the technician is repairing your printer, he slipped on a wet floor and got injured. General liability insurance can shoulder the medical expenses of the technician.

Suppose you are doing a proposal presentation to a client, and you accidentally spilled your coffee on the client’s laptop. In that case, general liability insurance can cover the expenses of replacing or repairing the client’s laptop.

This insurance policy can also cover the costs of reputational harm or advertising injuries caused by your business. Suppose a competitor filed a libel or slander case for your negative remarks or copyright infringement for using someone’s photographs or other materials without permission. In that case, general liability insurance can cover these claims.

Commercial Auto Insurance
Commercial auto insurance is another type of business insurance that can provide you financial protection for your business vehicle. You might have auto insurance, but most policies do not cover accidents during business trips. As a freelancer, you are often your vehicle to transport you to your client and business meetings. 

If you are driving your car going to a client meeting and you accidentally hit someone on the street, your car insurance might not be able to cover the medical expenses of the other person. In this case, it is your commercial auto insurance that can shoulder the costs.

Conclusion
Freelancers like you are not exempted from risks associated with managing a business. Any freelancer must get business insurance to protect himself and his freelancing business. This insurance policy can also help you ensure that you will still have a freelancing business in the years to come.

At Hayek Insurance, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays, and we're here to help you out. Learn more about our products and services by calling our agency at (805) 496-8835. You can also request a free quote by CLICKING HERE.