Business Insurance: Every Self Employed Person Should Consider

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Self-employment is an increasing trend in a career nowadays. It is essential to protect your business no matter where you go. Avoid being at risk of paying compensation costs and legal fees alone. With business insurance, the self-employed will be covered for legal fees and any compensation needed to pay in case of a claim. 

Working for yourself comes with responsibility. Having business insurance helps in covering fees and other costs. While self-employed businesses come in different shapes and sizes, below are some coverage that may fit your business. 

• Professional Indemnity Insurance
  This insurance covers the work that you do. If you provide service or advice for a customer, they could sue you in case of a mistake. Fortunately, having professional indemnity insurance helps in paying any compensation in case of a claim. 
  
  
• Public Liability Insurance
  If your business consists of hosting visitors to your workplace, this insurance is for you. It covers the cost if someone is injured on your property and makes a claim. Similarly, if you spill something on furnishing during a visit - you could face replacement costs. 
  
  
• Employers’ Liability Insurance
  If your business includes full and part-time staff, freelancers, or volunteers, employers’ liability cover is required by law. This insurance is the right coverage, especially if someone you’re directly responsible for is injured because of their work for you. 
  
  Optional Extra Coverages for Self-Employed
  
  
• Business Equipment
  The home contents policy does not cover the use of computers, mobile phones, the kitchen, and other equipment. It’s better to ask for a quote for business insurance online to add business equipment cover to your policy. 
  
  
• Vehicles
  This coverage is perfect for the type of businesses that are always on the move. If you use a vehicle for business use, you will need vehicle insurance to cover claims. 
  
  
• Products Liability
  In case a product you’ve supplied causes injury or property damage, the product liability covers footing compensation and legal defense costs. 
  
  
• Personal Accident
  If your business relies on you, make sure to get personal accident coverage. Having this coverage helps in paying your wage until you recover in case of injury.

Each business is different so that you can customize your policy options — most insurance companies based their policies on the size of the business, location, and annual revenue. Most importantly, running any business means no minute should go to waste, so it is better to get business insurance. 

At Brad Spurgeon Insurance Agency Inc., we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (409) 945-4746 or Click Here to request a free quote.