- June 5, 2021
Are you wondering if you should get insured as a self-employed or a licensed professional?
Well, getting insurance should never be an afterthought.
In fact, it’s one of the soundest decisions you can make to protect your business and your career. To help you better understand the importance of insurance for professionals, let’s explore together three of the most essential policies to protect your business and a few extra ones.
What insurance do I need if I am self employed or a licensed professional?
1. Professional Indemnity:
Any licensed professional providing a service for their clients should consider professional indemnity insurance (PI). Professional mistakes happen every day. But, having PI insurance will help cover the legal costs and expenses incurred in your defence. It also covers the damages or costs that may be awarded, if you are alleged to have provided inadequate advice, services or designs that cause your client to lose money.
2. Public liability insurance:
Do you host or welcome visitors to your workplace or visit other people on business? Public liability insurance covers you if someone is injured on your property and makes a claim, or if you accidentally damage their property.
3. Employers’ liability insurance:
If someone you’re directly responsible for is injured when working for you, you need to be sure they are properly looked after – and ensure your business is not harmed too. An Employers’ Liability insurance helps you cover their medical costs and any potential legal costs associated with the injury.
The policies listed above are indispensable. However, depending on your business, the policies below provide much needed additional cover.
Do you use computers, printers or other equipment? Even if you’re working from home, they may not be covered by a house insurance policy. Make sure you protect your equipment with a business insurance policy
Fire & Special Perils
Fire is one of the most common insurance claims for businesses. The right business insurance can protect you from the risk of fire damaging your property and assets.
Can your business operate if you or one of your employees is injured? If not, a personal accident cover protects your business from this potential risk.
How much will your Business insurance cost?
Because all self-employed business people are different, we believe in allowing you to tailor your cover to suit your needs. Our insurance policies start for as little as Rs 3,600 per annum! So, if you would like to learn more about the right insurance policies to protect your business, why not get in touch today?
Click here and let’s get started protecting your business.
Zaheer | Quantum Insurance