The Office of National Statistics found 4.8 million people in the UK were self-employed in 2017. This is a growing section of the popular and many self-employed people don’t know the ins and outs of protecting and managing their business. Whether working from home or on dedicated premises, all individuals working for themselves should protect their businesses with self-employed insurance.
What Self-Employed Insurance do you need?
The insurance relevant for your business varies dependent on many factors. One of the most important things when arranging your self-employed insurance is understanding what types of cover you need.
Most self-employed businesspeople will require public liability insurance as standard. This helps provide financial protection should a third-party claim for accident, injury or property damage due to your business or work.
Self-employed insurance options may also include:
- Professional indemnity insurance: if you provide advice and guidance
- Commercial buildings and contents insurance: if you work from a separate premises than your home for business
- Business interruption insurance: should your business be interrupted for any reason, you can access financial support
- Office insurance: whether at home or on separate premises, you can get insurance to specifically cover your office equipment and specialist tools where needed
The Risks of No Insurance
Many self-employed people believe the small nature of their business means there could never be an issue requiring insurance. However, smaller businesses have less cashflow and therefore, should there be a problem, finding the funds to deal with it is much harder. This makes it even more important to have financial protection in the form of insurance. It is a safeguard for your business should you be faced with an unexpected event or claim.
Self-Employed Insurance with Just Quote Me
Working with businesses of all sizes, Just Quote Me can help you find the right insurance. We work with business owners to look at their individual requirements and can offer quotes from a range of insurance providers to suit your needs. Contact us today to find the right cover for your self-employed business.
