Gone are the days when people would find comfort in a traditional 9-5 job. Now, most workers are opting for freelancing. Not only does it allow them to choose their working hours, but they can also work independently. Moreover, freelancing provides opportunities to work on different and challenging projects.
While freelancing offers several benefits, it also has some risks and uncertainties. Therefore, freelancers need insurance to safeguard themselves from any unexpected situations.
Why Do Freelancers Need Insurance?
Whether you offer your expert advisory services or deliver tangibles like graphics or content, you are running a business of your own, and all businesses are prone to risks.
For instance, a fire could damage your home office, including your computer, and prevent you from delivering your work on time. In another case, you may end up disclosing a secret or making a costly mistake unintentionally. Your client may file a lawsuit asking for compensation. You need insurance to protect you from these situations.
Certain clients insist on insurance for freelancers even before they discuss work.
What Insurance Do Freelancers Need?
Below is a list of commercial insurance for freelancers that can help them during emergencies.
This will protect you from common accidents that contribute to physical injuries. This insurance will also protect you from slander, trademark, or copyright infringement.
Professional Liability Insurance
Your client may sue you for financial losses incurred due to your negligence. This insurance will cover the legal expenses in such scenarios.
Cyber Liability Insurance
If your work involves sensitive digital information, this insurance will protect you if the data is compromised or leaked.
If your work involves expensive equipment or commercial property, this insurance will safeguard you from natural disasters and theft.
Being a freelancer can be challenging at times. However, the right insurance policy can protect you while offering coverage. For assistance with all your commercial insurance needs, contact the experts at East End Insurance Agency today. We are always ready to help you.