Today, there are over 2 million freelancers in the UK, with solo self-employment growing 35% in the last ten years.
While freelancing holds plenty of attractions, it can also expose you to certain risks that you wouldn't face as a traditional employee, including responsibility for any damage or legal claims that arise.
That's why investing in the right insurance is essential, so you won't be saddled with a crippling bill if anything goes wrong.
So that's why we've partnered with Digital Risks to provide you with 10% off your business insurance, and here's the deal:
No long term deals: flexible monthly insurance which you can cancel anytime
Enjoy a 10% discount via Creative Commission (we receive no affiliate kickback revenue - we're passing the full saving to you)
Here's a quick guide to three key policies that you should consider to make sure you get the best cover to match your needs.
Three ways to get covered for less
Professional Indemnity cover
Most freelancers are in the business of offering consultancy or advice, which means that professional indemnity insurance (PI) is a good place to start. PI will protect you if you make a mistake, or if a client suffers – or claims to suffer – a financial loss as a result of your work, covering legal expenses and compensation you have to pay. So, whether you're a videographer, photographer, designer or developer, this is a must-have. You may also find that clients insist you have PI – so it could even help you win business (or not lose it!)
And the great news is that Digital Risks provide UNLIMITED retroactive cover which means that even if a client makes a claim against you in relation to work that you carried out prior to the start-date of your policy, you’ll still be covered (provided that you weren’t aware of it when taking out the policy)
Chances are there's some kit that you rely on for your business, whether that's your laptop, filming equipment or more technical machinery – so, protecting this should be a priority. Office contents covers everything in the office, including your fit-out, computers, office equipment, furniture and documents. You should also consider portable equipment insurance, which covers everything you take out and about with you, such as laptops, mobiles, cameras and tablets.
Watch out for: if you're based in a co-working space, you may find that insurers won't cover you, stipulating that your belongings must be kept in a separate, locked office. So to make sure you're fully protected, go for a contents- and equipment insurance like ours, which covers property left unattended in a co-working space, providing it was stolen through forceable access to the building itself, an office, locker or desk drawer. If you work on a desktop, you simply need to make sure they are attached to the desk with a Kensington Lock.
Public liability insurance
Public liability (PL) protects you if you cause injury or property damage to a third party, either at your home office, co-working space, at a client's offices, or when out and about. The need for this, and your level of cover, will depend on what you do, for example, if you're a freelance film producer, you're likely to require a higher level of cover than say a designer or copywriter working from home. Similarly, if you spend a lot of time going to events and visiting clients, this will increase your risk exposure.
Freelancing can have its ups and downs and you need to stay motivated and switched on to make a success of it.
Getting the right insurance gives you peace of mind and headspace to focus on what you're really good at – and what you get paid for – knowing that you're protected, whatever happens!