For Freelancers Flexible Professional Indemnity Insurance Is A Must

Flexible Professional Indemnity Insurance Is Now Available.


When you start up as a freelancer, it can be difficult to see yourself as a business. After all, you’re just one individual. Like many freelancers, you see yourself as simply one person doing a job. The only thing that matters however is how the law sees you. As a freelancer, you are treated like a business, whether you’re a sole trader or you have a limited company. People you deal with are free to make a claim against your business just as they would any other business. Therefore, taking out insurance is a must for freelancers and contractors. But don’t worry, you can insure as you go.

The Risks Freelancers Face

You might think that as a solo freelance business person, you don’t face much risk. Perhaps your expenses are low, and you can easily adjust your income to meet your needs. And who would bother going after “the little guy”, anyway? But everyone in business faces risks, no matter how big or small. You could find that a relationship with a client turns sour. You may struggle to get clients to pay invoices or have a client unhappy with work you’ve done. It turns out that plenty of people are willing to go after small businesses and freelancers because they think they can get away with it. As a solo freelancer, anything that happens could have a huge impact on your work and livelihood.

How PI Insurance Protects Freelancers

Fortunately, when you have flexible professional indemnity insurance, you’ll have a whole team that’s got your back. If anything happens and a client or someone you have worked with starts threatening to make a claim against you, you know that you can get professional advice to help you out. If it turns out you do have to pay some money, or you have legal costs to cover, your insurance helps to protect you. This can be invaluable to a freelancer who can’t afford unexpected expenses.


Isn’t Professional Indemnity Insurance Expensive?

One thing that you might worry about is the cost of professional indemnity insurance. You probably try to keep your costs low and maximise your profits. Perhaps you would much rather spend your money on exciting new tools or perhaps some advertising to boost your business? We get that. But considering that PI insurance helps you to protect your money, and it doesn’t cost as much as you might think, isn’t it worth researching at the very least? You can pay only a few hundred pounds a year to get the protection you need. Imagine if someone makes a claim against you, saying that you made a mistake in your work. You could lose thousands, instead of paying a relatively small amount for insurance. This is especially true since this cover is now available on-demand meaning you can get flexible professional indemnity insurance. You can get insured for a single day, week or month if you want. Insure as you go is a reality.

Get More Clients

Clients are increasingly requesting that the freelancers they work with have professional indemnity insurance. It helps to protect both you and them, and it shows that you run a legitimate business. Even if you’re careful, you’re still at risk of having to deal with a legal case if someone accuses you of negligence, libel or anything else.

Even though you’re a freelancer, you should still protect your business. There’s no need to risk having to deal with problems on your own.