Whatever profession you're in if you're working for yourself as an independent contractor you'll need some for of insurance just in case things go wrong.
You can get instant online access to competitive quotes for contractors insurance for public liability and professional indemnity.
No matter what profession you are in as an independent contractor whether it be in IT, building, electrical or cleaning contractor you can get instant online quotes for all your insurance needs by following the links on this page.
Types of Contractor Business Insurance
There are two main types of insurance that contractors should consider purchasing and these are professional indemnity to cover you against any mistakes made because of the advice you have provided and indemnity insurance and you deal face to face with the general public. Here's more information about both of these.
Contractor Professional Indemnity Insurance
As mentioned above contractor professional indemnity insurance or PI insurance provide you with cover if you are providing advice to third parties and that advice turns out to be false or that someone else could have provided better advice to that business.
The policy price and costs vary by the industry you are in and your overall turnover in sales value but most independent contractors have between £1-£2million of annual insurance and this will cover you for all legal costs and the cost for settling any claims against you and your business. This type of insurance is what most professional contractor have.
Contractor Public Liability Insurance ?
Coverage for contractor public liability insurance or PL insurance will cover you if you deal face to face with the general public and the results of your business cause injury or death to a member of the public or damage to their property.
If you travel to client premises or undertake work on their business or home then you may need this as the claims against people are increasing due to the nature of the no win no fee lawyers via advertising on day time TV. The policy covers all costs and legal fees associated with any claims and most businesses have cover of around £2million.
Contractor Office Insurance
If you have a home office then you'll probably have a lot of expensive computer items which are not covered by your home contents policy because most people don't declare it. Sometimes this cover comes as standard when you purchase the above insurance but check for your own circumstances. It can also cover you against loss of earnings if all your equipment is stolen and it takes some time to purchase replacements. It's worth getting a quote to see just how this cover is seen as value for money.
So those are the main contractor insurance products you should consider and you can get instant online quotes by following the links above.