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Do Freelancers Need Commercial Insurance?

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People across the country are taking the plunge to start their own business or are looking to step out of the 9-5 life. While the pandemic caused moments of fear, it also sparked a creative side in people and opened up a new market of useful products. If you are thinking of freelancing, whether on the side of your corporate role or to take the plunge into entrepreneurship, there is some protection you need to have in place first – notably, commercial insurance in Renton, WA.

 

What Commercial Insurance Freelancers Need

 

If you work out of your home or a coffee shop, you still need some forms of insurance. If a fire occurs and destroys your laptop or business papers, what would you do? If a client sues you for financial losses, could your freelancing business pay the fines? Such disasters could land you in hot water, which is why it’s essential to have insurance policies on hand to help you out.

 

The right insurance policies will be different for every freelancer. For example, a web designer will need different policies than an accountant or nail technician. Work with a qualified insurance agent to determine what commercial insurance is right for you.

 

Consider the following coverages:

 

  • General liability insurance. This policy kicks in when someone seeks compensation for a bodily injury they suffered on your premises or property damage caused by your work. General liability insurance may also cover claims of slander, libel, or copyright infringement.
  • Property insurance. If you own commercial property or expensive equipment, you should take out a commercial property insurance policy. Your homeowners insurance will not cover your business equipment if they are damaged or lost in a disaster.
  • Professional liability insurance. Also known as errors and omissions insurance, this policy covers legal expenses when a client claims your negligence caused by financial losses.

 

Additionally, you may also want to consider

  • Commercial umbrella policy
  • Commercial auto insurance
  • Cyber liability insurance

 

Talk to a professional to ensure your freelancing business gets the right protection in place today. For a commercial insurance policy to suit your business at the right price, contact the team at Humble & Davenport Insurance today.