December 4, 2020
More and more people are leaving the corporate world and opting to be freelancers, and for good reason. Freelancing gives you the flexibility and satisfaction of being your own boss and running your own business. However, like all types of businesses, being a freelancer comes with risks. Keep reading to find out what are some insurance policies you should have as a freelancer to protect yourself.
General Liability Insurance
This is one of the most important insurance policies freelancers should have. General liability insurance can protect freelancers against common incidents in the workplace such as property damage or third-party injuries. Even if you work from home, this policy will still protect you against:
- Trademark and copyright infringement
Professional Liability Insurance
Professional liability insurance, or errors and omissions insurance, will help cover the legal bills for lawsuits and claims related to your services. More specifically, it helps pay for lawsuits related to an error made on your part such as:
- Delivering incomplete or late work
- Making a mistake
- Being negligent in performing their work
Lawsuits are common, and this will help protect you from having to pay all of the fees associated with them.
Cyber Liability Insurance
As more people started to use the internet, cybercrime became more frequent. As a freelancer, you probably rely on the internet, to some capacity, for your work. This type of insurance will help pay for expenses related to a data breach. It’s estimated that the average cost of a small business data breach is $86,500. As a freelancer, do you have the funds needed to handle a data breach?
Commercial Auto Insurance
Did you know that personal insurance policies may exclude auto accidents that happen during a business trip? As a freelancer, you might depend on your vehicle to get to clients and meetings. This insurance policy will protect you when you are doing so. Don’t get stuck having to pay for repairs on your own. Protect yourself and your freelancing business by opting to get commercial auto insurance.
We’ve Got You Covered
If you’re a freelancer who is ready to protect themselves with MD Business Owner Insurance, let American Heritage Insurance help. We’ve been protecting small businesses and freelancers like you for over 35 years. Our flexible insurance policies are what have made us the go-to insurance provider in Maryland. Request your free quote today.