There are many different types of insurance available for freelancers and contractors, many of which are advisable only for specific fields of work. One form of insurance which is almost universally recommended is Professional Indemnity (PI) insurance.
Due to the nature of their work many contractors are wide-open to the possibility of being sued for negligence at work and there are unlimited reasons why you could be deemed liable for a clients loss of earnings.
Let’s be honest, we all make mistakes; and one piece of bad advice or the accidental spread of a computer virus could see you landed with a hefty claim for compensation.
There are some simple steps to take in order to ensure you are prepared for claims made against you, such as keeping a detailed record of your work, and ensuring that the specifics of your contract clearly set out your responsibilities. Everything needs to be clear.
Freelance Advisor has recently teamed up with Blyth Valley, one of the top providers of PI insurance for freelancers and contractors. Over the next couple months they’ll be offering up some expert insight into the subject of insurance and the issues that you need to take into account. Proper, practical and straightforward advice from those who understand the issue intimately.
More info: Blyth Valley’s Personal Indemnity plan
Image by Caro Wallis ~ cc
