Do Freelancers Need Commercial Insurance?

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.

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 destroy your business’s finances, which is why it’s essential to have insurance policies on hand to help you out.

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.

The right insurance policies will be different for every freelancer. For example, a web designer will need different policies than an accountant. Work with a qualified insurance agent to determine what commercial insurance is right for you. The team at Lou Aggetta Insurance Services can help you to secure reliable commercial insurance to safeguard your organization. Contact us today in Pleasant Hill, California to get started.