Here's Why Freelancers Should Buy Commercial Insurance

Working as a freelancer comes with a variety of perks - flexible work hours, your own rate card, and the freedom to work out of any place. Moreover, depending on your clientele, you end up earning much more than you would in a corporation or an agency. But self-employment does not mean that you don't need commercial insurance. Depending on the nature of your work, you should be open to insuring your business.

Why Do Freelancers Need Commercial Insurance?

• If there is a fire or a natural disaster in your place of business, you might take a lot longer to restart your work. If you work from home, your home insurance is not likely to cover your business properties and activities.
• If there is a lawsuit regarding any work that you have done, you might not be able to cover the legal fees without liability insurance.
• If you work in web design, software development, or consulting, you are likely to face liabilities such as data or security breaches and copyright issues. You need insurance to be able to cover the costs for a potential lawsuit.
• Clients look at freelancers with business insurance as professional, trustworthy, and financially responsible.
• Some of your clients' insurers might mandate them to hire only freelancers with liability coverage, so commercial insurance will definitely put you ahead of your competition.

What Insurance Do Freelancers Need?

Irrespective of your freelance work, you should consider getting one or all of the following commercial insurance policies. Some providers sell them as bundled packages:

1. General Liability Insurance: This policy is useful when someone seeks compensation for an injury on your property or caused by your work. It includes libel, slander, and copyright infringement.
2. Property Insurance: This comes in handy when you suffer damages to your business property due to fire or theft and need to repair or replace them.
3. Professional Liability Insurance: Also known as the errors and omissions insurance, this pays for legal expenses for a lawsuit around negligence.

If you need advice on commercial insurance for freelancers in the Southern California area, contact the experts at Fullers Insurance Agency for more information. We are ready to assist you with all your coverage needs today.