If, like me, you have been self employed you have probably considered the need for some form of insurance for your business. i used to believe that my home insurance was adequate cover, when working as a freelancer. Fortunately for me, I never had to call upon the policy which almost certainly would have proved me wrong.
Office insurance cover is an absolute must, if you want to stay in business indefinitely. You can gain credibility with customers, as it gives the impression that everyone is on the same level. It is not a case of one rule for the big boys and another for you. The law sees you as no different to the large corporate establishments employing 50,000 people.
In IT, most contractors are required by law to have the right level of insurance cover. Indeed, all one-man-bands had to set up limited companies, if only to support one person. With this limited status, comes a need for special limited liability insurance, which has two clearly distinct areas to consider:
1. General liability: covering any damages that you may cause whilst working on the premises of your employer, also extending to any damage or injury to a member of the public.
2. Professional liability: covering any errors or omissions that could arise during the course of your contract. Using my business as an example, cover may help me in the event that i made a mistake using an online library without a licence.
You will need a different insurance cover, if you make a living using a van. Specific business van insurance is available and is tailored towards the insurance of the precious cargo contained within. Some of the benefits that you should expect are:
1. 24 hour recovery for breakdown: covers breakdown and recovery anywhere in the UK for a twenty four hour period.
2. Vehicle replacement: this cover ensures that if your vehicle is damaged in an accident, it will be replaced.
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