insurance for sole traders
Receive preliminary quotes for sole trader insurance. Tips to find affordable cover. Shop around to compare prices and features offered by different policies. Fire/ property damage insurance covers your building, stock, customers’ goods, business contents and other items against a range of natural disasters, depending on your policy. Arthur J insurance for sole traders. Gallagher Insurance Brokers Limited is authorised and regulated by the Financial Conduct Authority, FRN 311786.
Gallagher Insurance Brokers Limited is registered in Scotland, registered number SC108909. Registered Office: Spectrum Building, 7th Floor, 55 Blythswood Street, Glasgow, G2 7AT. As a tradesperson you do a lot to protect yourself at work . Don’t forget to protect your business too. Our Business Insurance has the covers to do just that. A roofer could dislodge a tile and hit someone below, resulting in an expensive claim.
Remember just because you start your business as a sole trader doesn't mean you have to trade as one for the rest of your life, you can change you business' legal status, as your circumstances change. In some cases incorporation can reduce the amount of income tax you pay on your business profits as well as make you a separate legal entity from that of your business. Speak to a business advisor or accountant to find out the implications for your business. If you are working independently in a knowledge-based role, then you are part of a growing community. The number of self-employed people in the UK is on the rise, from 3.8 million in 2008 to 4.
This means that self-employed workers (whether contractors, freelancers, or sole traders) make up, on average, 15% of all workers. In London this figure is as high as 17%. Our insurance products are designed to suit professionals who work for themselves, as freelancers or contractors, as well as small business owners. As a self-employed person or sole trader, insurance may not be high on your list of priorities. But, although you may feel confident in the quality of the service you provide, and even if there is no fault with your work, you could incur significant costs to defend yourself against any allegations.
Although nobody likes to think that this kind of thing will happen to them, it can and does. And the impact on small businesses can be great. Even if a claim is unfounded, the process of battling it can be expensive, time-consuming and disruptive. So it’s wise to cover all bases with an insurance plan. We offer a range of profession-specific policies, all of which are designed with small businesses in mind, including sole traders and freelancers.
For example, if you have members of the public on your premises, it is important to ensure you have protection in place should they trip over a piece of your equipment and injure themselves. This can also apply if you visit them on their premises and, as an example, damage some of their property. More about > Personal accident insurance Personal accident insurance covers your business in the event that you are unable to work as the result of an accidental bodily injury. It protects against the financial impact of this by providing your business with a lump sum or weekly amount. It’s designed for those whose business would struggle should they or a key member of their staff find themselves unable to work, and offers protection against income loss, whether that’s from a short-term injury or a serious accident with long-term implications. Personal accident insurance for self-employed people can offer a real life-line due to there being no employer to fall back on should they find themselves unable to work. More about > Office insurance Whether you work from home or an office, our office contents insurance policy protects your business against the cost of replacing or repairing your business equipment if it is accidentally damaged, lost or stolen. You can also add a range of specialist covers to your policy such as portable equipment (e.
laptops and phones). More about > Cyber and data risks insurance Our cyber and data risks insurance supports and protects small businesses if they experience a data breach or are the subject of an attack by a malicious hacker that affects their computer systems. It provides comprehensive cover, simplicity, reputation protection and a trusted partner in the event of a claim. More about > What level of cover do I need? When it comes to self employed insurance, protection for your business if you are unable to work is probably on the top of your list of priorities. You are your business, with no larger company infrastructure or support to fall back on, so it’s vital that your business’s income doesn’t disappear should something happen to you.
It can bring security by providing your business with a lump sum or weekly amount if you’re unable to work as a result of an accidental bodily injury. Things like office insurance can also be helpful if you rely on expensive equipment to work, and of course public liability insurance will give you the peace of mind that you’re covered should you face any claims for compensation from members of the public or clients. When deciding what level of cover you need, it’s wise to think of how you would cope financially should you be unable to work or face a legal battle. This should give you an idea of the appropriate package for you. Products issued by AAI Limited ABN 48 005 297 807 trading as AAMI Business Insurance except AAMI Life Insurance, Accidental Injury and Income Protection which are issued by Suncorp Life & Superannuation Limited ABN 87 073 979 530, AFSL 229 880 under the AAMI brand.