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Self-Employed Insurance That’s Made Just for You
If you’re self-employed, you need business insurance that provides you with the exact coverage you need. After all, you don’t want to end up paying for insurance you don’t use, which often happens with self-employed people.
At Simply Business, we build unique and highly specific policies for self-employed business owners like you. You’ll get only what you need; no overpaying for coverage that doesn’t apply to you.
What Insurance Do Self-Employed Professionals Need?
The type of business coverage you might need depends on the type of work you do. For example, self-employed people with retail shops may need different coverage than a self-employed contractor who works onsite at a client’s home.
Get Your QuoteProfessional Liability Insurance for Self-Employed Professionals
Professional liability insurance - or errors & omissions (E&O) insurance - is a type of policy that provides coverage in the event a customer claims you were negligent with your professional services. If your customer decides to sue your business, your professional liability insurance policy may cover damages and legal costs that you might be ordered to pay due to that negligence.
Professional liability insurance usually covers:
- Negligence or alleged negligence
- Legal defense costs
- Claims involving libel and/or slander
- Copyright infringement
- And more
Professional liability insurance usually does not cover:
- Third-party property damage
- Personal injuries
- Reputational damage
- And more
General Liability Insurance for Self-Employed Professionals
General liability insurance - also known as commercial general liability (CGL) insurance - protects you from third-party claims of bodily injury or damage to someone else’s property. For example, if you visit a client’s house and accidentally break their computer, general liability insurance may cover the cost of replacing that computer.
General liability usually covers unintentional:
- Bodily injury
- Third-party property damage
- Personal and advertising injury
- Medical expenses
- Defense costs
- And more
General liability insurance usually does not cover:
- Workers compensation
- Claims involving your tools and software
- Professional services
- Employment disputes
- And more
Learn more about General Liability Insurance.
Workers Compensation Insurance for Self-Employed Professionals
If you’re self-employed but have employees or contractors on your payroll, you may need workers compensation insurance. This type of policy covers your business in case an employee gets injured or sick on the job. Most states require workers compensation insurance, even if you’re self-employed.
Workers compensation insurance can protect your business if:
An employee gets injured while on the job, as this policy can cover medical costs and lost wages. That employee decides to sue you, in which case your workers compensation coverage may cover legal costs, payouts, and any other damages.
Learn more about workers compensation insurance.
How Much Does Self-Employed Business Insurance Cost?
Here at Simply Business, we typically base your self-employed business insurance cost on:
- The number of employees and subcontractors you work with
- Your location
- The type of services your business provides
- How long you’ve been in business
- And more
Want to find out how much your self-employed insurance may cost?
Click here to answer a couple of questions so we can help you learn how much you can expect to pay for your self-employed business insurance policy.