Self-Employed Business Insurance

Coverage That’s Tailored To Your Exact Needs

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Tailored Business Insurance for the Self-Employed

If you’re self-employed, you need business insurance that provides you with the exact coverage you need. 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.

That’s the Simply Business promise!

Ready to get covered? Click to discover the kind of policies we carry for the self-employed:

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What Is Self-Employed Business Insurance?

Self-employed insurance is a type of coverage that’s ideal for people who work for themselves, as opposed to others. Most self-employed business insurance policies include general liability coverage.

What Does Self-Employed Business Insurance Cover?

The great thing about self-employed business insurance at Simply Business is that it can be tailored to cover your exact needs. Whether you’re a handyman or a cleaner, we’ll build a policy just for you.

What Business Insurance Coverage Do Self-Employed People 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 might need different coverage than a self-employed contractor who works on-site at a client’s home.

That’s why Simply Business usually starts by recommending the following self-employed insurance requirements:

Workers Compensation Insurance For the Self-Employed

If you’re self-employed but have employees or contractors on your payroll, you 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 - so don’t get caught without it!

Workers compensation insurance can protect your business if:

  • An employee injuries herself 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 can cover legal costs, payouts, and any other damages.

Learn more about workers compensation insurance here.

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
  • And more

Want to find out how much your self-employed business insurance will 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.

General Liability Insurance for the Self-Employed

General liability insurance for the self-employed - also known as commercial general liability (CGL) or general liability - is a type of policy that covers you from financial claims involving accidents, property damage, and even reputational damage. Without this type of coverage, you and your family could be personally liable for any claims or lawsuits involving your business.

Check out what general liability insurance for the self-employed looks like in action:

Property damage: If you spend a lot of time on client properties, you definitely need this type of coverage. If you end up accidentally damaging a client’s home or property in any way, your general liability policy can cover the resulting repair costs.

Accidents: Accidents happen all the time - but without general liability insurance, you could end up paying for accidental damage out of your own pocket. For example, if a client’s property is broken into because you didn’t properly lock up after a job, your policy will usually cover legal claims and damages.

Reputational damage: If you end up saying something slanderous about a client, you could end up getting hit with a lawsuit over reputational damage. In the (hopefully unlikely!) event that happens, your general liability policy can cover legal costs, as well as any court-ordered payouts.

So what’s not typically covered by a general liability insurance policy?

  • Employee injuries and/or sickness
  • Tool theft
  • Damage to business materials
  • Employee lawsuits

Learn more about commercial general liability insurance.

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