Why Insurance is Important for Freelance, Sole Trader and Self-Employed Professionals
Working on a freelance , sole trader or self-employed basis – whether you’re a management consultant, business consultant, marketing consultant, change consultant, project or programme manager, training consultant, graphic designer, copy writer or another type of freelancer – these roles brings a unique freedom to work the way you want – when and where you want. But that freedom also brings risk.
Who covers your back if something goes wrong? Who pays the bills if, for instance, the loss or theft or crucial equipment leaves you unable to work temporarily? Could you afford to run out and buy replacements, just like that? What if a customer accuses you of a failure in your advice or service and threatens legal action?
Without the safety net of an employer watching your back, recovering from these kinds of setbacks, is down to you alone. That is why freelancers insurance is so important. A commercial combined insurance policy, tailored to your needs and yours alone, is a simple and effective way to protect against all these risks – so you can get on with running your freelance business, on your terms.
About the Economy
Freelancing as a way of working is growing fast. In fact, it has grown by at least 25% since 2009 to represent around two million workers across a wide range of industries who, between them generate somewhere in the region of £100 billion[1].
Indeed, it is hard to overstate the growing importance of freelancing as a form of employment. It is thought that around 50% of the workforce at companies like Google and ASOS is made up of freelancers[2].
For many, freelancing brings a freedom and control that a salaried job does not. It’s a route to work life balance as well as a way to ensure valuable skills generate maximum reward. But the flip side is a lack of job security, or the safety net that comes with knowing an employer “has your back”’.
That is why the step into a freelance life needs careful consideration of the risks as well as the rewards – and mitigating those risks means taking out freelance insurance that protects your livelihood, without breaking the bank.
Get Freelancer Insurance, Sole Trader Insurance or Self-Employed Insurance
We will make light work of finding you the right freelancer insurance quote, sole trader insurance quote or self-employed insurance quote at the right price – in fact, we’ll make it as quick and easy as 1, 2, 3.
We know you’re busy, so we’ll provide advice and search for the right insurance you need, so you don’t have to. This will leave you to get on with running your business safe in the knowledge you’re protected. Contact us to put us to the test.
[1] https://www.forbes.com/sites/peterjohnston/2017/04/20/why-freelancers-will-fuel-uk-businesses-in-the-post-brexit-economy/#610d526b7c35
[2] https://www.forbes.com/sites/peterjohnston/2017/04/20/why-freelancers-will-fuel-uk-businesses-in-the-post-brexit-economy/#610d526b7c35
Terms and Conditions
* We randomly surveyed 54 new business policyholders (12.5%) with insurance start dates between 12 April 2019 and 1 August 2019. 93% made a financial saving by moving to smei, with an average saving of 15.96%. This data excludes commercial and residential insurance for landlords.
** Standard and optional cover may differ dependent upon insurer.
