Public liability insurance
The foundation. Self-employed public liability insurance covers compensation and legal fees if a client or member of the public is injured, or their property damaged, because of your work: a pupil slipping on your stairs, a coffee across a client’s laptop. It comes automatically with every Professional Saver policy, with £1 million of cover as standard and options up to £10 million.
Professional indemnity insurance
If clients act on your advice, designs or services, professional indemnity insurance covers claims that your work cost them money. For consultants, advisers, accountants and other knowledge professionals, this is usually the cover client contracts ask about first. It’s an optional cover you add during the quote.
Income protection insurance
Self-employed people don’t get sick pay, which is what income protection insurance exists to fix. Short term income protection replaces part of your income while illness or injury keeps you from working, which for a one-person business can matter more than any liability cover: the business’s earning capacity is you.
Business contents and equipment insurance
Your laptop, camera, tools and office kit aren’t covered by home contents insurance once they’re business equipment. Business contents and equipment cover protects the things your work depends on, with a £100 excess.
Employers’ liability insurance
The moment you take on help, even part-time or temporary, employers’ liability insurance usually becomes a legal requirement. Sole traders without staff don’t need it; add it to your policy when that changes.
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