A complex and once expensive area of freelancer finance, many freelancers are now looking at the various insurance policies which are available to protect you in the event of an accident at work, or claims against you for negligence.
Some freelancers provide professional advice which is relied upon by others (clients). This means if you make a mistake in your work you have a direct financial responsibility to your client for the errors. Whilst you may consider the possibility remote, it does happen.
Increasingly, some clients are insisting on evidence of professional indemnity insurance and having this protection will prove to your clients that you are professional in your approach and will help in obtaining future work. These policies are now reasonably priced and will also provide peace of mind.
Some of the different insurances that you should consider getting are professional indemnity insurance, IR35 insurance, private healthcare insurance, business insurance for freelancers, income protection insurance and life cover insurance.