When you have the freedom of being self employed it can be easy to forget that you have to consider the same things as other businesses.
This is particularly true when it comes to public liability insurance. Even those who spend most of their days working from home need to consider carefully what cover they need. If you are thinking about what you need to do to go self employed make sure you consider public liability insurance and how it can help you.
Put simply Public liability Insurance pays for compensation and legal fees if you find yourself on the end of a claim. So if a customer or member of the public gets hurt or some their property gets damaged and they blame your business you can avoid facing the legal costs on your own.
Even if you’re self employed it’s likely that your business will come into contact with the public. Homeworkers can have clients visit their home or they may attend events like trade shows and markets where they come into contact with the public. In these cases you might one day find yourself liable for injury or damage caused as a result of your business activities. That is when home business insurance comes into its own.
For example a client could visit your home and trip on some loose carpet or something similar could happen at your stand at a trade fair. Legal proceedings can costs thousands – and without public liability insurance, you could face substantial costs in compensation.
But its not just the legal costs that can be a concern. The self employed don’t have the support that being part of a company gives you when things don’t go to plan. If you’re self employed you face the ups and downs of business largely on your own. So to help we offer a free 24/7 legal helpline that supports you through any legal proceedings, which can be an extremely stressful time.
Holding an insurance policy for public liability is usually not a legal requirement. However, you should seriously consider it if your business works in public areas or if you have customers on your premises.
It also covers the usual associated costs that come with a legal dispute:
Just because you’re self employed we won’t treat you any differently to our other customers. To calculate your premium we look at a number of factors, including:
Find out more about NatWest Public Liability Insurance and get a quote online today.