A guest blog by Noel Woodrow of Insure My Business
If you’re starting out as a freelance copywriter you may think that not a lot can go wrong. After all, you’re just writing marketing content for magazines, newspapers and websites, right? Well think again!
First take a look at the equipment you use in making your living. If you work from home you might have a PC, laptop, printer, specialist software and other equipment. A lot of household insurance policies will not cover equipment used mainly for business purposes, so what would happen to your business if all your equipment was stolen? Who would replace all the equipment? The short answer is no-one. Not unless you have adequate business equipment cover.
What about the content you write? You may think that mistakes will be up to the company that hired you to sort out. Wrong…. In some cases maybe , but there is a strong chance that if any content you’ve written causes your customer’s company major financial loss, embarrassment or defamation of character, that company could take you to court to recoup their losses and demand compensation.
Who would pay your court fees and legal costs if that happened? Not to mention that you’d be paying their legal costs as well if you lost. Well hopefully you’ve got adequate Professional indemnity to cover you in cases like this.
This might be jumping the gun if you’re just starting out but if you’re aiming to build a sizable agency in the future then you’ll end up with employees. Once you get to that point, employers liability is required by the law. It serves a real purpose – it covers your employees should they be injured while in your employ.
Even if this doesn’t affect you now, the government are constantly redefining the nature of an ’employee’ in an attempt to catch out companies who are using self-employed people to avoid their responsibilities as an employer. So it could be that in the future you could need employer’s liability cover even if you are only sub-contracting.
Perhaps you work from home and think public liability cover is unnecessary. You’re not affecting the outside world by sitting in your spare-room or office typing away…. But do clients visit your address to view your work, and (or) discuss new projects? Well if they do it’s unlikely your house insurance will cover these work related visitors.
Again the chances of you causing someone severe harm whilst going over some paperwork or just talking is minimal, but it only takes one claim and the court fees alone could leave you financially ruined…
Luckily copywriters’ insurance needn’t be expensive. Professional indemnity cover can cost just over £100 a year (based on turnover of £50,000 and a cover limit of £100,000). A small price to pay for peace of mind.
Insure My Business offers all types of business insurance. Quotes are instantly generated from a range of UK insurance providers so that business owners can select the right insurance, at the right price. There is a UK-based customer care centre for any queries – 0845 504 0661.