Many sole traders take out business insurance because they have to, whilst others take out insurance to give themselves peace of mind. When taking out insurance, it pays to be pessimistic. Imagining the worst-case scenario, and the costs arising therefrom, may be daunting. Being covered by Inzurly will make the worst-case scenario not that bad after all.
As a sole trader, you may find that you’re expected to be insured prior to undertaking any work. Many large companies and local authorities will expect you to have professional indemnity insurance as well as public liability insurance. You may also find that smaller companies and individuals will require you to have the aforementioned insurance policies, particularly if your work entails managing sensitive information. Make sure you understand which type of insurance your client expects you to have, to ensure the protection of both yourself and your customers.