If you work by yourself and are self-employed then you need to ensure that you have organized the right insurance for your business and you. This is insurance that covers your business and you against any unexpected or unforeseen accidents, mishaps or set-backs that could cause you serious problems and serious losses. Though you may never use it, this kind of insurance is essential to buy just in case that rainy day does ever come along!

The first thing to look for is Public Liability Insurance. A large number of companies sell insurance known as Public Liability Insurance for the self-employed. A little bit of research on the internet uncovers a host of different policy types and a broad selection of quotes. Public Liability Insurance is one of the most important types of insurance for a self-employed business. It protects you and your business against claims made against you by third parties, clients and customers and members of the public.

The precise type of insurance you will want will depend on your form of self-employment and one policy type will vary from another. Depending on your career and the nature of your relationship with the general public it is possible you will have to combine a form of Public Liability Insurance with other types of insurance. As an example, financial advisors might need to take out both a normal public liability insurance policy and in addition, some kind of professional indemnity insurance. This is because of the nature of their job and the fact that they hold a position of trust in talking with the public at large. As well as this, it is often the case that the regulatory bodies of your industry will require that this insurance is taken out.

So what then are some of the most commonly used insurance policies for the self-employed?

Public Liability Insurance
As mentioned above this protects your company from claims by the public, by clients or customers or by any third party and is essential for nearly all businesses.

Employer’s Liability Insurance
Crucial insurance for self-employed workers who have got to their point in the development of their business where they will have to employ people.

Professional Indemnity Insurance
This is insurance that covers you for the services you take on in your professional capacity and covers any service or advice you pass on to clients or customers. If that advice proves to be inaccurate or a service done badly and the customer sues you for damages, you would need Professional Indemnity Insurance.

Commercial Vehicle Insurance
For those workers who use a commercial vehicle for business purposes, commercial vehicle insurance is required by law.

Business Buildings Insurance.
If you operate a business from home or rent or own a business site then Buildings Insurance is a must. Many policies will cover not just the building but also the business equipment inside.

Whatever type of insurance you’re after, look out for insurance brokers who specialize in self-employed packages. Normally they will also sell tax solutions, contractor mortgages, contractor pensions, umbrella companies and other things relating to self-employed working. They will also be able to find you the best rates on the market.