If you’re an independent contractor, it’s usually a good idea for you to secure liability insurance. Liability insurance is extremely important to protect you against any mistakes or accidents that occur while you’re on the job. There are different levels of insurance coverage depending on the type of work that you do. If you are in construction, for instance, you will usually be required to obtain liability insurance up to a specific amount in order to be properly licensed.
Liability insurance will sometimes be based on the amount of revenue that you bring in on an annual basis as well. Liability insurance can cover any potential medical costs, damage to property and personal or advertising injury. Professional liability insurance can cover you for any mistakes or errors that you make through the course of your work that leads to damages for your client. Umbrella liability insurance can be used to extend the coverage of other types of policies. Finally, workers’ compensation and employers’ liability can also be acquired, but usually is not necessary for an independent contractor.
For more information about liability insurance and the other potential insurance needs for independent contractors contact the insurance experts at Weeks & Associates Insurance Services.