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It is now a general requirement that freelance workers who own/operate Personal Service Companies (PSC) will hold some form of business insurance.
Call 0161 703 2549 or email firstname.lastname@example.org
The types of insurance policies and cover levels will be dependent on the type of service that contractors are providing and the specific agencies & end clients they are providing services to.
The three most common insurances held by contractors are:
Dependent on their personal needs, freelance contractors may also like to consider additional policies such as health insurance, personal accident and income protection cover.
The only insurance required by law is Employers Liability but there is a specific exclusion to this rule if the contractor is only director/employee of their own PSC.
If there is more than one worker in a business (i.e. if the contractor employed their spouse) then Employers Liability will need to be in place.
This will depend on your contract and the actual services you carry out but most contractors commonly hold the following:
Professional Indemnity – £1,000,000
Public Liability – £1,000,000
Employers Liability – £10,000,000
There are many compelling reasons why contractors should purchase business insurance, these include
Champion Insurance Brokers (part of the Champion Group) can support contractors with all their insurance needs. Champion policies are underwritten by RSA and premiums can be paid in monthly instalments.
A basic insurance package includes the following:
There are options to increase the limits of cover and to add bespoke insurances & benefits such as:
Note – Champion clients benefit from a 20% discount on all insurance quotes.
To obtain a quotation tailored to your requirements and to benefit from exclusive discounted rates, please visit Champion Insurance Brokers
Alternatively if you have special requirements, or would simply prefer to speak to one of the Champion Insurance team, please call 03330 430 430