Insurance for contractors
Conservative estimates put the number of contractors, freelancers, and self-employed working in the UK at around 4.8m as of early 2017. Working for yourself comes with a great number of benefits - greater flexibility, the potential to earn more, and a chance to carve your own path. The contribution of contractors to the UK economic landscape over the last decade has been huge. The country would undoubtedly find itself in a much worse position without their contribution.
Here at Kingsbridge Contractor Insurance, we recognise the great strength of the contracting community. It is for that reason that we offer the most comprehensive and compliant contractor insurance cover on the market. Ploughing your own furrow is all well and good, but there's no reason to put yourself out there without making sure you're protected. Our policy package contains all the insurance cover modern-day freelancers and contractors need.
Our years of experience have allowed us to develop a product superior to any other available. We offer our cover in one easy to manage, simple package. We're so confident that you won't find the same (or better) cover for a better price that we offer a price promise - if you can find the same offering elsewhere for less than you'd pay with us, we'll match it.
You can either pay for your policy upfront in a single payment or in monthly instalments - you can choose whichever option is easier for you. Our expert team of agents will be on hand to guide you through the process. If you prefer, you can get a quote and purchase your policy online. Either way, the process is simple and easy to follow. If you have any questions, or need to make any amendments to your policy, it's just as easy to get in touch.
So what does the policy contain? We've included all of the following in one simple product - there's no need to find and purchase each one by one. Read on below.
We offer our professional indemnity insurance cover on an any one claim basis. This particular cover will protect you against claims for negligence (making a mistake, for example, or giving bad advice.)
It also provides cover for loss of documents, loss of data, breach of intellectual property, and defamation and libel. Holding professional indemnity insurance also serves as a key IR35 indicator for contractors - it is seen by HMRC as being a key indicator of genuine self-employment.
As a contractor you're responsible for anyone who might be affected by your actions. This where public liability insurance steps in. This part of the policy provides cover for damage to third party property, as well as injury to third party persons. It'll also cover any legal fees that come about as a result of claims you have to defend.
This is the part of the policy we receive the most claims against.
As a contractor, the main catalyst for any enforced time away from jobs is likely to be caused by injury. If you're injured and unable to work you're likely to be looking at significant financial loss. If that injury occurred in the course of your work, and if you have personal accident cover in place, you'll be paid a weekly sum whilst you recuperate (up to £500 a week.) You'll also receive a substantial pay-out if your injury leaves you permanently unable to work.
Even though you work as a contractor and don't have any employees of your own, it's still very likely that your client will require you to hold employers' liability insurance.
This cover is also required by law in certain circumstances. If you're employing a spouse or partner for clerical work, for example, then it is needed. Another unsung benefit? Employers' liability will also protect you if you have a substitution clause in your contract.
If your business is accused of financial mismanagement, a legislative breach, a health and safety failure, or of breaching company law, then your contractor insurance policy with Kingsbridge steps in.
Having directors' and officers' liability insurance provides you with reassurance and a valuable safety net should anything go wrong, covering any legal fees that may arise as a consequence of any claims you have to defend.
Our contractor insurance package isn't all we offer at Kingsbridge. We have specific cover for you if you have a Trades role or work in the media industry . We also offer Legal Expenses insurance. If you want to know any more about any of the above, or simply want to complete your purchase, give one of our friendly team a call on 01242 808740.