Why Every Freelancer Should Consider Professional Liability Coverage

Life as a freelancer can offer a sense of freedom and independence that aren’t often available when working a traditional job as an employee. However, as a freelancer, you’ve essentially turned yourself into a small business, and many risks and exposures from the commercial sector will continue to loom over your career. For most who choose this lifestyle, insurance remains a critical investment, as certain types of policies, such as professional liability insurance, can establish crucial protection against financial losses.

What Is Professional Liability Insurance?

As its name suggests, this type of coverage can provide valuable financial protection for freelancers who offer professional services or advice. Policies act as contracts and keeping up with your premiums can retain you the right to file a claim for financial assistance following incidents in which you’re accused of being to blame for other parties’ losses. Professional liability insurance may also be known as errors and omissions insurance.

Why Do Freelancers Need Coverage?

Professional liability insurance is a core pillar of a suitable freelancer insurance portfolio. When clients hire you to provide services, they likely expect a certain level of quality and accuracy and work to be completed by a specific deadline.

Should you commit errors, fail to deliver on time or otherwise be accused of inadequacies, customers may blame you for their financial losses. Resulting lawsuits may require you to hire an attorney or pay settlements and judgments; managing these expenses out of pocket could devastate your business and personal finances.

Additionally, having sufficient coverage may open more doors to you, as prospective clients may be more likely to hire you for a job if they see you have insurance.

We’re Here to Help

If you’re a freelancer in the Jacksonville, Florida, area, contact Gator Auto Insurance Agency Inc today to learn more about professional liability coverage and ensure you have an appropriate policy.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.