Insurance can be confusing and overwhelming. Don’t let the technical jargon get to you. There are different policies that freelancers should know about. Do a bit of research before making the big decision and use this small guide to get you started in your new business insurance.

One of the largest threats to a small business is the threat of a data breach. Confidentiality is important to our clients and us because they trust our company and we wouldn’t want anything to break that trust. If you are a freelancer then chances are if this happens it can demolish your finances. Having cyber liability insurance is a great way to protect you and your clients from a costly and harmful cyber attack. When a breach occurs this insurance can help cover notifying the clients, determining how the breach occurred, legal services to ensure compliance, fraud monitoring, and business expenses. Freelancers and small businesses are more likely to be targeted for cyber attacks so its good to have a plan in place.

If your business has a lot of equipment then commercial property insurance may save you from a small disaster. In the event of an accident or theft, this insurance can cover equipment such as computers, tools, gear, and even furniture. Many homeowners and renters insurance have limited or no coverage for business property so if your equipment is particularly pricey then it my be a good thing to keep on hand.

Professional Liability will protect you by providing coverage of bills in case of legal lawsuits that are related to your professional services. It covers you when someone claims that you have made a professional error such as being negligent or delivering late or unfinished work. These policies can also help pay for your lawyer or fees in the instance when one is found liable when being sued.

The most common of all is the general liability insurance that most people purchase. It protects against workplace injuries and accidents as well as property damage. It also personally protects the business repertoire against slander, libel, and copyright infringement. This covers you in case someone uses your material without permission. There are so many benefits that it would be a shame not to have it.

Now that you have the basics, go research the best fit for our company. The right coverage can make all the difference when growing your freelancing business.