What is Self-Employed Public Liability Insurance?

If you are a self employed worker or planning to start a new business as a self employed, then you must know about the self-employed public liability insurance which is the subcategory of public liability insurance. This insurance has been designed to protect you from any type of damages occurred due to your negligence or your work's accident to the third party.

There isn’t any requirement for the self-employed workers to have this insurance buy having this could save the self-employed worker from many losses, expenses, and damages. It will cover all the damages which you are liable to pay because those damages have been occurred on your property or due to your business activities.

Who needs the self-employed public insurance?

As mentioned above, there isn’t any local law or legal requirements to have the self-employed public liability insurance but all those self-employed who work in the environment which can give damaged to the third party should consider having the type of insurance to protect them to pay compensations. These self-employed include the professionals like roofing workers, carpenters, construction laborers, grounds keeping workers, landscaping workers, hairdressers, cosmetologists, truck drivers and even those self-employed who offer professional services like accountants and auditors etc.

There is other self-employed professional also there who may need this insurance but those which I have mentioned above are the most common who prefer to choose insurance against the future liabilities as there are more chances of accidents due to nature of work and environment where they perform their jobs.

What is the premium on self-employs public liability?

The premium of any type of insurance depends on many factors and decided the insurance company. They usually look for the factors like the uncertainty of accidents, risk involvement, the place where you offer your services and type of services you are offering to your client as self-employed.

In this insurance, you have right to decide the claim in case of the accident. But more claims come up with more premiums. Usually, the insurance companies have the readymade policies according to the profession of the self-employed but the person can choose to have the customized insurance policy too as per their chances of accidents. This could be as low as $100 to million etc.

Many self-employed do have the project wise insurance to protect themselves from the liabilities. This is a great option to save a lot of money as the nature of work is different in each project and have different levels of risks and uncertainties.

Suppose that you are a roofing constructor and working in a house where the chances of accidents are very low as the families do not stay in the house during the construction work. For this project, you may ignore the self-employed insurance but if you are working in a building where people walk and parked their cars, then you probably have very high chances of accidents. For this project, you will choose to go with a high premium insurance so that you can get the high claim in case of an accident happened.