Business Insurance for the Self-Employed

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Self-Employed Insurance*

You know you are ALIVE when you are self employed!

On the plus side when you are self-employed you receive ALL the profits – after tax – however you also have unlimited responsibility for all losses, debts and liabilities.

This means for self-employed contractors, consultants, tradesmen and small businesses when times are good they can be very good but when business is quiet, times are challenging.

Even worse, if something goes seriously wrong on a job and you held responsible all your business and personal assets can be at risk.

Therefore it’s vital for self –employed and sole traders to be suitably insured.

We can help a wide range of self employed contractors, tradesmen and small businesses people find suitable self employed insurance.

While every self employed person is slightly different, the team at SMART know small business insurance , and in many cases, which insurance companies have the appetite and satisfactory terms for each small business occupation.

No matter if yours is a trade or professional based occupation we have a strong focus on sourcing insurance cover for self employed small business people.

Many Business Owners are UNSURE if they are COVERED PROPERLY.
We help them find affordable and SUITABLE INSURANCE so they can run their business with CONFIDENCE.*

What type of insurance does a self-employed person need?*

Being self-employed can be a satisfying way to make a living: you can choose your clients and how often you work as well as being sure that you will be rewarded for your efforts. It’s important to remember, though, that you can no longer rely on the protections that you had when you were employed. One of the most important of these is being properly insured. An unexpected event such as an accident or professional error could leave you with a significant financial loss. Therefore, it is vital that you have the appropriate insurance in place as a self-employed person.

The type of insurance you need will depend on the type of work that you do. For certain industries and occupations, for example, a self-employed person may be legally required to have certain types of insurance in place. Some government departments and large commercial clients may also require insurance coverage up to a specified amount before you can enter contracts with them.

Appropriate insurance is an important way for self-employed people to protect themselves against the unexpected. Without it, you and your business could suffer significant losses if a legal claim or lawsuit goes against you. Following are some common types of insurance you may need if you are self-employed, a sole trader or an independent contractor:

  • Business Insurance
    Business insurance may be one the most important types of insurance to have in place. This type of insurance may compensate you for damage or loss to your offices and the physical assets you rely on to conduct business. Depending on the level of cover you choose and the terms of the insurance policy it may also cover you for any financial losses that you incur when your business activities are interrupted by events beyond your control.
  • Public Liability Insurance
    Public liability insurance may protect you from financial losses when a third party suffers property damage or physical injury that is caused by your business activities. This type of insurance is well worth having in place – even if you feel you work in a low-risk environment. A simple accident that results in property damage or physical harm to a member of the public could lead to a significant claim for damages which, even if you are not at fault, can be costly to defend.
  • Professional Indemnity Insurance
    This type of insurance may protect you in cases where a client undertakes legal action against you for losses they have suffered as a result of negligence on your part when performing work for them or when providing professional advice. It could involve not completing a contract on time as well as professional malpractice which resulted in losses to the client.
  • Personal Accident Insurance
    For an agreed period of time Personal Accident insurance may pay part of your expected normal income in certain circumstances – such as when you are unable to work because of an accident or illness.
  • Cybercrime and Technology Insurance
    This type of policy may cover you against the loss or theft of electronic items as well as the potential disruption to your business from cybercrime and illegal access to your users’ data.

Self employed business Insurance*

Below are just some of the self employed trade based occupations we may be able to source cover for:

Public liability for self employed contractors*

Trade based self employed contractors usually will need at least need Public & Products Liability Insurance.

They may also need Products Liability or a ‘Business Pack’, which combines several insurance policies into a cost effective insurance package for trade based sole traders and self employed contractors.

Whether you are an electrician, carpenter, plumber, bricklayer or scaffolder, if you are self-employed we are to help you find insurance cover the SMART way.

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Personal Accident & Sickness Insurance for the self-employed*

Personal Accident & Sickness Insurance can help you pay for essential bills and other financial commitments when you have an accident or get sick, leaving you to concentrate on getting better. It can be especially valuable for self employed tradespeople who face significant risks on the job.

Professional indemnity insurance for self–employed consultants*

Self employed professional contractors and consultants will typically require Professional Indemnity Insurance and Public Liability Insurance.

Listed below are just some of the self employed consultants who we can source professional indemnity cover for :

  • Accountants
  • Adoption Agent
  • Advertising Services
  • Aged Care Consultant
  • Agricultural Consultant
  • Arbitrators & Mediator
  • Architect
  • Artist/Art Director
  • Biologist
  • Building Surveyor
  • Botanist
  • Business Coach
  • Copywriter
  • Civil Celebrant
  • Construction Manager
  • Compliance Consultant
  • Draftsperson
  • Editor
  • Ecology Advisor
  • Electrical Designer
  • Energy Consultants
  • Engineers
  • Environmental Consultant
  • Forestry Consultant
  • Funeral Director
  • Financial Planner
  • Fund Manager
  • Geographer
  • Graphic Designers
  • Gemmologist
  • Health and Safety Consultant
  • Workplace Assessor
  • Horticultural Advisor
  • Historian
  • Human Resource Consultant
  • Illustrator
  • Industrial Relations Consultant
  • Import & Export Agent
  • Interior Designer
  • Interpreters
  • Irrigation Design and Consultant
  • Information Technology consultant
  • Jeweller
  • Land Surveyor
  • Landscape Designer
  • Management Consultant
  • Marketing Consultant
  • Marriage and Family Counsellor
  • Multimedia Consultants
  • Natural Resource Consultants
  • Photographer
  • Public Records Search Firms
  • Public Relations Firms/Advisors
  • Publicist
  • Private Investigators
  • Quantity Surveyors
  • Relocation Agents
  • Shipping & Freight Forwarding
  • Translator
  • Town Planner
  • Traffic Surveys, Engineering and Control
  • Wedding Planner

If you are a self –employed and looking for business insurance, call us on 1300 542 573 to talk to a Business Insurance Specialist or contact us online.

Self employed insurance quotes*

SMART insurance brokers for self employed, sole traders, gardeners and all types of tradesmen throughout Australia. Our helpful brokers can assist you with quotes for the self –employed for personal accident and sickness, public liability and professional indemnity.

For an indication of self-employed insurance costs and to find a suitable policy for your needs talk to SMART insurance broker today.