When becoming an employee with a company you do not need to worry about insurance. This is all dealt with by the head of the company itself. So, this all changes when you decide to become the sole trader of your own company. You are the owner, you need to source the insurance. Today, we are going to share with you some insurances you should consider for different types of services.

Public Liability
This is probably one of the most well-known types of insurance for businesses. This is the insurance you need if you are going to have any member of the public on your premises. This includes if you sell stock at any events, have people visiting your property and more. This insurance covers you if anyone was to get hurt whilst on your premises. If they were to sue you/your company, you can claim this on your public liability insurance.

Income Protection
This type of insurance is one that is commonly used as it helps to protect and maintain your income. Long term income protection insurance protects you from if you fall poorly or have an injury that means you can not return to work. The payouts are likely to continue until you are well enough to return to work. Short-term policies are put in place to last one or two years. These will only cover mortgage payments and other necessary costs.

Professional Indemnity Insurance
This type of insurance should always be considered if you offer a service to people. It protects you if one of your clients was to not receive the work to their standards or on time for any reason. It means, if they ask for payment for sourcing someone else to complete the work, this will not come directly out of your pocket, you can claim it on your insurance.