An English philosopher once wrote, “true freedom is reserved for the person who lives by his own work.” That’s exactly what you do as a freelancer, isn’t it? You need to protect that precious freedom as best you can, with the right insurance.
Life is full of surprises – that’s often what makes it so much fun. Insurance often exists for the unpleasant surprises. In doing so, you protect a specific aspect of your activity as a freelancer each time. In this article, you will get an overview of the main insurance policies that provide for your peace of mind….
To protect your responsibility as a self-employed person
1. Civil liability ‘professional liability’ insurance.
This coverage protects you as a freelancer for professional errors. It insures contractual liability between principal and executor. This insurance gives you peace of mind. After all, you know that any mistakes and especially their financial consequences are covered.
Added bonus: with this insurance policy, you signal to your client that you work professionally and take your assignment seriously.
2. Insurance objective liability fire and explosion
You should purchase this insurance when your business is open to the public, as is the case when you have an office where you receive clients. Does a fire start or an explosion happen? Then you can be held responsible by clients who are in your office – even if you didn’t make a mistake. The insurance then catches those blows for you.
3. Civil liability insurance ‘car and van’.
Are you taking the job for your cause? Then you are covered for damages you cause to others in the event of an accident. You really can’t skip this insurance. Without BA car and van, you won’t even get a license plate.
4. The cyber insurance
Are you unknowingly forwarding an e-mail with a virus to someone else? Is your website insufficiently secured against hacking and private data of your customers are stolen ? Then you can be held liable for the resulting damages. This insurance then provides the necessary protection, as hefty fines can still attach to a conviction.
5. Legal expenses insurance for sole proprietors
By taking specific legal expenses insurance for your case, you are also covering yourself in the best possible way legally.
Do you have a customer who doesn’t pay the bill? Not even after the necessary reminders? Then you can fall back on such insurance for the cost of litigation. Legal aid is also a valuable help when your client believes that the contract was poorly executed and demands compensation.
To protect the assets of your business
1. Fire insurance
Protects your business and home from fire, water damage and storms, among other things.
2. Theft insurance
Is an addition to your fire insurance. If you get unwanted visitors, your equipment and goods are insured.
3. Insurance informatics & electronic equipment
Covers your IT against theft and damage. To give an example that has happened to all of us before: you spill a cup of coffee all over your keyboard. In that case, insurance will intervene in the purchase of a new PC and the cost of restoring your data.
4. Cyber risk insurance
Protects you from numerous cyber incidents, such as cyber extortion and viruses. No need, you say? Last year, nearly half of all Belgian companies fell victim to a cyber attack.
To protect your self-employment future
1. Free Supplementary Pension for the Self-Employed.
With a Free Supplementary Pension for the Self-Employed (VAPZ) , you save an additional pension capital to supplement your limited statutory pension. What’s more, you save a lot on your taxes and social security contributions every year.
2. Insurance Guaranteed Income
Are you out of contention for a long time due to illness or an accident? Then the Guaranteed Income insurance ensures that you get an income on top of the reimbursement from the health insurance fund.
What insurance policies do you need?
Together with insurance experts and professors, the Xerius Social Insurance Fund developed a tool to review your situation: the Xerius Insurance Buddy. You will answer some simple questions and gain an understanding of the risks you face as an entrepreneur (to be). And most importantly, how to protect yourself against it with the right insurance.
