Business peopleAn independent contractor provides a service to another person or a business. They do not work under another party. Still, independent contractors are running a business. As a result, they must maintain the proper business insurance products.

As an independent contractor, what are the types of coverage you should consider? The coverage your business needs can differ based on the type of business and the assets owned. 

General Liability Insurance

Like most other businesses, independent contractors will need general liability insurance. It covers your business against claims made against it by third parties. For example, if a client falls on the property or their property suffers damage due to your actions, this policy can help cover those losses. A key component of this should be bodily injury and property damage protection. Because risks exist in most businesses, having proper insurance.

Business Owner Policy

One way many independent contractors can reduce costs is with a business owner’s policy (BOP). A BOP is a type of insurance that links together several of the most common coverage elements you need. This usually includes property damage, liability and business interruption coverage.

Speak to your business insurance agent. Inform them as to what type of work you do. Find out what type of insurance is best to protect your business. Most companies will find proper coverage is available and affordable. It can help you stay in business. When a claim occurs, you’ll have the financial help you need to move beyond it.

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