businesssituation
Business situation
Becoming self-employed
Consultants, therapists, designers, trainers, and trades all become insurable businesses the day they invoice. Which policy comes first depends on what you do.
Whatchanges
What changes
- If you give advice or a licensed service, your exposure is professional liability, not slips and falls.
- If you work at other people’s sites, general liability comes first.
- Your homeowners policy does not cover business equipment or business visitors.
What to do, in order
- Name your profession precisely; many have specialty programs with better coverage than the general market.
- Quote professional liability and general liability together; some programs bundle both.
- Add a business endorsement to your homeowners policy for equipment and visitors, or buy a small BOP.
- If you drive to appointments, tell your auto carrier — most will endorse business use inexpensively.
- Keep contracts and certificates in one place; you will be asked for them.
Coverage
Coverage to check
Get professional liability optionsStart with professional liability. Then the rest.
More
Other business situations
Also worth a look.
Nextstep
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