There are several types of insurance that a contractor may benefit from. These policies are known as:
Professional Indemnity Insurance - in case a client sues for making a costly mistake whilst undertaking contractual duties such as the loss of data or unintentional breach of copyright.
Public Liability Insurance - in case a member of the public is injured, or property is damaged as a result of the actions of the company (or its employees).
Employers Liability Insurance - in case an employee is injured (or worse) whilst working for the company. Often mandatory for any company's that has more than one working employee.
There are several types of insurance that a contractor may benefit from. These policies are known as:
Professional Indemnity Insurance - in case a client sues for making a costly mistake whilst undertaking contractual duties such as the loss of data or unintentional breach of copyright.
Public Liability Insurance - in case a member of the public is injured, or property is damaged as a result of the actions of the company (or its employees).
Employers Liability Insurance - in case an employee is injured (or worse) whilst working for the company. Often mandatory for any company's that has more than one working employee.
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Dedicated 1-on-1 accounting support for contractors and consultants from £75/mo. Set up a new limited company or switch accountants, optimize your take home pay, get IR35 advice and all your company filing sorted.
We explain which contractor segment you might fall into. We walk through IR35 and the implications for you and how you may fall inside or outside of IR35.
- What is a contractor
- Types of contractors
- Contractor business structures
- Contractor accounting
- Understanding IR35
- Contractor insurance
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Book a free 20 minute call with an accountant to talk though starting, registering or switching your company.
- Book a time online instantly
- Registering for VAT
- Self assessment
- Sole trader vs limited company
- Dividends and personal tax
- Registering your company
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