Every client I've ever had in the UK has required my service company to have indemnity insurance.
It's even more important if you're a sole trader because your liability is not limited. If you royally screw something up and get sued, all your assets are on the line.
Indemnity insurance covers you to a certain amount (usually 1,5, or 10 million). And working through a limited company further limits you to losing only what's in the company, not your personal assets like your home.
I joined a little contact whorehouse for my side gig and I pay like 10% of my invoices and get insurance and tax and payment processing. It's cheaper than ADP so I'm happy.
6 Comments
FourPacketsOfPeanuts@lemmy.world · 9 pts · 1y
Every client I've ever had in the UK has required my service company to have indemnity insurance.
It's even more important if you're a sole trader because your liability is not limited. If you royally screw something up and get sued, all your assets are on the line.
Indemnity insurance covers you to a certain amount (usually 1,5, or 10 million). And working through a limited company further limits you to losing only what's in the company, not your personal assets like your home.
baduhai@sopuli.xyz · 6 pts · 1y
I can't afford it, so I don't have any insurance.
walter_wiggles@lemmy.nz · 3 pts · 1y
Some clients require it.
MrSebSin@sh.itjust.works · 3 pts · 1y
No, but I do graphics and marketing. Having properly worded contracts is good enough CYA.
corsicanguppy@lemmy.ca · 2 pts · 1y
I joined a little contact whorehouse for my side gig and I pay like 10% of my invoices and get insurance and tax and payment processing. It's cheaper than ADP so I'm happy.
EdanGrey@sh.itjust.works · 1 pts · 1y
I have to, my professional membership requires me to.
Mr_Blott@feddit.uk · 1 pts · 1y