Many independent contractors do not feel like they need any insurance because they mostly work by themselves. Every independent contractor needs an insurance plan because most of the time their job makes them accident-prone and an insurance plan will save them a lot of medical fees.

Depending on the type of job you do, there are several insurance plans that you can subscribe to, but first, you have to figure out the best insurance company to patronize. Picking an insurance company can sometimes prove difficult because there are so many choices and one can easily get confused. One thing that can help you is visiting reviewsbird.co.uk and reading insurance companies’ reviews. These are previous customers’ experiences that can help you make the right choice.

When you have picked a company of choice, the next step is to subscribe to the right insurance plan. There are many insurance packages available and not all are right for independent contractors. We have sorted through the many packages and have found the best 4 that all independent contractors should subscribe to.

Continue reading to discover them below.

Commercial Property Insurance:

You need your tools to work as an independent contractor, some of these tools are expensive and if damaged might be costly to fix or purchase a new one. What is worse is, if you do a lot of heavy-duty work, these tools and equipment can get damaged on the job. Your commercial property insurance should cover your working tools and save you the expense of digging into your savings to fix or buy a new one.

Errors and Omission Cover:

Mistakes can happen in the course of carrying out the job of an independent contractor. Spoiling a client’s job can result in lawsuits or expensive correctional steps. Since you know that this can happen sometimes, it is best to subscribe to this insurance package and let your insurance company cover the cost of fixing any errors that might have occurred on the job.

Workers Compensation Insurance:

Even when you work alone as an independent contractor, sometimes you might need help for jobs that require more than one person. Once you have hired an employee, you should ensure your staff, because accidents and injuries can occur while working and this insurance will cover medical and other legal fees. You are also an employee in your company, therefore this subscription covers you as well.

Commercial Auto Insurance:

The work vehicle is very important to the independent contractor. It can be used to move tools from one location to another and sometimes, the distance to cover might be lengthy. Vehicle breakdowns can be expensive and put a peg in your company’s productivity. To avoid being caught in a fix, you should insure your work vehicle as well and you won’t have to worry about paying for repairs.

All of the insurance packages above are very important to the independent contractor, while there are other plans you can subscribe to, these four should be first put into consideration.