Today, more and more creatives choose to pursue a career as freelancers. One of the perks of freelancing is to decide how to work and manage time. But it also means dealing with problems alone.
For creatives, risks are always around the corner and hard to manage. As creative freelancers, you may face several obstacles along the path. For example, a thief could steal your equipment or an unsatisfied client may decide not to pay you.
Fortunately, several insurances protect creative freelancers from all these problems. Read the guide and find out the types of insurance you should consider.
Types of Insurance
The market is varied, and there are many options for coverage. The following are the most common and often bought together insurances:
- Commercial Property Insurance
- Commercial General Liability
- Errors & Omissions Insurance
Commercial Property Insurance
Imagine that you bought an expensive tool, such as a new camera. It drops from your hands during a shooting session. Some insurances cover all the damages, even the possible consequences of not being able to complete a job. Commercial Property Insurance belongs to this category. For this reason, creative freelancers, such as photographers and filmmakers, consider it a must.
When looking for this policy, be sure that it covers you from theft and vandalism. Not all insurance companies offer this kind of protection. With patience, you will find the best solution for your needs.
Commercial General Liability (CGL)
Creatives work with several customers, such as models or agencies. That implies many risks you should consider. A client, for example, can get hurt in your office by slipping on the wet floor. Some insurance, such as Commercial General Liability (CGL), will cover all the costs caused by injuries and damage to people and structures.
This insurance will protect you from the risks of publishing content that causes economic or image damage to someone.
Errors & Omissions Insurance (E&O)
As a creative freelancer, you should consider getting insurance that protect you from all the risks of your professional services. Dissatisfied customers may decide not to pay you. Or you may have missed an important deadline because you were sick. Errors & Omissions Insurance (E&O), also known as Professional Liability Insurance, is designed to protect you from all these situations.
It also offers coverage for a possible violation of copyright, and financial losses due to your advice.
Benefit From Your Network
When looking for insurance, think about your job and all the risks related. Some insurance could be recommended in some countries or even mandatory. So, learn about the rules of the place where you live.
Finally, don't forget to ask your network for information. Other freelancers and creatives you have access to might have already found the best solution. Reach out to the Beazy community!