Anonymous asked in Business & FinanceInsurance · 2 months ago

Is there insurance for independent contractors and consultants?

I am interested in doing freelance and independent contracting, but something occured to me--is there insurance for independent contractors that helps pay astronomical damages such as when, for example, someone's installed plumbing bursts and causes $50,000 in damage or if a programmer creates a piece of software for a company with a security flaw that a hacker exploits and steals customer credit card information? Or do only registered and established businesses have this option?

7 Answers

  • 1 month ago

    It is called business liability insurance.  Call CNA

  • D50
    Lv 6
    1 month ago

    It's the same kind of "malpractice" insurance a lawyer would get. Call an insurance agent and ask him about it. 

  • Anonymous
    2 months ago

    Almost any insurance you can dream up is available for a price.

  • car253
    Lv 7
    2 months ago

    You received all perfect answers.   Yes, there is insurance, business insurance and bonds to cover everything you mentioned.    Call for insurance agents for some quotes.   Shop around, not for the cheapest, but for the best.   Research the companies.

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  • 2 months ago

    $50,000 isn't astronomical, but yes, you can get business liability insurance.

  • 2 months ago

    There is different types of insurance.

    A general contractor is required in most states to have a bond.  They might have liability insurance in addition to this.

    A programmer might have errors and omissions coverage that covers errors they make. 

  • 2 months ago

    Business insurance.  Contact any insurance agent for a referral. 

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