Why Get Independent Contractor Insurance?
Many companies working with IT consultants require independent contractor insurance as a condition of hiring.
Independent contractor insurance coverage also helps to protect each IT consultant’s livelihood and personal assets. And while it’s usually not required by law, having insurance can help make you more marketable, as many companies (especially large ones) will ask for proof of insurance before agreeing to work with you.
Many types of independent contractor insurance are available, and what you need varies by your state’s insurance requirements.
Here are some types of insurance coverage to consider:
- General liability insurance covers the cost of incidents like bodily injury, property damage, libel, slander and defamation.
- Workers’ compensation, or “workers’ comp” covers expenses resulting from injuries on the job. You need this especially if you’re an independent contractor with employees.
- Disability insurance ensures that you continue to receive income should you experience an illness or injury that prevents you from working.
- Commercial auto insurance covers the cost of an accident should you and/or your employees (if you have them) have one while driving on the job.
- Equipment insurance covers replacing items after a theft, repairs should your tools or equipment be damaged and the cost to rent replacement equipment while you’re waiting for your claim to be processed.
TechServe’s Independent Contractor Insurance Program
Learn more about the TechServe insurance program offered by TechServe Alliance Business Services and the many benefits of Independent Contractor Coverage for: