Independent contractors
The most common type of commercial insurance, general liability insurance, costs about $30 per month. As an entrepreneur, you are putting countless hours and energy into your business, and this coverage can protect what you are building.
As an independent contractor, general liability insurance might not top your list of priorities. But when something goes wrong, it can protect you from expensive legal costs.
State laws usually require businesses to buy workers' compensation insurance when they have employees. But if you work as a sole proprietor or an independent contractor, you may still need this coverage.
Large companies aren't the only ones vulnerable to lawsuits and other unplanned expenses. Tech freelancers face the same business risks, which is why they need insurance.
Companies of all sizes in the tech industry face the same basic business risks. Business insurance can help IT independent contractors protect themselves from liability.
Subcontractors can bring new ideas and productivity to your IT projects, but they can increase risks too. Here’s an overview of what you need to know when hiring subcontractors.
An additional insured is a business, individual, or other entity included in a general liability policy in addition to the named insured. Additional insureds are a way of extending your liability insurance coverage to another person or business.
A copyright protects your software from other people modifying and reselling it without permission, but it’s applied differently depending on whether you build software for your own company or for clients.
If you’re self-employed, it may not seem important whether you consider yourself an independent contractor or freelancer. But it may matter to prospective clients.
When you have vicarious liability for something, it means you could be held legally responsible for any resulting harm even though you didn't directly cause it. For example, a tech company could be held accountable for the actions of an employee.
With the gig economy in full swing, working as an independent contractor can be an attractive option for IT professionals. But the rewards of being your own boss also come with risks. That’s why you should consider errors and omissions insurance for independent contractors.
