Independent contractors and consultants work with a variety of business and a diverse clientele. Their insurance needs can be as varied as their customers, so assembling a diversified portfolio is essential. Consulting an agency with experience in assisting self-employed individuals is a great first step in figuring out professional insurance in Indiana. Consider these factors when shopping for coverage for your professional needs:
The insurance world is all about assessing, diminishing and covering risk. As a service provider, you make commitments to clients, whether implied or contractual, to produce certain results. Each commitment presents the potential for risk. Uncertainty also increases through internal procedures, so it is important to have an expert evaluate your practices and give a risk assessment. A well-tailored general liability policy helps mitigate risk.
Errors and Omissions
The second main consideration when shopping for professional insurance in Indiana should be the possibility of errors and omissions. Types of mistakes vary by industry. Those covered for real estate agents will be very different from faults encountered by independent information technology consultants. Whatever your contract may be, an errors and emissions policy provides protection if a client files suit claiming financial harm from your failure to fulfill your obligations. Risk and errors can both be covered by a well-diversified insurance portfolio.