Free Guide to Insurance for Contractors

Business insurance can be unnecessarily complicated. There are often too many options and not enough clarity. This guide will help explain why you need contractor insurance; the types of cover you should consider and provide examples to help demonstrate how your cover works. 

What's in the guide?

  • Why do I need business insurance?
  • What does 'claims made' mean?
  • Do I have to hold business insurance?
  • IR35 Indicator
  • Professional Indemnity
  • Public Liability
  • Occupational Personal Accident Cover
  • Directors' and Officers' Liability
  • Employers Liability
  • What is a substitution clause? 
  • Legal Expenses 
  • Arranging Cover

Why do I need business insurance? 

No matter your industry, if you work as an independent professional you are providing your client with your services, your experience and professional advice. If, during the course of your work, you make a mistake or an error that has an effect on your client or their business, then they are well within their rights to make a claim against you.

Having the right insurance in place when a costly claim is made can be the difference between keeping you in business and having to shut your business down. This could also have a negative impact if you want to work as a contractor again in the future.

Even after your contract ends or when your company closes you are still liable for any mistakes you may have made. This is because the most common type of insurance, professional indemnity, operates on a claims made basis. Due to this you need to have the relevant insurances in place at all times.

Why Brookson?

For over 20 years, we’ve provided accountancy, tax and support services to over 90,000 contractors, freelancers and self-employed professionals - it’s what we specialise in and it means we’ve been able to develop a unique service that is innovative, friendly and easy to use.

  • Know your tax position when you need to – with daily* updates from Brookson
  • Know how much you can safely withdraw from your business, without spending the taxman’s money
  • Realise your earning potential – now and for the future, with advice on pensions, investments and wealth planning
  • Benefit from FREE and unlimited employment status reviews (IR35)
  • Get support every step of the way
  • Specialist Advisors available 6 days a week†
  • Access to comprehensive Contractor Insurance
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"You take away the pain of understanding all the tax requirements and associated returns, which allows me to focus on my role as an IT contractor."

Ian Tunstill

"As I am newly self-employed, I have had lots of questions and Brookson have always been extremely helpful and ensuring I fully understand. I would not hesitate to recommend them."

Shelley Connor

*Excludes weekends and bank/public holidays. † Specialist Advisors available six days a week, Monday to Friday, 8am-6pm and Saturday, 9am-1pm. Excludes bank/public holidays.

Brookson is an APSCo Affiliate Member
Self-Employed / CIS Accredited Member
Limited Company Accredited Member
Umbrella Accredited Member
Brookson is a REC business partner
Brookson has achieved ISO27001 for information security management