Sole trader insurance protects self-employed individuals that run their own business in the UK. As a sole trader, you need protection against possible risks of financial loss, or claims made against your business from third parties, if not your reputation could be affected.
Sole trader insurance doesn't have to be complicated, at Alan and Thomas we understand how to provide the ultimate protection for your business.
High-quality sole trader insurance consists of multiple policies that cover every aspect of your individual business. From employee protection to group travel insurance you can create a bespoke insurance plan that’s beneficial for the everyday needs of your business. We don’t believe in offering standard insurance policies to our customers, our experts create an individual plan that’s the most beneficial for your brand. Every client is different and their insurance should reflect this!
What insurance policies will sole traders need?
One of the most important insurance policies all sole traders should have is legal liability insurance. It essentially protects a business against any personal injury or property damage claims made against you or your business. The insurance policy also covers accidents or events that are out of your control, so if a claim is made against your business, it will be dealt with quickly and efficiently.
Professional indemnity insurance protects a business against any claims of alleged failure to provide a good service towards a client. The policy also includes cover for claims of negligence, loss of data, loss of goods or money, or a breach of professional duty in your line of work. Any legal costs or expenses in the claim against you will be covered by professional indemnity insurance.
Property Damage Insurance
If you or someone in your team is involved in an accident resulting in damage to the property of someone else, then property damage insurance is essential to protect your business’s livelihood. Property includes cars, buildings and possessions, so if a claim is made against you could result in a very costly transaction at your expense.