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Do Independent Contractors Need Business Insurance? September 17, 2019

Kalispell, Flathead
Do Independent Contractors Need Business Insurance?, Kalispell, Montana

Regardless of your industry, working as an independent contractor offers a sense of freedom. However, that freedom comes with risks. Since an employer's coverage doesn’t protect you, the financial responsibility falls onto your shoulders alone. Here's a closer look at why you need business insurance.

A Guide to Business Insurance for Independent Contractors

Why You Need It

If your work results in financial loss, property damage, or injury, then you're at risk for liability claims and lawsuits. There is also the possibility of damage and theft of property and equipment. The associated costs of these claims and property replacement are often significant; without business insurance, you face paying for them out of pocket.

Along with protecting you, coverage can also help you grow your business. Many businesses and individuals prioritize contractors that are fully insured for peace of mind. Put clients at ease and make yourself more appealing by carrying your own coverage.

business insuranceThe Options

There are a variety of insurance choices available; in many cases, you need to create a policy composed of multiple areas based on your work. General liability is a standard component for every industry. This style of coverage provides financial protection for claims relating to injury or property damage, as well as libel and slander.

A business owners policy (BOP) is another standard piece of coverage. In this case, the plan includes liability along with property insurance, which covers both equipment and commercial buildings. If you work at home, get home-based business insurance. Also, professions that provide advisement in some capacity need errors and omissions insurance for claims of negligence.


If you operate an independent contractor, find the right business insurance for your needs at The Insurance Exchange in Flathead County, MT. As an independent agency, the locally owned company offers Northwest Montana clients a wide selection of coverage options. Take a closer look at the providers with which they partner online, and request your insurance quote today at (406) 756-2500.