Different Types of Insurance for Self-Employed Creatives

Different-Types-of-Insurance-for-Self-Employed-Creatives

Navigating the world of self-employment can be exciting, especially if you're working in the creative industries.

Whether you're a photographer capturing memories, a musician setting the stage ablaze or an artist painting stories, your talent adds value to the world. However, the self-employed journey comes with its challenges, particularly in terms of managing risks.

Insurance, in this context, becomes an invaluable ally. Here's a detailed guide on the various types of insurance offered by Mode Insurance for self-employed creatives.

Public Liability Insurance

What it is: Public liability insurance covers claims made against you for injuries or damage to property resulting from your work activity.

Why creatives need it: Imagine displaying your artwork and someone tripping over an installation wire, or someone getting a minor injury during one of your workshops. These scenarios can lead to costly claims. With public liability insurance, you can confidently conduct your activities, knowing you're protected against unforeseen accidents.

Find out more about Public Liability Insurance

Equipment Insurance

What it is: This insurance covers the cost of repairing or replacing equipment that gets damaged, stolen or lost.

Why creatives need it: For many creatives, tools and equipment are vital. Photographers rely on their cameras, musicians on their instruments and artists on various tools. The loss or damage of these can not only be expensive but can halt projects. Equipment insurance ensures you're back on track without significant financial setbacks.

Find out more about Equipment Insurance

Professional Indemnity Insurance

What it is: It protects against claims from clients who believe they've suffered a loss due to advice or services you provided.

Why creatives need it: Let's say you're a graphic designer who delivered a project, but the client claims it caused them a financial loss, or you're a consultant who provided advice that allegedly led to a project's failure. This insurance covers the legal costs and potential compensation payments.

Find out more about Professional Indemnity Insurance

Employers' Liability Insurance

What it is: If you employ someone, this insurance covers claims from employees who've suffered harm (physical or mental) due to their work.

Why creatives need it: Even if you employ just one assistant or have a small team, workplace mishaps can happen. An assistant might injure themselves moving artwork or suffer strain from repetitive tasks. Employers' liability insurance ensures that you can handle such claims without a financial burden. It is also a legal requirement if you have employees.

Find out more about Employers' Liability Insurance

Product Liability Insurance

What it is: It covers claims made against you if a product you sold or supplied causes harm or property damage.

Why creatives need it: If you're an artisan selling handmade products or a musician selling equipment, there's a chance a product might malfunction. For instance, a scented candle might cause an allergic reaction, or a guitar pedal might malfunction, damaging other equipment. This insurance helps protect against the costs of such claims.

Find out more about Product Liability Insurance

 

Self-employment in the creative field is immensely rewarding, but it's essential to safeguard against potential pitfalls. By understanding and investing in the right insurance, you can focus on what you do best: creating and sharing your art with the world.

With Mode Insurance, you're not just buying a policy; you're investing in peace of mind, ensuring your passion and profession coexist harmoniously.

Written by

Luke Glassford

Marketing Director

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Your craft deserves the best protection. With Mode Insurance, you're not just getting coverage -  you're gaining a partner who understands and supports your creative journey.