Congratulations! You’re an independent contractor which means you’re self-employed. While there are many advantages to working for yourself, there are also precautions you must take to protect yourself, your business, and your clients.
You can’t afford NOT to have Liability Insurance, especially in the age of frivolous lawsuits. Consider this scenario:
You’re an esthetician who performs facials on a regular basis to a specific client. After finishing up her session, you leave the room in order to allow her to dress. Little do you know there are drops of water on the floor, and as your client is leaving the room she slips on the water, falls and breaks her wrist. That weekend you start getting calls from her attorney. Your client has filed a claim against you. You can’t believe it.
Without Liability Insurance, you’ll have to pay all the legal costs for the lawsuit out of your own pocket, and if she wins the case, you can probably kiss your business goodbye. Then where will you be?
Having Liability Insurance protects you whether you were negligent or not when someone is injured in your care or on your property. It covers the damages from a lawsuit, as well as any legal fees involved.
IMPORTANT TIP: Keep all transaction records from past clients for a minimum of 6 years. Claims can be made against you for up to 6 years.
The cost of your annual premium will depend on the amount of coverage you wish to purchase and the type of business you own. Not every insurance provider offers liability coverage for your particular business. If you’re a beauty professional you’re in luck because Fortier Insurance specializes in the beauty industry and knows exactly what your needs are as an independent contractor. They’ll explain the different liability policies and what each policy will protect you from, and what it can pay out for any valid claims against you and your business.
Tiffany Buczek is a freelance writer and licensed esthetician living in Southern CA.