Not an insurance BUT - if you hold any personal data – client contact details, email addresses, anything – you're probably required to register with the Information Commissioner's Office
It costs from as little as £40 a year and takes minutes, but failing to register can result in a significant fine.
This is one of the most commonly overlooked compliance requirements for self-employed people
When you're paid for your expertise, your advice and your work - a client dispute or complaint can come out of nowhere, even when you've done everything right.
Professional indemnity insurance can cover the cost of defending a claim and any compensation you're required to pay if a client alleges your advice, service or work caused them a financial loss.
Ask yourself: If a client was unhappy with your work and made a formal complaint, could you cover the legal costs to defend yourself - even if you knew you'd done nothing wrong?
Some clients and contracts require public liability cover before you can start work and if you work face to face with anyone, it's worth understanding why.
Public liability insurance can cover you if a third party – a client, a member of the public or anyone else – makes a claim against you for injury or property damage connected to your business.
Ask yourself: Do any of my contracts require public liability cover? And if a client or someone else was injured or had property damaged in connection with my work, would I be covered?
Most self-employed people hold some client data – even if it's just email addresses and contracts. A cyber-attack, data breach or ransomware incident can happen to businesses of any size, and the fallout can be costly and time-consuming to deal with.
Cyber insurance can help cover the costs associated with a data breach or cyber-attack – including investigating what happened, notifying affected clients, and any legal or regulatory costs that follow.
Ask yourself: If my systems were compromised or client data was leaked tomorrow, would I know what to do – and could I cover the costs involved?
If your business relies heavily on one person – whether that's you or someone critical to how you operate – it's worth thinking about what would happen if they were suddenly unable to work.
Key person insurance can provide a financial payment to the business if a key individual dies or is diagnosed with a critical illness, helping to cover lost revenue or the cost of finding a replacement to keep the business going.
Ask yourself: If I – or someone essential to my business – was suddenly out of the picture, what would the financial impact be on the business?
If you run your business with a partner or co-director, it's worth thinking about what would happen to their share of the business if they died or became seriously ill.
Shareholder protection insurance can help the remaining shareholders fund the purchase of those shares – keeping control of the business within the existing team rather than passing to someone outside it.
Ask yourself: If my business partner was no longer able to be involved, what would happen to their share and would the remaining shareholders be able to buy it?
If you have anyone working for you – even part time, on a casual basis or as a volunteer – employers' liability insurance is a legal requirement in the UK, not a choice.
Employers' liability insurance can cover the cost of compensation claims if an employee is injured or becomes ill as a result of their work for you.
Ask yourself: Do I have anyone working for me in any capacity – including contractors or part time staff? If so, this isn't optional.
Contact us to be connected with our expert partners who can help you work out what, if anything, you actually need and talk you through the options.
This is for awareness and educational purposes only - it does not constitutes financial, insurance, or regulated advice. The products and protections listed are general categories – not recommendations for specific products or providers.
For advice tailored to your situation, please speak with a qualified, FCA-authorised adviser - that's exactly what our vetted partners are here for.