Should you have business insurance?

[lucyt712]

Hello, do many Sellers here on Fiverr based have a Professional Liability/Indemnity  Insurance policy to protect them against potential litigation from clients?

I have insurance protecting me from UK-based clients, but not the rest of the world. It's expensive to insure internationally, so I have not gone that road. This is because I think it is unlikely someone would try to sue me, but you never know something is going to happen to you until it happens to you.

 

[lloydsolutions]

Should you have business insurance? is the title of your post.

• Sellers are responsible for obtaining a general liability insurance policy with coverage amounts that are sufficient to cover all risks associated with the performance of their services.
• The above is from the Terms of Service at the bottom of the Fiverr main page.

[lucyt712]

20 hours ago, lloydsolutions said:

Should you have business insurance? is the title of your post.

• Sellers are responsible for obtaining a general liability insurance policy with coverage amounts that are sufficient to cover all risks associated with the performance of their services.
• The above is from the Terms of Service at the bottom of the Fiverr main page.

I am aware of that, just wondered how many people actually had it, as I've read on here most don't, but that was a few years ago..

[shohag_arfin]

 

100%, But no seller puts all his eggs in a bucket.

[ibetyoulookgood]

If you have your own business, you should apply for business insurance because sooner or later, it will help you pay for something.

[ibetyoulookgood]

On 8/25/2022 at 2:37 PM, ibetyoulookgood said:

If you have your own business, you should apply for business insurance because sooner or later, it will help you pay for something.

If you have your own business, you should apply for business insurance because sooner or later, it will help you pay for something. I have insured everything I own, even my life because anything can happen to me at any moment, and there is always a chance of my sudden death. That's why, when I found out about the existence of life insurance, I decided to learn about 5 million term life insurance cost and other related things and was pleasantly surprised that I would not have to pay a lot of money for this insurance, so if I die, my family will receive about $ 5 million.
 

[anniejenkinson]

13 hours ago, ibetyoulookgood said:

If you have your own business, you should apply for business insurance because sooner or later, it will help you pay for something. I have insured everything I own, even my life because anything can happen to me at any moment, and there is always a chance of my sudden death. That's why, when I found out about the existence of life insurance, I decided to learn about 5 million term life insurance cost and other related things and was pleasantly surprised that I would not have to pay a lot of money for this insurance, so if I die, my family will receive about $ 5 million.
 

I agree with you on everything. take these products when you are young and healthy; I have found I cannot get life insurance or income protection now, in my fifties. 

The only thing about getting lots of life insurance is the need to know implicitly that nobody who may benefit might assist you to die sooner, ha, if they know they will gain a massive 'bonus'! 🙂

[reiddan]

Professional Liability/Indemnity Insurance can provide protection against potential litigation from clients, which is especially important if you're offering services that could have a significant impact on a client's business or reputation.
I would recommend checking out https://ibgportland.com/health-insurance/health-coverage-for-oregon-small-business-owners-and-entrepreneurs for health coverage options for small business owners. It's always good to explore different options to find the best coverage and pricing that fits your business needs.
It's always a good idea to consider the potential risks and how you can protect your business.

Edited January 20 by reiddan