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Self-employed insurance is a term used for any number of business insurance policies that individuals who work for themselves can take out. This would include anybody who’s a sole trader, freelancer, consultant, or contractor.

You're not legally required to have any form of self-employed insurance unless you have staff. But even if you work alone, it’s strongly recommended. Without insurance, you’d be responsible for any costs associated with accidents, injuries, reputational damage, negligence or property damage that occur as a result of your business activities. This could lead to significant financial losses that could potentially put your business and personal finances at risk.

Overall, self-employed insurance can provide financial protection for individuals who have no employer to fall back on if something goes wrong. It's important to carefully evaluate your risks and choose the right covers to protect your business and assets.

The cost of self-employed insurance depends on the type and level of policies required, the size of the business, and other factors. 

For example, the more employees you have the higher the risk that one of them could be injured in work. Or maybe the type of work you do carries a greater risk to the public - scaffolders and other trades can pose a greater risk than copywriters and similar startups, for example.

The amount of cover you take, and the excess you're prepared to pay, can all influence the overall cost too. It's important you pay for the cover you need - too much cover can mean you're paying more than you need to and too little cover can mean the policy isn't fit for purpose. If you have any questions you should check in with the insurance provider.