We know that many His & Hers readers have successful side hustles – from writing popular blogs to building booming beauty businesses that work around their lifestyles.
If you’ve recently started a side hustle that’s starting to take off, you may already be wondering what type of insurance cover you’ll need – for example, will you need public liability insurance? Here are a few tips to consider if you suspect you may need insurance cover for your side hustle, but don’t know where to get started.
Will I need public liability insurance for my side hustle?
This will depend on whether your side hustle involves contact with the general public. If so, public liability insurance is designed to cover any accidental harm or damages caused through your work activities.
In the early days in business, setting aside money for insurance may feel like the last thing you want to do, but getting the right cover in place will save you from worrying about what might go wrong, or in a worst case scenario facing unexpected costs as a result of an accident while you’re working on your side hustle.
How successful do I need to be before I take out insurance for my side hustle?
Some people put off taking out insurance for years, telling themselves that they’re not established enough, or that they’ll look into it at some undefined point in the future. If getting insurance quotes has been on your to do list for longer than you care to admit to, why not block off some time in your diary to do a little research into the type of insurance you need and finally get some cover in place. It may not be the most exciting thing you do for your side hustle this week, but it is likely to give you peace of mind and make you feel organised!
Don’t be afraid to ask for advice
If you’re lucky enough to have a mentor or friends who work in the same field, you can hopefully save yourself a lot of time by asking them what type of insurance cover they’ve taken out. Also, if you know that you sometimes put off tasks like taking out the insurance you need, why not ask a friend or mentor if they’ll hold you accountable for getting your business admin tasks out of the way. If you have regular catch-ups or phone calls, commit to getting this done by the next time you speak to them. Also, if this is something you’ve put off for a long time and we’ve finally inspired you to take action, why not reward yourself with a tea or coffee break, or a relaxing walk? Getting a side hustle off the ground can come with lots of things – such as getting insured – that you didn’t even know you’d need to deal with, so sometimes taking the time to savour small rewards can help to keep you feeling inspired and motivated, rather than rushing straight from one task to the next.
We’re very proud to bring you this feature in association with Rhino Trade Insurance. The website linked to in this article is theirs, but the words are all our own. For more features, please pay a visit to our lifestyle page.
