Time and time again, I encounter numerous freelance bookkeepers that don’t purchase an insurance policy. I’ve to stress for you how essential it’s making this investment.
Many of us begin the company of ours due to the passion we’ve for what we do. Unfortunately, owning a company additionally includes a lot of responsibility and accountability. While we make an effort to service the clientele of ours on the very best of the features of ours, a client’s perception of the quality of ours of service might be completely different. in case without any reason they end up thinking you did them wrong, it is able to open you as much as a can of worms if you’re not protected.
For example, did you understand that in case you are taking a customer to court for non payment of a bill, we need to state within the minor claims threshold of $5,000 so it winds up in municipal court, the customer is able to counter sue you in case they think you can find mistakes in the work of yours? Did you understand that based on the errors as well as omissions insurance you bought, the policy will protect the legal fees of yours?
Much better yet, did you understand that The Hartford business insurance of yours is able to guard you against worker dishonesty and forgery? The typical policy of yours covers a little part of this, though you are able to usually have an extra policy added with increased thresholds provided. I discovered this small tidbit of info when I was researching if I had to be bonded. At the time we’d encounter a problem with a neighborhood payroll business that failed to create the tax payments for the clients of theirs and most of the customers had been held liable for the tax payments of theirs. Turns out the bond didn’t handle the customer at all.