Good News for Self-Employed People- A New Liability Insurance Cover is Now Available
A public liability insurance cover, offered as a pay-as-you-go model has just been launched and the plan is to cover the 5 million freelancers and self-employed individuals in Britain. The company offering this cover is none other than Zego and the cover caters for about 80 different professions, including accountancy, hairdressing, and social care.
At the moment, lots of self-employed workers are faced with two extreme options. They can either choose between working without insurance and purchasing an annual insurance policy- irrespective of how long they intend working for. The former makes them vulnerable to a tidy sum of potential claims for damages if an accident occurs. An annual policy, on the other hand, is not a cost-effective option for many people who only freelance occasionally.
However, this new pay-as-you-go insurance cover can cover workers for as little as an hour, ensuring that the workers only pay whenever they work. The payment can also be done through a smartphone app, emphasizing the need for flexibility and ease. The fact that virtually any profession can leverage the opportunity is also commendable.
The company already provides insurance cover for freelance workers offering delivery and driving services. About 33% of the customers work across manifold platforms. According to the Chief Executive, Harry Franks, the new initiative is about making insurance fit for those who do not work full time or those who juggle several jobs at a time.
“It is totally wrong if working for a couple of hours incurs an annual insurance policy. Hence, I was propelled to do something about it and then, insurance changed.” His first-hand experience of those working at Deliveroo was the driving force for this idea. Harry noticed that the lack of proper insurance cover deterred many people from joining the gig economy. Usually, these workers were forced to work full time so as to justify the annual policy purchased.
Tens of thousands of customers currently enjoy the flexible insurance cover at Zego- over 8 million hours provided so far. However, self-employment transcends delivery. The ultimate goal is to protect people at their point of need and this extends to every kind of freelance work. It is not only beneficial to them, but also to their customers.
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