Guide to Self Employed Insurance

Get Advice
Compare Financial Advice Logos

Self-employed insurance covers a wide range of protection products and needs. As a self-employed worker, insurance can be an essential lifeline to protect you when things go wrong given that you have very little in the way of a buffer between you and any unfortunate circumstance which could leave you unable to work.

While employed people benefit from sick pay, employee benefits and other insurances paid for by their employer, this isn’t the case if you’re self employed.

Income Protection

Income Protection for the Self Employed

Self Employed Income Protection acts as a form of sick pay, compensating for what you don’t receive from an employer. It will pay you a monthly income if you can’t work due to accident or sickness.

self-employed Health Insurance

Private Health Insurance

Private Health Insurance pays the bills from a private medical facility, allowing you to receive top-notch care for eligible conditions and skip NHS waiting lists.

Life Insurance

Life Insurance

Life Insurance is often provided as an employee benefit to employed workers but this isn’t something you’ll get when you go it alone. It pays out a lump sum on death to financially support your loved ones after you’re gone.

Mortgage insurance

Mortgage Insurance

Self employed workers often find it harder to get a mortgage in the first place due to their employment history; it therefore makes sense to secure the loan with either Mortgage Life Insurance to protect against death or Mortgage Payment Protection in case you can’t work.

critical illness insurance

Critical Illness Insurance

Critical Illness Cover pays out a tax-free lump sum if you develop a critical illness. This can be used to cover any medical expenses, replace lost income or make adaptations to your home following a disability.

Curved wave background

Types of Self Employed Insurance

    Curved wave background

    When to Review Your Self Employed Insurance

    Most importantly, the obvious time to review your insurance as a sole trader is when you become self-employed in the first place.

    Starting out on your own is an exciting time, but you lose any protection you would have had from your previous employer, such as sick pay. For this reason, a policy such as Income Protection, which can provide the sick pay for the self-employed that you’re missing out on, can be a crucial part of being a sole trader.

    If you leave employment to start your own business, you might be missing out on employee benefits, such as Group Life Insurance, that would have helped provide for your family should the worst happen and you. It’s here a personal Life Insurance policy can step in to provide the same cover.

    Also when starting your business, you’ll want to consider any insurances that are necessary for you to function as a sole trader. This might include Professional Indemnity Insurance, Public Liability Insurance or Employer’s Liability Insurance.

    Major Life Events Requiring an Insurance Review

    Once you’ve sorted out the insurance you need, you should regularly review and update the policies when there are changes in your life to ensure your cover remains right for your current circumstances.

    Certain events in life should be followed by a review of your personal insurance policy, such as:

    • Getting married / moving in together
    • Starting / increasing your family
    • Buying a property / getting a mortgage
    • Moving to a higher value property with a larger mortgage
    • If your annual income rises or falls in line with business operations

    Fortunately, many protection policies have a guaranteed insurability option, which permits you to increase the amount of cover you have if you reach a major milestone in your life without submitting further medical evidence.

    These typically include getting married, having children, moving house / increasing your mortgage and getting a pay rise / promotion.

    Curved wave background

    Common Self Employed Insurance Questions...

      Curved wave background

      Get Self Employed Insurance Quotes and Expert Advice

      Finding the right Self Employed Insurance product is only the first step to getting your protection put in place. Not all policies are made equal and different insurers will make different offers.

      Why Speak to Us…

      We started Drewberry because we were tired of being treated like a number and not getting the service we all deserve when it comes to things as important as protecting our health and our finances. Below are just a few reasons why it makes sense to let us help.

      • There is no fee for our service
      • We are independent and impartial
        Drewberry isn’t tied to any insurance company, so we can provide completely impartial advice to make sure you get the most appropriate policy based solely on your needs.
      • We’ve got bargaining power on our side
        This allows us to negotiate better premiums for you than you going direct yourself.
      • You’ll speak to a dedicated expert from start to finish
        You will speak to a named expert with a direct telephone and email. No more automated machines and no more being sent from pillar to post – you’ll have someone to speak to who knows you.
      • Benefit from our 5-star service
        We pride ourselves on providing a 5-star service, as can be seen from our 2637 and growing independent client reviews rating us at 4.91 / 5.
      • Gain the protection of regulated advice
        You are protected. Where we provide a regulated advice service we are responsible for the policy we set-up for you. Doing it yourself or going direct to an insurer won’t provide this protection, so you won’t benefit from these securities.
      • Claims support when you need it the most
        You have support should you need to make a claim. The most important thing when it comes to insurance is that claims are paid and quickly. We are here to support you during the claims process and make sure it’s as smooth and stress free as possible.

      I had the pleasure of dealing with Jake Mills in organising my insurance. Jake was fantastic to deal with — his patience and understanding really helped.

      Brendan Kelly
      Need Financial Advice?
      Speak To Our Expert Advisers

      Or call us on 0208 432 7333

      Compare Financial Advice Logos
      Contact Us
      Head Office & Pensions and Investments
      Millennium Bridge House
      2 Lambeth Hill
      EC4V 4GG
      Personal Insurance & Accounts Payable
      Telecom House
      125-135 Preston Road
      BN1 6AF
      Drewberry London Office MapDrewberry Brighton Office Map
      Our Core Principles
      • 1You Come FirstWe are a client focused business who always aim to put you first.
      • 2We are ExpertsTo provide you with the best advice, we need to know our stuff!
      • 3We are HumanWe are real people with feelings who are here to help you.
      • 4We are ProfessionalProviding a 5-star service requires a professional approach to everything we do.
      • 5We are here to EducateWe don't believe in sales, we are here to educate so you can make informed decisions.
      Finalist - Moneyfacts AwardsFinalist - Cover Excellence AwardsHighly Commended - Protection Review Awards
      Proud member of AMII (Association of Medical Insurers & Intermediaries)Proud member of Money Advice ServiceProud member of UnbiasedProud member of BIBA (British Insurance Brokers' Association)
      Cookie Use

      Drewberry™ uses cookies to offer you the best experience online. By continuing to use our website you agree to the use of cookies. If you would like to know more about cookies and how to manage them please view our privacycookie policy.