Guide to Self Employed Insurance

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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.

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Types of Self Employed Insurance

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    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.

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    Common Self Employed Insurance Questions...

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      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.

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      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
      26/09/2019
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