Phenomenal Guidelines On Whether VA Business Insurance Is Actually Important
Is virtual assistant insurance really necessary, or can you avoid this during the startup phase? Let’s take a closer look at these particular scenarios, and you can gauge for yourself.
Now, on the whole, if you are developing your business into a large company this may well be a good idea. But it is something to consider when you have at least one customer and not when you are just getting ready.
I can think of five different reasons why you might need insurance. I found these reasons in a free sample of a start up course for virtual assistants.
1. Your computer is damaged or stolen and you lose your files.
2. Your client hurts themselves in your home office.
3. You get sick and can’t work.
4. You might do something to harm the client’s business.
5. Employees!
Okay – Let’s solve these right now…
These are the 5 Key Reasons why you shouldn’t need insurance as a start up.
Damaged or stolen computer, with files lost.
Backup all your files online and use your home contents insurance to look after your computer. By applying this method, you can nip down to the store, buy a new PC and as soon as you login, hey presto, everything is right there at your fingertips, from your online backup.
2. Clients hurting themselves in your home office.
You are a “Virtual” assistant — don’t invite clients to your home, and if you or they insist on meeting, choose a public venue, or simply meet online using technology designed for remote working.
3. You get sick and can’t work.
You can look at this 2 ways. On the one hand, you could find a good virtual assistant who you rely on, who can take over when needed, you can find a good freelancer and pay them by the hour, as your business should be able to cater for the situation when it comes around, OR come up with an agreement with another VA, an individual or a company, and make sure that they make money from the billable time they put in, but most importantly the client remains yours.
4. You caused harm to your client’s business from the work you did.
This is why it’s important to have a good contract, lawyer approved, to limit your liability to start off. Also, place a disclaimer on your website as well.
5. Employee Insurance.
If you are just starting out as a new virtual assistance supplier, it’s going to be a little while before you need to consider working with anyone, but ideally even if you are more seasoned – don’t take on employees, hire freelancers (like yourself). There is a lot less to worry about and they are far more likely to be inspired to do well for you, as, after all, they are looking after their own business as well as yours.
Despite reading all this, if you still feel that you need insurance then you should certainly get it, but think carefully whether the money that you spend here could be better spent elsewhere in your growing enterprise.
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