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    25 Aug, 2022|

    Self-Employed Stuck Abroad: Will Insurance Cover Loss of Earnings?

    Travel disruption has been the story of the summer holiday getaway in 2022. Impacting those travelling both for a holiday as well as for business. And if you’re self-employed, getting caught up in this disruption could be pretty distressing especially if it causes you to miss out on work you had scheduled.

    But hopefully you had the foresight to put in place insurance before you travelled.

    Personal or business travel insurance?

    Whilst a personal travel insurance policy may provide sufficient cover if you are taking a holiday, be mindful that it may not extend cover to business related trips or equipment.

    Depending on your insurer, you may be able to add business travel as an add on to a personal travel insurance policy.

    Or alternatively, if you are travelling for business purposes, then you may be better placed to take out a business travel insurance policy. These types of policies will usually have specific benefits for business travellers – covering business equipment from loss or theft during your travels, medical cover, having to curtail your trip, cancellation, legal expenses through to cover for sending a replacement business associate if you need to curtail your trip.

    If you have employees who also travel for work, take a look at our recent blog where we look at what you can do as an employer if you have employees stranded abroad due to travel disruption.

    Cover for lost income?

    Most travel insurance policies, and other types of insurance policy, do not extend cover to lost earnings because of travel disruption.

    But the only way to know for sure if you have any cover for lost income is to check your insurance policy wording. In here you will be able to find exactly what you are and aren’t covered for.

    If loss of income is a concern to you, then you will need to thoroughly read the insurance policy wording before taking out the policy to be certain of whether or not you have the cover you think you are buying.

    Working with an insurance broker

    If you are self-employed, working with an insurance broker can help you put the right insurance in place to protect your business against a range of eventualities.

    As well as getting the right insurance to protect you when you travel for work, there are many other types of insurance that you’ll want to consider if you are self-employed. 

    • Public liability insurance
    • Professional indemnity insurance
    • Business interruption insurance
    • Cyber insurance
    • Legal expenses
    • Buildings and contents insurance. You may need to review your home insurance if you plan to run a business from your home
    • Income protection insurance. Which can provide cover in case of long term sickness or injury

    Insurance can be complicated. And it can be difficult to understand exactly what types of cover you would benefit from, as well as how much cover you should be taking out. Working with an insurance broker can take the hassle out of the process. Not only are we insurance experts, but we’ll also go out to the market for quotes and help you access the right cover at the best possible price. Saving you time. And the worry of not buying the correct insurance that you may experience if you go it alone.

    You can get in touch with us at Anthony Jones via both email and phone. And our business insurance experts will be on hand to work with you to not only to get you the right cover, but the right cover at the right price. Contact us today to discuss your self-employed insurance needs on 020 8290 9080 or email us at business@anthonyjones.com.