As a freelance Virtual Assistant you should maintain a current Professional Indemnity Insurance or Errors and Ommissions insurance policy to protect
Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance that helps protect professional advice- and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit.
In the UK we recommend Markel UK who will provide a typical freelance Virtual Assistant with full Professional Indemnity insurance from as little as £3.50 per month, paid monthly. We have found this to be the most competitive quote on the market.
In the U.S. there are more options and insurance availability can vary from state to state. We recommend contacting your local insurer or broker but we have also obtained competitive quotes from Hiscox and CoverHound . There are several affordable ways to obtain insurance - your existing home insurer may be able to provide you with liability insurance through a Homeowners Policy Endorsement. You may be able to obtain an In-Home Business Policy or a Businessowners Policy. If your partner owns their own business it's worth establishing whether their insurance could cover your Virtual Assistant activity. In any case we recommend speaking to someone directly - as many of the policies offered online do not cater directly for freelance Virtual Assistant.