Do Virtual Assistants Need Insurance?

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However, these administrative and tech-savvy professionals face noteworthy perils on multiple fronts requiring a sound risk management strategy anchored by a virtual assistant insurance policy to cover them if something goes awry.

What Risks Do Virtual Assistants Face?

There are several reasons why a virtual assistant needs a business insurance policy. After all, virtual assistants have access to their clients’ confidential or mission-critical data and are responsible for keeping that data safe. 

Some of the risks virtual assistants may face include the following:

• Accidentally deleting or sharing a client’s customer relationship management (CRM) data.
• Publishing a comment or image on a client’s social media channels that goes sideways and causes the client reputational harm.
• Not having adequate cybersecurity measures in place to protect a client’s data, financial information, and personal information or your client’s customer-related information and the information is stolen in a cyber-attack.
• If a virtual assistant works out of their home and a fire or flood damages your property, contents, and electronics.
• Being sued by a client for mistakes or wrongdoing or being named in a lawsuit along with one of your clients.
• Visiting a client’s office for a meeting and accidentally injuring them by spilling a hot beverage on them or damaging an expensive item in their office by mistake.

Moreover, whether you opt to join a virtual assistant association or firm that helps you find work as a virtual assistant, the clients you want to work for may not hire you if you don’t have a valid insurance policy.

What Does a Virtual Assistance Insurance Policy Include?

Although the policy you choose is tailored to address the services you provide, a typical virtual assistant insurance policy may include:

• Errors and omissions (E&O) insurance: Also called professional liability insurance, E&O insurance covers your professional services if you are facing allegations of or lawsuits claiming negligence, misconduct, errors, and failure to deliver a service as promised. 

• Commercial general liability (CGL) insurance: CGL or general liability insurance covers the cost of third-party bodily injury and property damage claims or lawsuits arising from accidents or negligence. It also includes coverage against allegations of defamation, libel, and slander.

• Commercial property insurance: Think of commercial property insurance as protection for the property where you work, whether from a home-based office or a business space you own, rent, or lease. For instance, it covers repairing or replacing your physical space and contents if damaged or destroyed by fire, flood, theft, or vandalism.

• Cyber liability insurance: You work remotely and online as a virtual assistant. Including cyber liability insurance as part of your policy is crucial because it covers costs associated with data breaches and all kinds of cyber-attacks, including phishing and ransomware attacks.

There may be additional coverages your policy requires. For example, if you use a vehicle as part of your work for clients, you may need commercial auto insurance included in your policy.

How to Get a Virtual Assistant Insurance Policy

Getting the insurance protection you need can be confusing and, sometimes, expensive. But that’s where we come in: Zensurance makes getting virtual assistant insurance quick, easy, and affordable. 

Find out for yourself: fill out an online application for a free quote. We’ll shop the market for you to get you the best price. If you have a question about your policy and coverage details, our friendly insurance experts are ready to answer your questions and customize the policy to suit your specific requirements.