In just the short time I have been a virtual assistant, in my niche as a transportation and administrative virtual assistant, I understand the importance of valuable insurance coverage at affordable pricing, both the cover your equipment, garage policy to cover the shop and office, and drivers and employees as well. I never would have thought that I would need VA insurance. VA networking has added (as usual) information and example to give me the knowledge that insurance is a must have necessity in growing your VA business.
In the examples below, gives us virtual assistants an idea of why a protection plan is crucial to our business. We work hard to gain clients and keep them, and in one fail swoop, they can be taken away. CYA, my mom always taught me. So when you start your business plan, include insurances in it as well when you are looking at the financial worksheets. If you have a protection plan in place, and you have created a business that can in some way qualify for a grant, a protection plan can assist in the funding sources for grants or even bank lending. This shows them you really are serious about your business, and it is protected from financial ruin. The reasons listed below for the VA protection plan has been provided by VA networking, again offering us a vital key to our business, and the grounds for success.
Example Reasons to have a VA protection plan:
EXAMPLE OF A CLAIM: A Virtual Assistant books a flight for a client. They book the wrong flight, and the client misses a meeting that causes them a financial loss.
EXAMPLE: Any professional liability claim where the policy would apply to you as an insured would be extended to the independent contractor or employee. This makes it easier for you to expand and grow your business.
EXAMPLE: Client charge-backs are a big problem for Virtual Assistants. We recommend the use of contracts in all situations prior to the rendering of services to any third party. However, if you become the victim of a fraudulent client charge-back, our policy will provide 2 free hours of legal advice.
EXAMPLE: A Virtual Assistant loses a client document or business file in fire. It may cost $1 per page to reprint/recreate 1000s of documents. Policy will pick up the cost.
Remember, If you take your business seriously so will everyone else.
