Interpreter Insurance
As a professional interpreter, you need protection for your business against the cost of possible lawsuits, theft of business property, temporary shutdowns, and other disasters.
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Christine Lacagnina has written thousands of insurance-based articles for TrustedChoice.com by authoring consumable, understandable content.
Interpreters are bilingual or multilingual professionals who translate verbal and written communications from one language to another. They may be hired by individuals, corporations, government entities, lawyers, or medical professionals to translate conversations, speeches, interviews, and even legal proceedings. But if you make an error in a translation that somehow damages your client or another entity, you could be sued and held liable for damages. That's why you need interpreter insurance to protect your business from these costly incidents and others.
An independent insurance agent can help you get set up with the right kind of insurance for interpreters. They'll consider your unique risks and recommend the coverages necessary. But first, here's a breakdown of freelance interpreter insurance, what it covers, and more.
What Does Interpreter Insurance Cover?
Interpreters and translators have a variety of unique exposures that must be protected. In your business insurance policy, you'll likely have several different forms of protection, which might include:
- Commercial general liability insurance: This covers lawsuit costs if you get sued for third-party claims of personal property damage or bodily injury caused by your business.
- Commercial property insurance: This can pay to repair or replace your business property, such as inventory, equipment, buildings, etc., if it gets destroyed, stolen, or damaged by fire, weather events, or vandalism.
- Business interruption insurance: This pays for ongoing expenses (e.g., rent, salaries, etc.) and provides continued revenue if your business operations must temporarily shut down due to a covered disaster like a fire or break-in.
- Workers’ compensation insurance: This can cover medical expenses and provide partial wage replacement for workers who get injured or ill due to the workplace or job tasks.
- Commercial vehicle insurance: This covers incidents involving company-owned vehicles, including lawsuits, accidents, theft, and more.
An independent insurance agent can help you get set up with all the right types of business insurance for interpreters. Your agent can also help you with billing insurance for interpreter services.
Why You Need Interpreter Professional Liability Insurance
One of the greatest risks that you face as an interpreter is the impact that an oversight, error, or omission can have on a client. Imagine that you were hired to perform medical translation services and made an error when translating a lab result or diagnosis to a patient. The affected patient could then make a treatment decision that is detrimental to their health.
Sign language interpreters face similar risks, as any mistake in your translation could lead to a misunderstanding that has a negative impact on someone else, and you could be sued and held liable for resulting damages.
Interpreter professional liability insurance provides protection if a client or customer sues you for negligence or another error related to your work. Professional liability policies provide coverage for the following:
- Actual or alleged errors
- Omissions
- Professional negligence
- Breach of duty
- Misleading statements
- Claims resulting from the performance of professional services
A professional liability policy covers defense costs, settlements, and judgments. Insurance companies offer customized policies that address the specific needs of different types of professional services firms, including interpreters.
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How Much Does Interpreter Insurance Cost?
The cost of interpreter insurance can vary based on many different factors. These can include your business's annual revenue and location, as well as the number of employees it has and the total value of company property. Luckily, an independent insurance agent can help you find the most affordable coverage available near you.
An Independent Insurance Agent Can Help You Find the Right Interpreter Insurance
Independent insurance agents know which business insurance companies offer interpreter insurance. They can shop and compare policies and quotes from multiple carriers for you, ultimately finding the best overall blend of coverage and cost. And down the road, your agent will be there to help you file business insurance claims or make updates to your coverage as necessary.