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March 18, 2020

Insurance cover in the time of coronavirus

Written by Jack Lewis

On-demand insurance cover to match your working needs

We’ll begin by stating the obvious: we have never faced a crisis on the scale of the coronavirus outbreak outside of wartime. These are tremendously difficult times for all of us. But there are a very particular set of difficulties that freelancers face.

We’re all familiar by now with the lack of protection self-employed workers have: no holiday pay, no sick pay, no employee benefits – and no certainty of income. Of course, the inherent flexibility of freelancing and all its associated benefits – you can choose when you work, how often, with whom, and where – provides a counterpoint of sorts.

But it’s in times like this where those choices begin to be stripped away. As public spaces shut down, companies begin to close ranks and our working lives move into a holding pattern, it’s natural for thoughts to turn to money and how to manage outgoing costs. Unfortunately, it is very likely that freelancers will be at the sharp end of any cuts to work and will see their working hours and income drop.

Regular readers of the Dinghy blog, or any of our social channels, will be somewhat familiar with our dislike for the outmoded nature of most freelancer insurance. This sees everyone – in the conventional model – having to buy a 12-month insurance policy when they are never going to be working for that entire period. Worse still, in this model if you cancel your policy then you’ll lose all cover in respect of any prior work. It’s no longer fit for purpose.

A new way – insurance cover that you can turn on, off, up or down

These are uncertain times, but there is something you can do to make your life easier – and more cost effective – as a freelancer. At Dinghy, you only ever have to pay for the insurance cover you use. It’s that easy. If you’re not working for any amount of time, you can simply pause your policy and save money straight away. It’s charged by the second so the moment you toggle that button you are not being charged the full premium and – even better – you’ll still be protected should any claims for previous work arise.

We’re suddenly facing a world where – however temporarily – every penny counts. The ability to reduce the cost of your insurance when you don’t need it can make a world of difference. You can find out more on how to do that here.

We realise that some of you might not want to turn your insurance off completely. That’s fine. But perhaps, in that instance, you can just turn your levels of cover down to keep those overheads low. It’s as simple as going into our app – or website – and flicking the switch. We’ll only ever take payment at the end of the month, giving you time to plan and save exactly what you need.

Once upon a time, so the story goes, insurance was a social good. Enhancing freedom. Creating security. Promoting good health. Increasing prosperity. There to help you in a time of crisis. Dinghy exists to bring that back.

Helping out

What we’re saying is – if you’ve not already joined the revolution, wouldn’t now be a good time to start? And if you’re already onboard with Dinghy you can still help others. Our insurance cover is underwritten by Allianz, the world’s biggest insurer – you can be confident in difficult times that we’ll be here to help you. We also operate a refer a friend scheme, which you can read more about here. It’s a nice way to supplement your income, and an even better way to liberate fellow freelancers from antiquated insurance policies which need to be consigned, once and for all, to history.

We’re facing uncertain times right now. Looking out into the unknown is scary. Being unable to predict next week – let alone next year – is not a scenario many of us expected to find ourselves in any time soon. But whilst the world stands unsteadily on its feet, it’s good to know there are steps you can take today to make your own existence that little bit less perilous.

About Jack Lewis

Read more blog posts by Jack Lewis

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