Insurance company LV has released a survey into the contractor and small business market stating that there are now over 1.7 million contractors working in contracting jobs.
The LV study revealed that a number of these contractors are working from spare bedrooms, converted garages and garden offices. It also stated that over 25% of one man bands were earning over £51k and 5% were earning over £150k.
LV believes this shows the strength of the contractor market at present but warns that many contractors do not have sufficient insurance in place stating that majority of house hold policies will not cover business issues.
For more information on insurance for freelance contractors take a look at our insurance pages.
If you have any questions then do please get in contact.