Translators and interpreters provide translation services for conversations, interviews, speeches, dictations, and written material. Translators and interpreters are bi-lingual or multi-lingual, where they know more than their native language. This also includes interpreters or translators fluent in sign language. These services are used in a variety of settings including business meetings, medical centers, community organizations, legal proceedings, international institutions, and special events. Providing improper translation that damages the client in some way is the biggest risk for translators and interpreters. Others are similar for most businesses such as legal liabilities or crime. Protect your risk exposures by obtaining translator or interpreter insurance.
Types of Translator or Interpreter Insurance
The following translator or interpreter insurance policies will cover a wide range of risks you are exposed to in your line of work.
One of the most important policies to have as a translator or interpreter is general liability insurance. This insurance policy offers coverage for products liability, premises liability, and completed operations. Unless you sell translation products helping your clients with their business, you may not need to worry about products liability. However premises liability will cover any accidents that occur in your business office, such as a faulty bookshelf that falls and harms a client. Completed operations is equally important as it will protect against services you provide and the potential damage or loss they cause your clients.
Professional liability insurance protects your business from errors or mistakes made. This is also why it is commonly referred to as errors and omissions insurance. Your interpretation skills are trusted, but mistakes can occur during the translation process. Unfortunately, some of these mistakes cause damage to the client which may result in a lawsuit. Legal costs and other loss from a lawsuit can be covered with a professional liability policy.
Translators and interpreters often travel to perform their services, such as to and from business meetings or special events. In this case, business auto insurance is essential. It will offer coverage in the event of a motor vehicle accident, as well as protection from theft or vandalism if you choose to include it. Bodily injury and property damage are usually included in a business auto insurance policy.
Translators and interpreters spend a good portion of their day in front of the computer, translating materials, or sign language interpreters who are translating with their hands for long periods of time. This increases the risk of a workplace injury, such as carpal tunnel syndrome. With worker’s compensation, your employees have coverage for any type of work-related injury. So if one of your sign language interpreters starts experiencing pain from repetitive motion injury, their medical costs and missed income will be covered by the worker’s comp policy.
Your business offices are at risk of potential damage and the resulting loss, especially if you have paperwork and books out in the open. Everything from your office furniture and electronic data on the computers to the building itself could be destroyed from a natural disaster or fire. Protect this kind of catastrophic loss with a property insurance policy.
The risk of crime for a translator or interpreter business may be lower than other businesses, but it’s not impossible. Clients may pay with forged checks and you run the risk of an employee embezzling or stealing money from your company. Protect these types of crimes with a proper crime insurance policy. This ensures your company doesn’t have to deal with the financial loss in the event of a crime.
It is important to protect your translating and interpreting business from a variety of risks, including those most probable and others that are less likely. This saves your business from financial struggles and relieves the stress of unforeseen circumstances. Choose your translator or interpreter insurance policies wisely to offer the best coverage available.