As we have seen in the previous part, there are different types of insurance contracts. In this section we will give a general overview of all the upsides and downsides of insurance for translators, so you can know about them before you decide to get one.
Upsides
Imagine you work as an interpreter. Your clients are businessmen, millionaires, politicians, or patients. One wrong word and you can ruin someone’s business or even someone’s life. It is not something that your clients will allow you to do as the stakes are too high. However, we all know that we’re humans, no one is safe from mistakes and even the best translators make them sometimes. In this case, subscribing to a professional insurance contract is a perfect solution. It can protect you if your translations had alleged or actual errors, omissions, misleading statements, or breaches of duty. Moreover, it can even cover your previous projects. Having an insurance policy gives you financial support and increases your potential risks.
At the same time, it gives you peace of mind and you can sleep tight. Working with many different people or even being the head of a company requires a huge amount of energy. Imagine, you need to worry about everything: translations, clients, employees, confidentiality, and more. It never rains but it pours. In this case, if something terrible happens, you are likely to have a burn–out and your head will explode. Having insurance is a sort of safety bag that you want to have with you when your car is about to fall off a cliff.
Another example that I’d like to give you is related to the damages you can cause accidentally and unintentionally, for example, body injuries of third parties or property damages. Insurance will help you cover these expenses as well, so it’s a big advantage and a must if you work with many different clients and in different places.
Being a professional also means having a good reputation. If you make a mistake, you don’t want to suffer the consequences and frighten away all your potential clients. Insurance gives you a chance to settle out of court and save face.
It is also important to mention that nowadays it is much easier to find insurance. You can buy it online, and choose the most suitable option depending on your specialization or your needs. It is simple, scalable, and flexible. For example, with many insurance contracts, you can choose a particular period, or you can void your contract at any time. Sometimes companies have their own peculiarities, and in this case, you might look for insurance that can give you exactly what you want.
Do you remember when you were a child, and you didn’t know what to do? Do you remember when you were calling your mom to ask for her advice? So, we are not children anymore, but we still can have complicated situations when we need professional help and a second opinion. Your mom cannot always help you, especially when we talk about judicial matters. In this respect, a 24-hour helpline can be a perfect solution for you. Many insurance companies have this option. If you have an urgent situation, you can consult a lawyer at any time.
Another important aspect is the price. When we think about health or car insurances, we all think that it’s quite expensive. However, for professional insurance contracts, it really depends on many factors like the type of contract, what it covers, or the period of validity. Overall, as there are different options and covers, it remains quite affordable. You can choose what works best for you. Moreover, if you belong to a translation union, you can even get it for free. Some insurance companies can give you a discount. When there’s a will there is a way.
Downsides
Now, let’s talk about some of the downsides of professional insurance contracts as well. The first and the most evident one is the fact that you might not even use it! How disappointing! If you work with repetitive, “low-risk” clients or have an incredible editor who can spot all your mistakes, there is a high chance that you won’t need it and that you won’t use it at all.
Secondly, as all contracts, the process of getting insurance can be quite long. It requires some paperwork (and no one likes additional paperwork, especially when we are already drowning in it). All papers and contracts are also related to fraud. You should be careful with the company’s terms and conditions. Sometimes insurance contracts don’t cover all the expenses and you need to be very careful about what you are signing. Don’t forget to read everything, even if it is written in small letters. Otherwise, some insurance companies can scam you and get your money. Again, you need to be careful with the companies you choose, with the terms and the conditions you accept.
Last, but not least, even if it can be affordable, buying insurance still represents additional expenses. It might be quite difficult for translators who are only starting their professional career and don’t have many clients yet.
In conclusion, it is important to say that subscribing to an insurance contract is always a personal choice. As you have seen, there can be upsides and downsides. If you are hesitating about getting it or not, you should consider all the options and all the risks mentioned previously. Understanding this will help you make the right decision and find the perfect coverage if you decide to get insurance.
Personally, I think that getting insurance is always a good idea if you can afford it. You can be protected from all the unexpected twists of fate, all the meticulous and annoying clients, whether you work for someone or are self-employed. Just don’t forget to read all the conditions and choose a reliable insurance company that can save your nerves and your money.
Written by Mariia Mokeeva
La Traduction de A à Z 