Insurance for Freelancers

Written by Stephanie Halligan on August 1, 2014
insurance for freelancers

If you’ve struck out on your own, you may be grappling with a few big business questions:

Where’s my next paycheck coming from?

How am I going to grow my business?

How am I going to protect myself and my business?

Hopefully you have a few ideas already about the income-related questions and how you’ll be bringing in money in the short-term and the long-term. But when it comes to protecting yourself and your business, things can start to get complicated. As a freelancer, it’s hard to know what type of insurance is necessary and what isn’t really needed. If you’re a solopreneur or freelancer and you’re looking for ways to protect your body and your business, here are a few types of insurances to consider:

Health Insurance and Dental Insurance: Both healthcare and dental are must-have insurances for anyone working for themselves. The last thing you want is to be out of work because you can’t get the care you need. If you’ve recently left a job, you can continue receiving health insurance on your ex-employer’s plan (this is called COBRA). Otherwise, check out the insurance marketplace under the Affordable Care Act.

General and Professional Liability Insurance: You’ll definitely want to protect yourself from anything going wrong with your business (or an unhappy customer suing you). General insurance and professional liability insurance usually comes bundled together.

Life Insurance: Your decision to get life insurance really depends on whether or not you have dependents. If you’re a young, single freelancer you probably don’t have to worry about life insurance quite yet. But if you have children or a spouse that depend on your income to survive, you may want to consider it.

Disability Insurance: Disability insurance, like life insurance, is another insurance type to consider depending on your circumstances. But if you couldn’t work due to illness or injury, disability insurance could be a lifesaver (or at least an income saver).

Other Specialized Insurance: Depending on the type of business that you’re in, there may be other types of insurances that you need. Take a moment to research the trade associations for your profession to see if they recommend or provide any additional insurance.

Posted Under: Insurance Rates
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About Stephanie Halligan

Stephanie is the founder of The Empowered Dollar, a site dedicated to helping millennials to fix their finances and find their stride in money and life. When she's not blogging, Stephanie is designing school curricula and online games to teach students about smart money management.


Aug1

If you’ve struck out on your own, you may be grappling with a few big business questions:

Where’s my next paycheck coming from?

How am I going to grow my business?

How am I going to protect myself and my business?

Hopefully you have a few ideas already about the income-related questions and how you’ll be bringing in money in the short-term and the long-term. But when it comes to protecting yourself and your business, things can start to get complicated. As a freelancer, it’s hard to know what type of insurance is necessary and what isn’t really needed. If you’re a solopreneur or freelancer and you’re looking for ways to protect your body and your business, here are a few types of insurances to consider:

Health Insurance and Dental Insurance: Both healthcare and dental are must-have insurances for anyone working for themselves. The last thing you want is to be out of work because you can’t get the care you need. If you’ve recently left a job, you can continue receiving health insurance on your ex-employer’s plan (this is called COBRA). Otherwise, check out the insurance marketplace under the Affordable Care Act.

General and Professional Liability Insurance: You’ll definitely want to protect yourself from anything going wrong with your business (or an unhappy customer suing you). General insurance and professional liability insurance usually comes bundled together.

Life Insurance: Your decision to get life insurance really depends on whether or not you have dependents. If you’re a young, single freelancer you probably don’t have to worry about life insurance quite yet. But if you have children or a spouse that depend on your income to survive, you may want to consider it.

Disability Insurance: Disability insurance, like life insurance, is another insurance type to consider depending on your circumstances. But if you couldn’t work due to illness or injury, disability insurance could be a lifesaver (or at least an income saver).

Other Specialized Insurance: Depending on the type of business that you’re in, there may be other types of insurances that you need. Take a moment to research the trade associations for your profession to see if they recommend or provide any additional insurance.

About Stephanie Halligan
Stephanie is the founder of The Empowered Dollar, a site dedicated to helping millennials to fix their finances and find their stride in money and life. When she's not blogging, Stephanie is designing school curricula and online games to teach students about smart money management.