The haunting question often asked is, “Do I need to have insurance?” If that is you, then the short answer is, yes, you do. Working freelance means that you are your own boss, it is best if you treat yourself as a business. A real business has insurance policies in their backing, so maybe you should look into the same thing. After all, freelancers need insurance too to protect them. Here are a few basic protections that you need to have.
What to Get
Think about the types of insurance that you will get if you were to work a 9 to 5 job in a company somewhere. They’d probably cover for your insurance plan. Many freelance workers neglect getting it because they don’t know what to get. There are a lot of insurance agents that are trying to get you into having as many insurance plans as you can even if you may not need it. So, bellow are things that you should get.
- Health Insurance
Yes, boring, I know. But the thing is that your well-being is the most important of your job. Seeing that if you get sick and wouldn’t be able to work, then who is going to finish all of those deadlines? Nobody! Freelancers need insurance, especially for this reason. Without having one for your health, you are forced to pay your medical bills out of your own pocket. Doctors’ fee is not cheap so getting yourself covered in this area is highly suggested.
- Professional Indemnity Insurance
This one is for you that offer knowledge or advice or skills as your services. These include writers, lawyers, accountants, consultants, etc. You should consider getting this insurance. It will protect you from the ramification of being held responsible for compensating your clients for damages, loss or harm that ere resulted from your work. So, just in case they decide to sue, you would have insurance agency pay the expensive litigation for you.
- Business Property Insurance
Many freelancers need insurance for their property because it’s their work. You can work without your equipment, especially if you work as a photographer or something similar where you need many expensive gears. By getting this insurance, you can have a sense of security that when your belongings get stolen or damaged, then you can easily replace what you need without you having to drain out your bank account.
- Disability Insurance
Don’t take this one lightly. Having yourself covered with disability insurance should also be on your list. The reason why you as freelancers need insurance plan put in on this one is so you can have peace of mind. In case you get hurt or injured yourself somehow and wouldn’t be able to perform your work, this type of insurance will ensure you that you would have an income coming to you when you need it.
There are many more insurance plans available, you should start by focusing on those 4 above first before looking somewhere else. Though, ultimately, you can do all of those covered with an emergency saving accounts. This will be better because you will have complete control over your own money. So it will be best if you start saving for those just in case situations from now!