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Discover what type of insurance you need as a freelancer

If you look at the statistics, you will see that approximately 35 percent of the US workforce is made up of freelancers. Many say that freelancers will become the majority in less than a decade. And they are right. Half of millennials are freelancing by now and they are not interested in working full-time. As far as the Californian economy is concerned, freelance workers are dominating the scene. Residents are in business for themselves and it is not hard to understand why. They have the opportunity to choose the type of work that they want, not to mention the immense flexibility.

Maybe it was not a natural choice for you. Do you know what? It does not matter. As long as freelancing offers you the freedom that you need so much, you do not need to work for a company. As you know, it is necessary to have insurance. You are an independent contractor, meaning that you are in business for yourself. Carrying some kind of insurance is not only important, it is compulsory in some situations. The challenge that you are facing right now is figuring out what type of insurance you need. It is a good thing that you came across this article because here you have the major types of insurance you will be needing.


Liability insurance



When running your own business, you see a lot of foot traffic. Clients come to your place to discuss important issues and it is your job to put their mind to rest. It is amazing to see how aloof individuals can be when wondering around. They do not pay attention to anything and they are so clumsy that they immediately trip and fall. Some days, everything comes together in perfect harmony. Other days, everything falls apart in less than a minute. Let us imagine the following scenario: someone slips or trips, falling at your workplace. Guess what? You are liable. The owner of the property has the responsibility to prevent accidents.


You have to make sure to have liability insurance. This coverage will protect you in the event of bodily injury, property damage, or other similar wrongs. It helps you cover the legal costs, as well as the payouts. If a person gets injured on your premises, they will most certainly seek compensation and it is a good idea to be prepared. When doing gig work, you cannot afford to take any risks. The chance of someone tripping over your equipment or causing damage to a venue are extremely high and it is simply not worth it. In case you did not know, you can use your insurance as a marketing tool. Much has happened in the past to undermine the trust of freelancers and you need to make your clients feel safe and protected, even though you are the one who is at risk.


SR-22 insurance


If you have never dealt with the legal system, chances are that you do not have a clue what the SR-22 insurance is. To put things simply, it is a vehicle liability insurance that is demanded by most state DMVs, including the one in California. The document demonstrates that you have car insurance, which meets the minimum requirements for auto insurance liability. Filling for sr22 insurance in California has never been easier. Right now, you are probably wondering what the point is in getting this type of coverage. There are many reasons why you might need the SR-22 insurance policy. Maybe you were caught driving without a license or maybe you accumulated a great number of speeding tickets, trying to get to client meetings on time. The auto insurance will come in handy. You use an automobile to visit clients, get to meetings, and carry out marketing tasks. So, you will need a financial responsibility filling.


Cyber insurance


Liability represents a risk for organizations of all sizes. The one thing that you should be worrying about is your cyber liability. You are constantly exposed to online criminality and, if you do get attacked, the client is the one that has to suffer. When you operate systems that contain personal or commercial information, you have to take preventative measures. In other words, you need to get cyber insurance. Cyber criminals have an appetite for money and you cannot afford to put your technical infrastructure in danger. Risks are everywhere. You do not have employees, so nobody can delete or steal your data. Nevertheless, a criminal hand can infiltrate into your database and cause chaos.


Getting cyber insurance makes complete sense from a business perspective. It is very easy for someone with experience to breach your security system and affect its integrity. When cyber criminals put their mind to the test, there is nothing that they cannot do. It is essential to understand that you live in a hyperconencted digital world and a weak password or a stolen laptop PC can cause a havoc. You take actions in order to prevent business interruptions or natural disasters, yet you do not do anything to avoid cyber attacks. Cyber insurance is more and more popular and it is actually a requirement for those working with client information.


Health insurance


If you do not already have health insurance, then you need to get coverage right away. The policy offers you the freedom to choose the level of care that you receive, not to mention how and when it is provided. Most Americans are forced to buy health insurance and we have president Donald Trump to thank for that. The good news is that you have the possibility to find affordable options, you just have to look hard enough. The question now is: do you really need to take out health insurance? Yes, because medical bankruptcies will ruin you. If you fall on the ski slope while you are on vacation, you will have to pay thousands of dollars in terms of medical bills. Since you are not sitting on piles of cash, it is a good idea to have health insurance. At one point of your professional life, you will get sick or become injured.