If you're self-employed, you need to consider your business insurance coverage.
Did you know that over one in ten individuals in America is self-employed? The popularity of self-employment has grown thanks to the lull in the job market the recession brought, the flexibility of being your own boss, and the increased ease of finding jobs for yourself thanks to the internet. As the number of self-employed people grows, so does the number of people who are at risk.
When you're self-employed, you don't get to step under a company's business insurance. Instead, you need to think about getting your own coverage to protect yourself. Here are a few business insurance coverage considerations self-employed individuals need to take into account to avoid being exposed to unnecessary financial risk.
Liability Insurance
Because you're in business, you face the possibility of a business lawsuit. You could be left with a serious financial burden thanks to the cost of the legal fees, and that's not even considering that you might have to pay a settlement! Fortunately, with general liability insurance you can have a policy in place to cover these costs.
Health Insurance
Since you can't get coverage through your workplace, you'll need to get your own health insurance policy. The Affordable Care Act legally requires you to be covered, so don't think you can just skip this insurance! It's open enrollment right now, so you can buy a policy if you don't already have one.
Life Insurance
Similarly, since you won't be able to get life insurance through a company you need to think about purchasing an individual policy to protect the people who matter most to you.
As a self-employed individual, you already have a lot on your plate. Getting the right insurance coverage shouldn't be a task about which you have to worry, so
contact Little & Sons Insurance Services. Our dedicated team can help you get the right
business insurance. We serve Banning, Beaumont, Calimesa, Redlands, and the surrounding California area and can help you protect yourself against the risks you face.
