Why You Need Insurance – Even When Self-Employed
Flexibility and freedom are just two of the advantages that go along with being your own boss. While being self-employed can give you a newfound sense of work enjoyment after leaving the corporate world, there are a few exposures that you should address in the form of insurance. If you’re planning to start your own business or launch a freelance career, here are a few insurance coverages you’ll need.
One of the biggest downsides of leaving the 9 to 5 job is losing your employer’s health insurance coverage. If you’re used to having your monthly premiums deducted from your paycheck, having to buy your own policy can be a real eye-opener. It may take some time to find the right policy for you, but doing your research and shopping online will help.
Business insurance refers to a broad range of insurance types that are designed to fill the gaps in your existing coverage. If you work from home, you can’t rely on your homeowners insurance to cover your business’s equipment and damages. For such protection, you’ll need a home-based business policy, which would cover losses that don’t fall under your regular homeowners insurance, such as damage to your business property or theft.
If you run a small business with employees, you may want to look for a comprehensive policy that combines property and liability coverage. This type of policy protects the business structure itself, and any business-related equipment against theft or damage.
Liability insurance is there to protect you personally against negligence claims. Depending on your business’s industry and risks, there will be different liability policies to protect you. Product liability insurance is designed for those businesses that sell products, protecting the company from claims resulting from injuries and damages caused by the product. Other claims can be covered by a general policy, which provides umbrella protection against negligence and personal injury claims.
Are you ready to get started with the right insurance for your needs? Contact Lou Aggetta Insurance Services today in Pleasant Hill, California.