- Workers’ compensation insurance, It is required by law in all 50 US states that If you have any employees you must cover them with this type of coverage. It is your responsibility to cover your employees due to being injured on the job and medical expenses that are incurred from the injury.
- Disability insurance, This is well worth spending the money, to assure yourself of some income should you be unable to work because of some illness or injury.
- Health insurance, Without health insurance you run the risk of having to pay out of your pocket for medical expenses, doctors visits and medications. As a self employed business owner give this serious thought, because self employed liability insurance will save you thousands in the long run.
- Life insurance, In the event of your death you want to make sure your family that survives you has adequate money to pay funeral expenses, other outstanding bills and future living expenses due to the loss of your income.
- Business property insurance,This insurance is designed to help recover your losses or damages to your property caused by a fire, flood or other disasters.
- General liability insurance, If your set up to have clients or customers come to your home, this type of insurance will protect you if they injure themselves while on your property. Self employed liability insurance will cover you against any lawsuits that may be files against you. Of all the insurance types, this one I recommend all Self Employed business owners have.
Any time you operate any kind of business, whether you have a brick and mortar business, or home based business, the unexpected can happen when you lest expect it. Being prepared is always the best practice. The above insurance plans are for your consideration.