The Essential Guide to Freelance Business Insurance

As the American workforce shifts to mostly freelancing by 2027, the importance of business insurance will increase
Small business owners struggle with the complexities of business insurance, with 40% finding it more stressful than taxes and 96% failing to pass a basic insurance knowledge test
To protect themselves, freelancers should follow these tips:
General liability insurance, which most freelancers need, costs $29 -$ 42 monthly
Nine out of ten freelancers pay under $50 each month
Professional liability/E&O insurance costs about $59 -$ 61 per month, while technology E&O insurance costs around $59 m o n t h l yor$ 713 yearly
Workers’ compensation insurance, which some states require, costs $32 -$ 45 monthly
While the choices might be overwhelming at first, having the right insurance is essential to protect one’s livelihood and professional credibility, especially as one-time clients become long-term partnerships, and a single uninsured incident can cost more than premium payments

Fast Feed