As a virtual assistant working remotely for your clients, you have more freedom than many business owners, but you are still a business owner. You may work as an assistant to another business owner, but as long as you aren’t on their payroll and instead are charging them as a contractor or freelancer, you are a business owner with business owner concerns. That means you need insurance coverage, such as:
Health insurance: Without an employer, you need to come up with your own plan for health insurance. Luckily, you can buy many different kinds of individual policies to suit both your healthcare needs and your budget.
Disability insurance: You need a backup plan to protect you against the possibility that you may eventually become disabled and unable to do your job and generate an income. Long- and short-term disability policies protect you from a potential loss of paycheck in the future and can come through much quicker than Social Security disability benefits.
Liability insurance: Every business owner has liabilities. If you provide assistance in a professional capacity, like as an assistant with a specialized knowledge, then you may need professional liability coverage. If you receive deliveries in your home, or ever have anyone stop by in a business capacity, then you may need commercial liability insurance for your residence or office.
Business property: If your business owns computers, furniture or any other property then you need the right property insurance coverage. If you have a home insurance policy and your office is located in the home, it may not be covered unless you have a special endorsement allowing for coverage of business contents.
Life insurance: Your family depends on your income to help them reach their personal and financial goals. If something should happen to you, your lost income may need to be replaced and you may even need to hire people to help do things around the house that you once did. A life insurance policy can help them.
Business interruption insurance: What would you do if a fire or other insurable event made it so that you couldn’t conduct business for a few weeks until your office space was renovated? Business interruption insurance can replace lost profits, pay some ongoing expenses and even keep you up-and-running in a temporary location.
There are so many ways you can protect your family and your business with the right insurance policies. To get your business set up right, give us a call at 866-933-6691 or get a free Tampa business insurance quote.