Some of the different types of self-employment insurance available in the US are health insurance, liability insurance, and income protection insurance. An owner of a small business can also obtain a business owner’s policy. Internet business insurance is also available for owners of a Web-based business. Other types of insurance include liability insurance and home-based business insurance. These policies can help to protect the self-employed in case of accidents or loss of equipment, or they can help provide income if the person is harmed or ill.
People who operate businesses out of their homes may not have the business covered by home-owner’s insurance. In such cases, a person can purchase home-based business insurance. This type of insurance can cover the loss of equipment, data, or other incidents. Another type of self-employment insurance is liability insurance. This type of insurance helps to protect a person from suits arising out of incidents such as negligence, damage, or an employee contracting an illness or infection on the job.
There are also business owner’s policies available for those who own small businesses with fewer than 100 workers and who make less than $5 million US Dollars (USD) in sales. This type of self-employment insurance policy can be seen as a combination of liability and property insurance. It helps cover property damage, accidents to a third party, and damaged equipment or other expenses. Another type of self-employment insurance is commercial vehicle insurance. This policy can cover damage done to vehicles the company owns.
Income protection insurance is also called personal accident and sickness insurance or life and critical illness insurance. This self-employment insurance policy helps to replace up to two-thirds of lost income if a person cannot work. The policy will also pay out a lump sum if he dies. The nuances of the policy, such as how much will be paid and when it will be paid, is determined in advance by the insurance company and the insured.
Another type of self-employment insurance that may be important for a person to get for himself and his employees is medical insurance. Medical insurance helps offset the cost of hospital bills in the case of sickness or injury. A self-employed person can buy his own insurance or may be able to buy group insurance if he is a part of a union or other such group.