Gig Insurance

As a gig worker who takes on short-term jobs and project-based tasks, you understand what it means to work on your own terms. Like all professionals though, the work you perform comes with some inherent risks.

 

While being your own boss has its advantages, it also means that you don’t get the same protections that other workers often receive through their employers, but don’t worry. This just means that it’s up to you to get the right gig insurance coverage to protect your health, income, assets and future. The first step is to understand your insurance options, so let’s dive in!

 

Jump To: 

• What is Gig Insurance?

• Who Needs Gig Insurance? 

• What Types of Insurance Do Gig Workers Need? 

• How Much Does Gig Insurance Cost? 

• FAQs

• Get Gig Insurance Today!

What is Gig Insurance? 

Gig insurance is a term that refers to a combination of insurance policies, all tailored to protect independent workers who take on short-term jobs, contracted projects or work on a freelance basis. Since gig workers are self-employed, they don’t get some of the benefits that other workers get from their employers such as health insurance, or liability protection. 

 

While the specific policies that are necessary for each gig worker vary, in general gig insurance aims to provide a well-rounded coverage plan. This includes protections against personal injury, third-party injury, automotive accidents, property damage, legal claims and much more.

Who Needs Gig Insurance? 

Anyone who works independently, works contracted jobs, or earns money on various freelancing apps like Uber, Lyft, DoorDash, Fiverr, TaskRabbit needs gig insurance. Here are some examples of specific professionals who should consider investing in insurance: 

 

• Freelancers
• Consultants
• Rideshare drivers
• Delivery drivers  
• Tutors
• Pet Sitters
• Personal Shoppers
• Handymen
• Photographers and Videographers
• Home Cleaners
• Landscapers

What Types of Insurance Do Gig Workers Need? 

Different gig workers require different types of insurance policies depending on the jobs they take on the risks associated with those jobs. With that said, here is a list of the most common policies that gig workers invest in: 

 

• Health Insurance: When it comes to health coverage, gig workers have a variety of options. These include ACA plans (through the Health Insurance Marketplace), private insurance plans, short-term health plans, Health Savings Accounts (HSAs), Medicaid (if you qualify), and Medicare (for those 65 and older). While each option has its own pros and cons, in general they all cover benefits like doctors visits, prescription medications, hospital stays, preventative care and much more. To explore all of your health coverage options and get free customized quotes, visit our Individual Health Insurance Overview page.
• General Liability Insurance: Protects against claims of third-party injury, third-party property damage and advertising related damage. 
• Professional Liability Insurance (Errors and Omissions Insurance): Covers claims of professional errors, faulty advice and failure to deliver promised services. This policy is essential for gig workers such as consultants and other people offering professional services.
• Commercial Auto Insurance: If you are a personal driver, deliver food, or use your vehicle for other gig work related purposes, your personal auto insurance policy likely won’t cover accidents while you’re on the job. Commercial auto insurance covers the costs of accidents, property damage, and liability costs, filling in the gaps so your vehicle is insured during all situations. 
• Tools and Equipment Insurance: Also known as contractors insurance, this coverage helps cover the cost to replace or repair gear if it’s stolen or damaged. While these policies are usually purchased by contractors and handymen, they extend to photographers and videographers as well. 
• Cyber Liability Insurance: Gig workers like web designers and IT professionals need cyber liability insurance to protect against cyberattacks, data breaches and other hacking incidents. 

 

How Much Does Gig Insurance Cost? 

The cost of gig insurance varies greatly depending on a number of factors. Here are some of the things that insurers consider when determining policy rates: 

 

• Location: Local laws and risks may affect the cost of coverage. 
• Industry: Industries that have higher risk factors may have to pay more for their policies. 
• Claims History: Gig workers with an extensive history of lawsuits or claims may experience higher insurance costs.
• Coverage Limits: The higher your coverage limits are, the more protection a policy provides, but that also means it’ll be more expensive than a policy with a low coverage limit. 
• Number of Policies Needed: Gig workers needing multiple polices will pay more overall than someone who only needs one policy. 

Below are the average costs of some of the most common gig insurance policies. Keep in mind that the averages may not reflect the actual amount that you’ll pay for a policy, and it’s best to work with a professional broker like EZ.Insure, to get an accurate quote:

 

• General Liability: $30-$50 per month.
• Professional Liability: $60-$75 per month.
• Cyber Liability: $100-$200 per month. 

FAQs 

What’s the most important type of insurance for gig workers? 

The most important type of insurance coverage for gig workers depends on the nature of gigs performed regularly, and the associated risks. With that being said, a general liability insurance policy is a good starting point as it protects against third-party injury and property damage, both of which are risks associated with all businesses. 

 

Is gig insurance legally required? 

Most types of gig insurance are not required by law but there are some exceptions. For example, some ridesharing and food delivery gigs may require drivers to have commercial auto insurance. Additionally, while not legally required, some clients require contracted workers to provide proof of liability coverage before hiring them. 

 

What’s the difference between personal and commercial auto insurance? 

Personal auto insurance protects drivers in their day-to-day, non-work related vehicle use. On the other hand, commercial auto insurance covers drivers using vehicles for job-related purposes such as ridesharing, delivery or other driving jobs. 

Get Gig Insurance Today with EZ.Insure!

If you’re a rideshare driver, delivery driver, photographer, landscaper or any other independent worker, protecting yourself and your assets is crucial. While working for yourself comes with its own set of challenges, getting insured shouldn’t be one of them. Whether you’re looking for a comprehensive business insurance policy, or health insurance coverage, EZ.Insure is here to help!

 

Our user-friendly platform offers free, no-obligation quotes, side-by-side plan comparisons and 24/7 access to licensed insurance experts. Don’t go unprotected any longer. Get covered today with EZ.Insure!

 

To get started simply click the button below to receive your free, no-obligation quote, or call us directly at (844)-770-0876.